The online food delivery market has been explosive.
In Canada for example, food delivery revenues hit $2.5 billion in 2020, according to Statista. By 2024, that number could be up to $3.4 billion. Over the next decade, analysts at Euromonitor say the market could be worth more than $1 trillion.
Even better, “Nowadays, food delivery has become a global market worth more than $150 billion, having more than tripled since 2017. In the United States, the market has more than doubled during the pandemic, following healthy historical growth of 8 percent,” says McKinsey & Company. That could create a windfall opportunity for companies such as
Komo Plant Based Foods (CSE:YUM) (OTC:KOMOF), Uber Technologies Inc. (NYSE:UBER), DoorDash Inc. (NYSE:DASH), Deliveroo (OTC:DROOF), and Just Eat Takeaway.com (NASDAQ:GRUB).