TKAYY - Food delivery space set for upside amid share consolidation better fundamentals - CFRA

Online meal delivery is set to see heavy upside in coming year, CFRA says, jump-started by an outlier 2020 but with significant gains to be had in an expanded addressable market. Americans spent $1.5T on food and beverages in 2019, it says, with $600.5B of that spent on restaurants and consumer food service - and it expects the trend away from cooking at home to continue. That spending has increasingly moved off-premise - increasing to 50% of food/beverage spend in 2019, up from 44% in 2009. Meanwhile, the COVID-19 pandemic boosted the value proposition of logistic platform services including DoorDash and Uber Eats, CFRA notes, adding that consumer adoption of those services is still in early stages. And those platforms have even greater potential as they expand their addressable market outside restaurant food (for example, to grocery and flower deliveries). Online food delivery is expected to grow at a five-year

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Food delivery space set for upside amid share consolidation, better fundamentals - CFRA