Food & Drink - Western Asia
Western Asia- The Food & Drink market in Western Asia is projected to witness a significant growth in the coming years.
- By 2022, the total revenue in this market is estimated to reach US$3.12m.
- This upward trend is expected to continue with an annual growth rate of 13.22%, resulting in a projected market volume of US$6.05m by 2027.
- Within the Food & Drink market, in-app purchase (IAP) revenue is projected to reach US$672.20k in 2022, indicating a growing trend in consumer spending on digital food and drink-related products.
- Similarly, the revenue from paid app downloads is estimated to reach US$442.50k in 2022, reflecting the willingness of consumers to invest in premium food and drink applications.
- Moreover, advertising revenue in the Food & Drink market is expected to reach US$2.00m in 2022.
- This suggests an increasing interest from advertisers to target consumers in this market segment, leveraging the popularity and engagement of food and drink-related content.
- In terms of user engagement, the number of downloads in the Food & Drink market is projected to reach 1.79m downloads in 2022.
- This signifies a high level of interest and demand for food and drink-related applications among consumers in Western Asia.
- Currently, the average revenue per download in this market segment is expected to be US$1.74.
- This metric indicates the average amount of revenue generated per individual download, highlighting the potential profitability of the Food & Drink market in Western Asia.
- When comparing these figures on a global scale, it is noteworthy that United States leads in terms of revenue generation.
- In 2022, United States is projected to generate a substantial revenue of US$786.60m within the Food & Drink market, indicating the country's prominence and significance in this sector.
- Key regions:
- United States,
- India,
- South Korea,
- Japan,
- Asia
Definition:
The Food and Drinks market contains apps that make meal delivery faster and more convenient and/or that provide culinary recipes. The most popular apps such as DoorDash and Uber Eats focus on speedy delivery from a wide range of restaurants. Certain food chains such as Domino's and McDonalds also have their own apps for delivery or takeout orders and often provide deals and discounts. Meanwhile, the Paprika app organizes personal recipe lists and helps to plan meals for the coming days and weeks.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
