The digital revolution is causing a new global boom — food delivery services, courtesy of a proliferation of smartphone apps. Use of food delivery apps has doubled over the last five years, according to respondents to a survey on consumer habits in the food industry. And sales are expected to grow a further 22% annually in the next three years, significantly boosting restaurant revenue.
Indonesia claims the largest market — 76% of its internet users order food through an app or website on a monthly basis, the survey found. Portugal is showing the most significant growth, with food delivery services growing by 60% since Q2 2018. And in the U.S., millennial consumers — who are driving the food delivery trend — opt to order food for delivery nearly as often as they choose to dine out — 71% of the time versus 76%, respectively.
“This is a market projected to reach $164.5 billion by 2024,” the report says, making it a “lucrative opportunity for an increasing number of companies lining up for a slice of the pie.”