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Montenegro, a small Balkan country with a population of just over 600,000, has seen a rise in the Meal Delivery market in recent years.
Customer preferences: Montenegrins, like many other consumers worldwide, have shown a growing preference for convenience and speed when it comes to food delivery. The rise of technology has made it easier than ever for customers to order meals online or through mobile applications, and Montenegro is no exception. Additionally, the COVID-19 pandemic has accelerated the trend towards online delivery as more people stay at home and avoid crowded restaurants.
Trends in the market: In Montenegro, the Meal Delivery market is dominated by local players, with a few international companies also making inroads. These companies offer a wide variety of cuisines, from traditional Balkan dishes to international favorites. One trend that has emerged in the Montenegrin market is the rise of healthy food delivery options, with many companies offering meals that cater to specific dietary needs. Another trend is the use of eco-friendly packaging, which appeals to environmentally-conscious consumers.
Local special circumstances: Montenegro's small size and population mean that the Meal Delivery market is still relatively small compared to other European countries. However, the market is growing rapidly, and there is room for new players to enter and compete. Additionally, Montenegro's status as a popular tourist destination means that there is a seasonal aspect to the Meal Delivery market, with demand increasing during the summer months.
Underlying macroeconomic factors: Montenegro's economy has been growing steadily in recent years, with GDP increasing by an average of 3.8% annually between 2017 and 2019. This growth has led to an increase in disposable income, which has in turn fueled demand for Meal Delivery services. Additionally, Montenegro's government has been working to improve the country's infrastructure, including its telecommunications network, which has made it easier for Meal Delivery companies to operate. However, Montenegro still faces challenges such as high levels of unemployment and a relatively low minimum wage, which may limit the growth of the Meal Delivery market in the long term.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)