Market Insights eCommerce Online Food Delivery

Meal Delivery - Sri Lanka

Sri Lanka

The Meal Delivery market in Sri Lanka is expected to generate a revenue of €38.10m in 2024.
It is projected to experience an annual growth rate (CAGR 2024-2029) of 5.89%, resulting in a market volume of €50.73m by 2029.
In Sri Lanka, the Platform Deliverymarket is estimated to reach a market volume of €26.33m in 2024.
When compared globally, the highest revenue in the Meal Delivery market is anticipated to be generated China, with an estimated revenue of €167,800.00m in 2024.
The average revenue per user (ARPU) in the Meal Delivery market in Sri Lanka is projected to be €27.73 in 2024.
By 2029, it is expected that the number of users in the Meal Delivery market in Sri Lanka will reach 1.8m users.
The user penetration in the Meal Delivery market in Sri Lanka is forecasted to be 6.3% in 2024.
With the rise of urbanization and busy lifestyles in Sri Lanka, there has been a surge in demand for meal delivery services in major cities like Colombo.

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Analyst Opinion

Meal delivery has become a popular method of food consumption in Sri Lanka, with a growing number of consumers opting for the convenience of having their meals delivered to their doorstep.

Customer preferences: Sri Lankan consumers are increasingly looking for fast and convenient meal options that fit their busy lifestyles. Meal delivery services provide a convenient solution for those who do not have the time or inclination to cook. Moreover, the younger generation in Sri Lanka is more open to trying new cuisines and experimenting with different flavors, which has led to an increase in the demand for international cuisine through meal delivery services.

Trends in the market: The meal delivery market in Sri Lanka has witnessed significant growth in recent years, with several new players entering the market to cater to the growing demand. One of the key trends in the market is the emergence of healthy meal delivery services that cater to health-conscious consumers. These services offer a range of healthy meal options that are low in calories and high in nutrients, which has been well-received by consumers.Another trend in the market is the increasing use of technology to enhance the customer experience. Many meal delivery services now offer mobile apps that allow customers to easily place orders and track their deliveries. Additionally, some services are experimenting with the use of drones and other innovative technologies to improve the speed and efficiency of their deliveries.

Local special circumstances: Sri Lanka has a unique culinary culture that is rich in flavor and variety. The local cuisine is heavily influenced by Indian, Malaysian, and European cuisines, which has led to a diverse range of dishes that are popular among Sri Lankan consumers. Meal delivery services in Sri Lanka have capitalized on this trend by offering a wide range of local and international cuisine options to cater to the diverse tastes of consumers.

Underlying macroeconomic factors: The growth of the meal delivery market in Sri Lanka is being driven by several underlying macroeconomic factors. Firstly, the rapid urbanization of the country has led to an increase in the number of people living in cities, which has created a demand for fast and convenient meal options. Secondly, the rise of the middle class in Sri Lanka has led to an increase in disposable income, which has enabled consumers to spend more on food and dining experiences. Finally, the increased penetration of smartphones and the internet has made it easier for consumers to order food online, which has further fueled the growth of the meal delivery market in Sri Lanka.

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.