The online food delivery market is expanding as a result of the increasing use of smart devices and the increase in Internet use in developing countries. The online food delivery market is expected to be significantly affected by the government's increasing attempts to strengthen the economy through digitalization and automation. Rapid urbanization and the increase in data literacy around the world will lead to market expansion. Online payments will be developed as a result of greater cooperation between regulatory authorities and financial institutions to protect and promote consumers' rights and interests, which will help drive the expansion of the online food delivery business.
Artificial intelligence can offer stronger security and can also help create a customer-centric strategy that drives market growth. The market is expected to expand as a result of consumer demand for data security, automation, mobile baking, convenience and faster service delivery. Food delivery platforms are experimenting with new technologies, including the use of drones to transport food. Comprehensive personalization helps ensure that customer preferences, such as food allergies, are taken into account at every meal and that dietary recommendations are more accurate.
Increased supplier investments to improve logistics efficiency and the increasing willingness of consumers to spend on food delivery services will drive the growth of the online on-demand food delivery services market in APAC during the forecast period. Rappi, based in Bogotá (Colombia), is an example of a multivertical delivery application that combines food delivery with other orders (through services such as RappiFavor or RappiCash), while Uber Eats and DoorDash have begun to explore the possibility of stacking orders as part of their food offerings.
