Market Insights eCommerce Online Food Delivery Meal Delivery

Restaurant Delivery - Colombia

Colombia

The Restaurant Delivery market in Colombia is projected to reach a revenue of €473.40m by 2024.
It is expected to exhibit an annual growth rate of 5.07% (CAGR 2024-2029), resulting in a projected market volume of €606.30m by 2029.
By that time, the number of users in the Restaurant Delivery market is expected to reach 12.0m users.
The user penetration rate, which is currently at 18.7% in 2024, is predicted to increase to 22.3% by 2029.
The average revenue per user (ARPU) is expected to be €48.47.
When comparing globally, United States is anticipated to generate the highest revenue in the Restaurant Delivery market, amounting to €33,910.00m in 2024.
On the other hand, South Korea is projected to have the highest user penetration rate in the market, with a rate of 44.8%.
The restaurant delivery market in Colombia is experiencing a surge in demand due to the growing popularity of online food delivery platforms.

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Analyst Opinion

The popularity of food delivery services has been on the rise in Colombia, with many consumers opting for the convenience of having their meals delivered to their doorstep.

Customer preferences: Colombian consumers are increasingly looking for convenience and speed when it comes to food delivery. They want their meals to be delivered quickly and efficiently, without any compromise on quality. Customers are also becoming more health-conscious and are looking for healthier options when ordering food.

Trends in the market: One of the major trends in the restaurant delivery market in Colombia is the increasing use of technology to streamline the ordering and delivery process. Many restaurants are partnering with delivery platforms to reach a wider audience and offer their customers a more efficient delivery service. Another trend is the rise of ghost kitchens, which are delivery-only restaurants that operate out of a shared kitchen space. These ghost kitchens allow restaurants to expand their delivery services without the need for a physical storefront.

Local special circumstances: Colombia has a diverse culinary scene, with a wide range of regional and traditional dishes. This has led to a highly competitive restaurant industry, with many restaurants vying for customers' attention. Additionally, the country's geography and infrastructure can make delivery challenging in some areas, particularly in more rural regions.

Underlying macroeconomic factors: Colombia's growing middle class and increasing urbanization have contributed to the rise of the restaurant delivery market. As more people move to cities and lead busy lifestyles, the convenience of food delivery becomes increasingly important. Additionally, the COVID-19 pandemic has accelerated the growth of the restaurant delivery market, as many consumers have been forced to stay at home and rely on delivery services for their meals.

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.