The Online Food Delivery market in Serbia has seen significant growth in recent years, reflecting a global trend towards increased demand for food delivery services.
Customer preferences: Serbian customers have shown a growing preference for online food delivery due to the convenience it offers. With busy lifestyles and long working hours becoming increasingly common, many people are looking for ways to save time and effort when it comes to meal preparation. In addition, the COVID-19 pandemic has accelerated the trend towards online food delivery as people have been encouraged to stay at home and avoid crowded places.
Trends in the market: The Online Food Delivery market in Serbia has seen a surge in the number of players entering the market, leading to increased competition. As a result, companies are looking for ways to differentiate themselves by offering unique services and features such as faster delivery times, wider selection of restaurants, and more flexible payment options. Another trend in the market is the growing popularity of healthy food options, with many customers looking for healthier meal choices and restaurants offering organic and locally-sourced ingredients.
Local special circumstances: Serbia's food culture is heavily influenced by its history and geography, with a mix of Balkan, Mediterranean, and Central European cuisine. This has resulted in a diverse range of food options being available for online delivery, including grilled meats, seafood, and traditional dishes such as cevapi and burek. Additionally, the country's capital city, Belgrade, has emerged as a hub for food delivery startups, with a number of local companies competing with global players such as Glovo and Uber Eats.
Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with a focus on attracting foreign investment and improving infrastructure. This has led to an increase in disposable income for many people, which has contributed to the growth of the Online Food Delivery market. Additionally, the country's young population, high smartphone penetration, and improving internet connectivity have all contributed to the growth of the market. However, challenges such as a lack of regulation and infrastructure in some areas, as well as the impact of the COVID-19 pandemic, continue to pose risks to the market's growth.
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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