Market Insights eCommerce Online Food Delivery

Meal Delivery - Asia

Asia

The Meal Delivery market in Asia is projected to reach a revenue of €239.50bn in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.96%, resulting in a projected market volume of €290.80bn by 2029.
In the Restaurant Deliverymarket, the projected market volume for Asia is €180.00bn in 2024.
When compared globally, it is notable that China is anticipated to generate the most revenue, amounting to €167,800.00m in 2024.
The average revenue per user (ARPU) in the Meal Delivery market is projected to be €158.30 in 2024.
Moreover, the number of users in the Meal Delivery market is expected to reach 1.8bn users by 2029.
The user penetration rate in the Meal Delivery market is projected to be 33.3% in 2024.
In Singapore, the meal delivery market is booming with a wide range of options and competitive pricing.

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Analyst Opinion

The popularity of meal delivery services in Asia has been on the rise in recent years, with an increasing number of people opting for the convenience of having food delivered to their doorstep.

Customer preferences: One of the key factors driving the growth of the meal delivery market in Asia is changing customer preferences. With busy lifestyles and increasing work pressures, people are looking for quick and convenient meal options that can be delivered to their homes or offices. Additionally, the COVID-19 pandemic has accelerated the adoption of meal delivery services as people avoid crowded restaurants and prefer to stay at home.

Trends in the market: The meal delivery market in Asia is highly competitive, with a number of players vying for market share. While some companies offer a wide range of cuisine options, others specialize in specific types of food such as healthy meals or gourmet cuisine. One trend that has emerged in the market is the increasing popularity of subscription-based meal delivery services, which offer customers the convenience of regular deliveries without the need to place orders every time. Another trend is the use of technology to enhance the customer experience, such as mobile apps for ordering and tracking deliveries, and the use of artificial intelligence to personalize meal recommendations.

Local special circumstances: The meal delivery market in Asia is diverse, with each country having its own unique characteristics and local special circumstances. For example, in China, the market is dominated by large players such as Meituan and Ele.me, which offer a wide range of food options and have a strong logistics network. In Japan, the market is characterized by the popularity of bento boxes, which are pre-packaged meals that are easy to transport and can be eaten on-the-go. In India, the market is fragmented, with a large number of small players offering traditional cuisine options.

Underlying macroeconomic factors: The growth of the meal delivery market in Asia is also influenced by underlying macroeconomic factors such as rising disposable incomes, urbanization, and increasing digitalization. As more people move to cities and adopt digital technologies, the demand for meal delivery services is likely to continue to grow. Additionally, the COVID-19 pandemic has highlighted the importance of food delivery services as an essential service, which is likely to further drive growth in the market.

Methodology

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.