With the widespread adoption of the internet, the maturity of mobile payments, and consumers’ growing demand for convenience, the global food delivery (online meal delivery) market is expanding rapidly. Although the COVID-19 pandemic has passed, its catalytic effect remains: online ordering and real-time delivery have become deeply ingrained in consumer behavior.
I. Rapid Market Expansion, Asia-Pacific Leads Growth
According to Grand View Research, the global online food delivery market was valued at approximately USD 288.8 billion in 2024 and is expected to reach USD 505.5 billion by 2030, representing a compound annual growth rate (CAGR) of about 9.4%. The Asia-Pacific region is both the largest and the fastest-growing market, while North America and Europe maintain substantial market size but show slower growth momentum.
II. Giants Compete: Global Rankings Revealed
In this fast-growing environment, the hierarchy of global food delivery platforms is becoming clearer. Below are the leading players, their financial performance, and strategic moves as of mid-2025:
|
Rank |
Company |
Core Markets / Strengths |
Latest Performance / Highlights |
Challenges & Strategies |
|
1st |
Meituan (China) |
Absolute domestic leader, diversified business |
2024 revenue of RMB 337.59 billion; net profit surged to RMB 35.81 billion |
Faces domestic regulatory pressure and fierce competition; cautious international expansion |
|
2nd |
DoorDash (U.S.) |
Dominant in North America, expanding globally |
Acquired Deliveroo, gaining strong entry into the UK and Europe |
High subsidies and labor policy risks; costly integration |
|
3rd |
Uber Eats (U.S.) |
Multi-market presence leveraging Uber ecosystem |
2024 revenue around USD 13.7 billion |
Intense competition in Latin America and Southeast Asia |
|
4th |
Delivery Hero (Germany) |
Strong in Europe, Middle East, and Latin America |
Annual revenue over €12.8 billion; expanding into grocery delivery |
High operating costs across markets; some regions remain unprofitable |
|
5th |
Zomato / Swiggy (India) |
Duopoly in India, near-equal market shares |
Zomato ~54%, Swiggy ~46% |
Profitability yet to be optimized; highly price-sensitive users |
|
Others |
Grab, Just Eat Takeaway, Deliveroo |
Regional leaders |
Deliveroo turned profitable in 2024 for the first time |
Frequent M&A, localization challenges |
(Sources: company financial reports, Reuters, AP News, The Guardian, Straits Research, Wikipedia, and other public information)
III. Industry Trends and Structural Shifts
The global food delivery industry is undergoing structural change. M&A activity is accelerating: DoorDash’s acquisition of Deliveroo and the Prosus–Just Eat Takeaway merger have increased industry concentration, consolidating the advantages of leading platforms. Profitability has overtaken subsidy-driven expansion as the core objective—Deliveroo’s first-ever annual profit in 2024 is seen as a turning point for the industry.
At the same time, AI-based dispatching, autonomous delivery, and real-time retail are reshaping the market. The “quick commerce” model is gaining momentum, with China’s Meituan and Southeast Asia’s Grab investing heavily. However, tighter regulations, rider protection, and wage standards are pushing up costs, creating new compliance challenges for platforms.
IV. Future Outlook: A Reshaped Global Landscape?
The global landscape may undergo a reshuffle in the coming years. If Meituan successfully advances its internationalization strategy, it could challenge for the world’s top position. The DoorDash–Deliveroo merger strengthens their European presence, but integration risks remain. Delivery Hero’s broad international footprint gives it scale advantages, yet profitability will determine whether it can sustain momentum.
Meanwhile, in India and Southeast Asia, local champions Zomato, Swiggy, and Grab remain highly dominant. As consumer purchasing power rises, these markets are widely expected to deliver substantial growth opportunities.
More Content
