The convenience of having meals delivered to one's doorstep has become increasingly popular in Puerto Rico.
Customer preferences: Customers in Puerto Rico have shown a preference for meal delivery services that offer a wide variety of cuisines, including traditional Puerto Rican dishes, as well as international options. Additionally, customers value the convenience of having meals delivered quickly and reliably, with many opting for subscription-based services.
Trends in the market: The meal delivery market in Puerto Rico has seen significant growth in recent years, with new companies entering the market and established players expanding their offerings. This growth can be attributed to a number of factors, including increasing demand for convenience and changing consumer preferences towards healthier and more diverse meal options. Additionally, the COVID-19 pandemic has accelerated the shift towards online ordering and delivery, further boosting the market.
Local special circumstances: Puerto Rico's unique cultural blend of Spanish, African, and indigenous Taíno influences has resulted in a rich culinary tradition. As such, meal delivery services that offer traditional Puerto Rican dishes have gained popularity among locals and tourists alike. Additionally, Puerto Rico's status as a US territory has made it an attractive market for American meal delivery companies looking to expand their reach.
Underlying macroeconomic factors: Puerto Rico's economy has struggled in recent years, with high levels of poverty and unemployment. As a result, many consumers are looking for affordable meal options, making meal delivery services an attractive alternative to eating out at restaurants. Additionally, the island's geography and infrastructure can make it difficult to access certain areas, making meal delivery services a more convenient option for many residents.
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.
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