Meal Delivery - South Korea | Statista Market Forecast

In 2024, the projected revenue in the Meal Delivery market in South Korea is expected to reach US$24.22bn.
This market is projected to show an annual growth rate (CAGR 2024-2029) of 1.69%, resulting in a projected market volume of US$26.33bn by 2029.
The Platform Deliverymarket in South Korea is projected to have a market volume of US$14.69bn in 2024.
When compared globally, China is expected to generate the highest revenue of US$184.50bn in 2024.
The average revenue per user (ARPU) in the Meal Delivery market in South Korea is projected to amount to US$775.70 in 2024.
By 2029, the number of users in this market is expected to reach 33.6m users.
The user penetration in the Meal Delivery market is projected to be at 60.3% in 2024.
South Korea's meal delivery market is thriving, with a wide range of options and convenient services catering to the busy lifestyles of its tech-savvy population.

Definition:

Meal Delivery is the online ordering and delivery of prepared meals by a restaurant or a platform for direct consumption. Orders are typically placed in an app or on a website. The delivery is handled by the platform enterprise (e.g. Deliveroo) or directly by the restaurant (e.g. Domino’s).

Structure:

Meal Delivery contains the user and revenue development of two different delivery service solutions for prepared meals: (1) Restaurant Delivery and (2) Platform Delivery. The Restaurant Delivery market includes the delivery of meals carried out directly by the restaurants. The order may be made via platforms (e.g. Delivery Hero, Just Eat) or directly through a restaurant website (e.g. Domino's). The Platform Delivery market focuses on online delivery services that provide customers with meals from partner restaurants that do not necessarily have to offer food delivery themselves. In this case, the platform (e.g. Deliveroo) handles the delivery process.).

Additional Information:

Revenue includes the gross merchandise value (GMV), defined as the total sales dollar value for merchandise/food sold through the Online Food Delivery marketplace. User and revenue figures represent B2C services.

Meals ordered online which are directly delivered by the restaurant, no matter if ordered via a platform (e.g. Delivery Hero) or a restaurant website (e.g. Domino's)
Online meal order and delivery both carried out by a platform (e.g. Deliveroo)
Online orders that are picked up in the restaurant

Phone orders
Deliveries of non-processed or non-prepared food (e.g. HelloFresh)

South Korea, a country known for its technological advancements, has seen a significant increase in the Meal Delivery market in recent years.

Customer preferences: South Koreans are known for their busy lifestyle, which has led to a rise in demand for convenient and time-saving options. Meal Delivery services have become increasingly popular as they provide customers with a hassle-free way to enjoy their favorite meals without having to leave their homes or offices.

Trends in the market: One of the major trends in the Meal Delivery market in South Korea is the increasing adoption of mobile technology. With the majority of the population owning smartphones, Meal Delivery companies have been able to leverage this trend by offering mobile applications that allow customers to order food with just a few taps on their screens.Another trend in the market is the growing demand for healthy food options. South Koreans are becoming more health-conscious, and Meal Delivery companies are responding by offering a wider range of healthy food options, including vegetarian and vegan meals.

Local special circumstances: South Korea has a unique food culture, with a strong emphasis on traditional dishes. However, the Meal Delivery market has also seen a rise in demand for international cuisine, particularly from Western countries. This has led to the emergence of Meal Delivery companies that specialize in delivering food from various international cuisines.

Underlying macroeconomic factors: South Korea has a highly developed economy, with a strong focus on technology and innovation. The country has a high level of internet penetration and a tech-savvy population, which has helped to drive the growth of the Meal Delivery market.In conclusion, the Meal Delivery market in South Korea is experiencing significant growth due to the busy lifestyle of its population, the increasing adoption of mobile technology, and the growing demand for healthy food options. Additionally, the unique food culture of South Korea and the country's highly developed economy have also contributed to the growth of the market.

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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