The Meal Delivery market in Southern Asia has been experiencing significant growth in recent years due to various factors such as changing customer preferences and local special circumstances.
Customer preferences: One of the main drivers of the growth in the Meal Delivery market in Southern Asia is the increasing demand for convenience and time-saving options among customers. With the rise of busy lifestyles, customers are increasingly turning to meal delivery services as a way to save time and effort in meal preparation. Additionally, the growing popularity of healthy eating and dietary restrictions has led to an increasing demand for customizable meal options, which many delivery services offer.
Trends in the market: The Meal Delivery market in Southern Asia has seen the emergence of several trends in recent years. One of these trends is the rise of cloud kitchens, which are delivery-only kitchens that operate without a physical storefront. These kitchens are able to offer a wider range of cuisine options and can operate with lower overhead costs, making them an attractive option for entrepreneurs. Another trend is the increasing use of technology in the meal delivery process, such as mobile apps and online ordering systems. This has made it easier for customers to place orders and track their deliveries, leading to a more seamless and convenient experience.
Local special circumstances: The Meal Delivery market in Southern Asia is also influenced by local factors such as the region's diverse culinary traditions and the prevalence of street food culture. Many meal delivery services have capitalized on this by offering a wide range of cuisine options, including street food favorites. Additionally, the region's hot and humid climate has led to a preference for lighter, more refreshing meals, which many delivery services have incorporated into their menus.
Underlying macroeconomic factors: The growth of the Meal Delivery market in Southern Asia is also supported by underlying macroeconomic factors such as rising disposable incomes and urbanization. As more people move to urban areas and earn higher incomes, they are increasingly willing to spend money on convenient and high-quality meal options. Additionally, the region's large and growing population provides a significant market for meal delivery services to tap into.
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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