The Sri Lankan restaurant delivery market has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Customers in Sri Lanka are increasingly looking for convenience and variety in their food choices, leading to a rise in demand for restaurant delivery services. With busy work schedules and long commutes, consumers are seeking out quick and easy meal options that can be delivered directly to their doorsteps. Additionally, the COVID-19 pandemic has accelerated the adoption of delivery services as more people choose to stay home and avoid crowded public spaces.
Trends in the market: One of the key trends in the Sri Lankan restaurant delivery market is the emergence of online food delivery platforms. These platforms have made it easier for customers to browse menus, place orders, and track their deliveries in real-time. As a result, many traditional restaurants have partnered with these platforms to expand their reach and attract new customers.Another trend in the market is the growing popularity of international cuisine. With Sri Lanka's diverse population and increasing exposure to global food trends, consumers are becoming more adventurous in their food choices and seeking out new and unique flavors. This has led to a rise in demand for restaurants offering international cuisine, which are now increasingly available for delivery.
Local special circumstances: Sri Lanka's restaurant delivery market is also influenced by local special circumstances. One of the key factors is the country's rapidly expanding middle class, which has more disposable income to spend on dining out and delivery services. Additionally, the country's tourism industry has been growing in recent years, attracting more visitors who are looking for convenient and high-quality food options.
Underlying macroeconomic factors: The Sri Lankan restaurant delivery market is also influenced by underlying macroeconomic factors. For example, the country's GDP growth has been steady in recent years, which has helped to boost consumer spending on food and dining. Additionally, the government has been investing in infrastructure and technology, which has helped to improve the overall delivery experience for customers and make it easier for restaurants to offer delivery services.
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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