Market Insights eCommerce Online Food Delivery Meal Delivery

Restaurant Delivery - Bhutan

Bhutan

The Restaurant Delivery market in Bhutan is projected to reach a revenue of US$356.10k by 2024.
This market is expected to experience an annual growth rate (CAGR 2024-2029) of 7.38%, resulting in a projected market volume of US$508.40k by 2029.
In terms of user base, the number of users in Bhutan's Restaurant Delivery market is expected to amount to 25.6k users by 2029.
The user penetration rate, which measures the proportion of users within the population, is projected to be 2.3% in 2024 and is expected to reach 3.1% by 2029.
The average revenue per user (ARPU) is anticipated to be US$19.36.
In a global comparison, United States is projected to generate the highest revenue in the Restaurant Delivery market, with an estimated amount of US$36,950.00m in 2024.
On the other hand, South Korea is expected to have the highest user penetration rate in the Restaurant Delivery market, with a projected rate of 44.8%.
Bhutan's restaurant delivery market is thriving, with a growing demand for home-delivered traditional Bhutanese cuisine.

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Analyst Opinion

The popularity of food delivery services has grown tremendously in recent years, with many countries experiencing a surge in demand for these services. Bhutan, a small landlocked country located in the Himalayas, is no exception to this trend.

Customer preferences: Bhutanese consumers are increasingly turning to food delivery services due to their convenience and time-saving benefits. With busy work schedules and limited time for meal preparation, many consumers are opting for the convenience of having their meals delivered to their doorstep. Additionally, the younger generation in Bhutan is more tech-savvy and comfortable with using mobile apps to order food online, which is driving the growth of food delivery services.

Trends in the market: The food delivery market in Bhutan is still in its early stages, but it is expected to grow rapidly in the coming years. The market is currently dominated by a few major players, but there is room for new entrants to enter the market and capture market share. One of the key trends in the market is the increasing demand for healthy and organic food options, which is driving the growth of niche food delivery services that cater to this demand. Another trend is the rise of cloud kitchens, which are delivery-only restaurants that operate out of a central kitchen and do not have a physical restaurant location.

Local special circumstances: Bhutan has a unique food culture that is heavily influenced by its location in the Himalayas and its Buddhist heritage. The traditional Bhutanese diet consists mainly of rice, vegetables, and meat, and is known for its spicy flavors. However, Bhutanese cuisine is not widely known outside of the country, which presents a challenge for food delivery services that want to offer traditional Bhutanese dishes to consumers. Additionally, Bhutan has a small population and a limited number of restaurants, which could limit the growth potential of the food delivery market.

Underlying macroeconomic factors: Bhutan is a small and developing economy that is heavily reliant on hydropower exports. The country has a high poverty rate and limited infrastructure, which could limit the growth potential of the food delivery market. However, the government of Bhutan has been actively promoting entrepreneurship and innovation in recent years, which could create opportunities for new entrants in the food delivery market. Additionally, Bhutan has a young and growing population that is increasingly tech-savvy, which bodes well for the growth of the food delivery market in the country.

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.