The popularity of food delivery services in Asia has been on the rise in recent years, with a growing number of consumers opting for the convenience of having restaurant meals delivered to their doorstep.
Customer preferences: One of the main reasons for this trend is the increasing number of people who are leading busy lifestyles and have less time to cook or dine out. Additionally, the COVID-19 pandemic has accelerated the adoption of food delivery services as people are encouraged to stay at home.
Trends in the market: In China, the food delivery market is dominated by two major players, Meituan and Ele.me, who together hold over 90% of the market share. Both companies have been expanding their services to smaller cities and rural areas in recent years, which has contributed to their continued growth. In Japan, the food delivery market has been slow to develop due to the cultural preference for dining out, but there has been a recent shift towards delivery services, particularly among younger generations. In India, the food delivery market is highly competitive with players such as Swiggy, Zomato, and Uber Eats vying for market share. The market has also seen the emergence of cloud kitchens, which are delivery-only restaurants that operate out of a central kitchen.
Local special circumstances: In Southeast Asia, the food delivery market is highly fragmented with a large number of players operating in each country. GrabFood, Foodpanda, and GoFood are some of the major players in the region. One factor that has contributed to the growth of food delivery services in Southeast Asia is the prevalence of street food culture, which has made consumers more open to the idea of ordering food for delivery. Additionally, the region's high population density and congested traffic have made food delivery a more attractive option for consumers.
Underlying macroeconomic factors: The growth of the food delivery market in Asia can also be attributed to the rise of e-commerce and the increasing use of smartphones. As more people have access to smartphones and the internet, it has become easier for them to order food online. Additionally, the rise of the gig economy has created new opportunities for delivery drivers and has made it easier for food delivery companies to scale their operations. Finally, the growing middle class in many Asian countries has led to increased demand for convenience services such as food delivery.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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