Food On Demand Launches to Cover Growing Industry
It’s a whole new era in food these days, with companies like Domino’s designing its own delivery cars and, allegedly, drone technology that’s ready and waiting once regulatory and legal hurdles are cleared. This change will impact everything from one-unit independent restaurants to the largest players in the global food industry, and sister publication Franchise Times started a brand-new media project called Food On Demand to cover it all.
This sea change covers everything from restaurants, delivery and at home cooking—as well as the tech companies, delivery suppliers and entrepreneurial restaurateurs looking to add incremental sales as players like DoorDash, GrubHub, Bite Squad, Seamless and many others are inventing new ways to connect hungry consumers with higher-caliber delivery options.
For a taste of the stakes, a new study from MorganStanley says, “At nearly $500B, the restaurant industry is one of the largest in all of retail. Of that, we estimate about $210B is restaurant food eaten off premise. We estimate that the current delivery market is $30B, and $11B of that is online. But excluding pizza, online delivery is [about] $4B, or just 2% of the total addressable market.”
The report goes on to suggest that the total addressable food delivery market is $210B. That’s a lot of food yet to be delivered as the delivery industry ramps up and diversifies.
In addition, at-home meal delivery services are appealing to younger eaters looking for a more convenient way to cook their own healthy food at home. Some chefs and restaurant groups are even launching delivery-only kitchens to capitalize on the rise of third-party delivery services.
At this point, nobody knows how these massive shifts will shake out for the food industry, but some initial studies of the category suggest we’re only at the very beginning of an epic shift in how people eat. And lest we forget what’s at stake, recent estimates put the total revenue of the global restaurant industry somewhere around $3.5 trillion dollars.
With the launch of our first Food On Demand e-newsletter earlier this month (sign up HERE), we’re diving head-first into this industry with the goal of helping restaurant companies, third-party suppliers, delivery providers and tech companies profit from the fast-changing on-demand food world.
Zooming out, this new world includes tech companies such as Google, transportation experts like Uber, plus Facebook, Twitter and other social media giants allowing users to order food with a tweet, text or emoticon, and an incalculable number of companies watching this space from the fringes.
Going forward, we hope to see Food On Demand grow at pace with this industry, and have taken nothing off the table in our quest to cover this dynamic sector with the experience, perspective and energy it deserves. Along the way, we seek to become the voice of this industry and help players large and small profit from the intersection of food, mobility and technology.
Contact Tom Kaiser at email@example.com if you have any questions, story ideas or suggestions on how we can make our new media project as interesting and exciting as the industry we’ll be covering. Also, visit our website at FoodOnDemandNews.com as we begin to fill out this new project with feature stories, interviews and stats.