The demand for restaurant delivery services in Southern Asia has been steadily increasing in recent years, driven by changing consumer preferences and the growth of the food delivery industry.
Customer preferences: Consumers in Southern Asia are increasingly turning to restaurant delivery services due to the convenience and speed they offer. With busy lifestyles and the rise of urbanization, customers are looking for quick and easy meal options that can be delivered to their doorstep. Additionally, the COVID-19 pandemic has further accelerated the adoption of food delivery services as more people are staying at home and avoiding crowded places.
Trends in the market: In India, the restaurant delivery market has seen a significant increase in the number of players, with both local and global players entering the market. The market is highly competitive, with companies offering a wide range of cuisines and delivery options to cater to consumer preferences. In Bangladesh, the market is dominated by local players who offer affordable and fast delivery services. The market in Sri Lanka is still in its early stages, but is expected to grow rapidly due to the increasing adoption of online food delivery platforms.
Local special circumstances: One of the unique challenges faced by the restaurant delivery market in Southern Asia is the lack of proper addressing systems in many areas. This makes it difficult for delivery drivers to locate customers, leading to delayed deliveries and dissatisfied customers. Additionally, the high cost of fuel and poor road infrastructure in some areas can also pose challenges for delivery companies.
Underlying macroeconomic factors: The growth of the restaurant delivery market in Southern Asia can also be attributed to the region's strong economic growth and rising disposable incomes. With more people having the financial means to order food delivery, the market has seen a surge in demand. Additionally, the increasing adoption of smartphones and internet connectivity has made it easier for consumers to order food online, further fueling the growth of the industry.
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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