Online Food Delivery

The projected revenue in the Online Food Delivery market for Belize is estimated to reach US$18.47m in 2024.
It is expected that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 0.38%, resulting in a projected market volume of US$18.83m by 2029.
The Meal Delivery market in Belize is anticipated to witness a revenue growth of 10.1% in 2025.0.
By 2024, the projected market volume for Meal Delivery stands at US$18.26m.
In global comparison, China is expected to generate the highest revenue with US$450.50bn in 2024.
The average revenue per user (ARPU) in the Meal Delivery market of Belize is projected to be US$393.90 in 2024.
In the Grocery Delivery market, the number of users is expected to reach 61.4k users by 2029.
The user penetration in the Grocery Delivery market will be 11.1% in 2024.
Belize's online food delivery market is experiencing a surge in demand as consumers embrace the convenience and variety of ordering meals from the comfort of their homes.

Definition:

Online Food Delivery refers to the intersection of ordering groceries and prepared meals online. Orders are typically placed through an app or website and delivery times vary.

Structure:

The Online Food Delivery market contains the user and revenue development of two different delivery service solutions: (1) Meal Delivery and (2) Grocery Delivery. Included are services that deliver prepared meals and food ordered online for direct consumption (Meal Delivery) and non-prepared food and beverage products, household, and personal care products (Grocery Delivery). Meal delivery includes the delivery of meals carried out directly by restaurants (Restaurant Delivery) and online delivery services that provide customers with meals from partner restaurants that do not necessarily have to offer food delivery themselves (Platform Delivery). Grocery Delivery consists of fresh, nonprepared products delivered from supermarkets or retailers where delivery is scheduled (Retail Delivery), Delivery that is under 3 hours and operates dark stores or own warehouses (Quick Commerce), and prepared fresh ingredients to be prepared at home, typically offered through a subscription service (Meal Kit Delivery).

Additional Information:

Revenue figures are the gross merchandise value (GMV), defined as the total sales dollar value for merchandise/food sold through the Online Food Delivery marketplace. User and revenue figures represent B2C services.

Meals and groceries ordered online that are directly delivered by the restaurant, retailer, or platform no matter if ordered via a platform (e.g. Delivery Hero, Instacart) or a restaurant/retailer website (e.g. Domino's, Walmart.com)
Online meal and grocery order and delivery both carried out by a platform (e.g. Deliveroo, Grab, Flink)

Phone orders
Click & collect Grocery orders
Ready-to-eat meals

Belize, a small country located in Central America, is witnessing a gradual but steady growth in the online food delivery market.

Customer preferences: Customers in Belize are increasingly looking for convenience and speed when it comes to ordering food. With the rise of technology and the internet, customers are now able to order food online with just a few clicks. In addition, customers are looking for a wider variety of options when it comes to food choices, with many preferring to order from restaurants that offer a range of cuisines.

Trends in the market: The online food delivery market in Belize is still in its early stages, but there are clear signs of growth. One of the key trends in the market is the rise of mobile apps, with many customers now using their smartphones to order food. Another trend is the emergence of new players in the market, with several local and international companies launching their online food delivery services in Belize.

Local special circumstances: Belize is a small country with a population of just over 400,000 people. As a result, the online food delivery market is relatively small compared to other countries in the region. However, the market has significant potential for growth, particularly in urban areas where there is a high concentration of restaurants and customers.

Underlying macroeconomic factors: Belize has a relatively stable economy, with a GDP growth rate of around 2% in recent years. This has led to an increase in disposable income, which has in turn led to an increase in spending on food and dining. In addition, the country has a young and tech-savvy population, which is driving the adoption of online food delivery services. However, there are also challenges in the market, including a lack of infrastructure and logistical challenges in delivering food to customers in remote areas.

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.

This report presents a comprehensive analysis and additional information on the Ecommerce market, in a PDF format.