Online Food Delivery - Bhutan

Bhutan

The Online Food Delivery market in Bhutan is expected to reach a revenue of US$32.92m by 2024.
This projection indicates a steady annual growth rate (CAGR 2024-2029) of 5.64%, resulting in a projected market volume of US$43.31m by 2029.
In the Meal Delivery market, a revenue growth of 10.2% is anticipated in 2025.
This market is projected to have a market volume of US$32.35m in 2024.
When compared globally, China is expected to generate the highest revenue, reaching US$450.50bn in 2024.
The average revenue per user (ARPU) in the Meal Delivery market is projected to be US$394.20 in 2024.
In the Grocery Delivery market, the number of users is expected to reach 111.2k users by 2029.
Furthermore, the user penetration rate in the Grocery Delivery market is estimated to be 10.4% in 2024.
In the emerging market of online food delivery in Bhutan, traditional Bhutanese cuisine is gaining popularity among local consumers.

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Analyst Opinion

Bhutan, the land of happiness, is known for its unique culture, tradition, and cuisine. With the rise of the internet and smartphones, the Online Food Delivery market in Bhutan has seen significant growth in recent years.

Customer preferences: Bhutanese people have always preferred home-cooked meals, and eating out was not very common. However, with the emergence of online food delivery services, people are now more inclined towards ordering food online. Bhutanese people are also becoming more health-conscious and prefer healthy food options, which is reflected in the menus of online food delivery platforms.

Trends in the market: The Online Food Delivery market in Bhutan has seen a surge in demand due to the COVID-19 pandemic. With the closure of restaurants and cafes, people have increasingly turned to online food delivery services. The market has also witnessed the entry of new players, both local and international, leading to increased competition. The use of technology such as mobile applications and online payment systems has made ordering food online more convenient for customers.

Local special circumstances: Bhutan is a small market with a population of around 800,000 people. The country's unique geography, with its mountainous terrain, poses a challenge for delivery services. However, online food delivery platforms have been able to overcome this challenge by partnering with local delivery services and using innovative delivery methods.

Underlying macroeconomic factors: Bhutan's economy is heavily dependent on the tourism industry, which has been impacted by the COVID-19 pandemic. The rise of the Online Food Delivery market in Bhutan has created new job opportunities and has helped boost the country's economy. The government has also introduced policies to support the growth of the e-commerce industry, which includes the Online Food Delivery market. Additionally, the country's young and tech-savvy population has contributed to the growth of the Online Food Delivery market in Bhutan.In conclusion, the Online Food Delivery market in Bhutan has seen significant growth in recent years due to changing customer preferences, the emergence of new players, and the use of technology. The COVID-19 pandemic has also played a significant role in the market's growth. Despite the challenges posed by the country's unique geography, online food delivery services have been able to overcome them through innovation and partnerships with local delivery services. The growth of the Online Food Delivery market in Bhutan has created new job opportunities and has helped boost the country's economy.

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.