Market Size of Asia Pacific Food Platform-to-Consumer Delivery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.52 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Food Platform-to-Consumer Delivery Market Analysis
The market for food platform-to-consumer delivery in Asia-Pacific is expanding exponentially. The shift in consumer purchasing habits was brought on by the trend of buying meals through mobile applications. Some of the main factors that have fuelled the market expansion in the region include emerging economies, accessibility, and rising internet and smartphone usage. It is anticipated that the Asia-Pacific Food Platform-to-Consumer Delivery market will expand at a CAGR of 10.52% during the projection period.
- There are more emerging economies in this region than anywhere else, including those of China, India, Indonesia, Thailand, the Philippines, and Vietnam. Due to its favorable demography, robust consumer class expansion, urbanization, quick technological adoption, and digital transformation, this will continue to be one of the fascinating markets over the next 20 years. The improvement in the region's economic position is causing an increase in consumer spending power, which is a key component in the market's expansion.
- Considering the rising adoption and usage of mobile phones, the population of the Asia-Pacific region is becoming increasingly connected to digital information. The number of smartphone connections in APAC, which was 2 billion in 2021, will increase to 2.5 billion in 2025, according to the GSMA. This smartphone increase will help the Food Platform to Consumer Delivery market in the region because the market mostly operates through mobile applications.
- The APAC region is experiencing internet penetrations and 5G rollout in the region by various companies in an aggressive manner. For instance, the second wave of 5G rollouts is currently taking place in the Asia Pacific, with 5G activities gathering speed in several new markets as of 2021. In May, Telkomsel debuted commercial 5G services in Indonesia. In anticipation of their anticipated commercial deployments in 2022, Airtel and Reliance Jio in India have started testing their 5G networks. This is a driving factor for the Food Platform to Consumer Delivery market in the region because, with good network availability, the customers from rural areas can also use mobile devices to order food online.
- It takes considerable time to order with an online food delivery service. Customers looking for fast food should likely visit the restaurant independently rather than utilizing delivery services. Traffic, weather, a restaurant's level of busyness, and the complexity of a customer's order are frequently to blame for longer wait times for online meal delivery. Every service provider in the industry faces challenges in reducing delivery times while maintaining the same price.
- Since the start of the COVID-19 pandemic, multiple lockdowns and restriction measures taken by governments have generated a surge in demand for online food delivery services in the region. The COVID-19 pandemic has expedited the online meal delivery industry's expansion in Asia-Pacific. Additionally, the contactless delivery services provided by most businesses throughout the pandemic have fuelled industry expansion and transformed customer purchasing habits by establishing a new trend of ordering foods online.
APAC Food Platform-to-Consumer Delivery Industry Segmentation
Food Platform-to-Consumer Delivery market cover revenues of an online business that acts as an intermediary between consumers and multiple food facilities to submit food orders from a consumer to a participating food facility and to arrange for the delivery of the order from the food facility to the consumer. A food platform to consumer delivery model is a business model where the customers can get their favorite food by making an order via their smartphones or computers.
Asia Pacific Food Platform-to-Consumer Delivery market has been segmented based on the geography - China, India, South Korea, and the Rest of Asia Pacific.
| Geography | |
| China | |
| India | |
| South Korea | |
| Rest of Asia-Pacific |
Asia Pacific Food Platform-to-Consumer Delivery Market Size Summary
The Asia-Pacific food platform-to-consumer delivery market is experiencing significant growth, driven by changing consumer purchasing habits and the increasing use of mobile applications for food orders. This expansion is supported by factors such as emerging economies, enhanced accessibility, and the widespread adoption of smartphones and the internet. The region's favorable demographic trends, urbanization, and rapid technological advancements further contribute to the market's robust growth prospects. The COVID-19 pandemic has accelerated this trend, as lockdowns and restrictions have led to a surge in demand for online food delivery services, with contactless delivery options becoming a new norm. The rollout of 5G technology and improved internet penetration are also facilitating greater connectivity, enabling more consumers, including those in rural areas, to access these services.
The diverse economic landscape of the Asia-Pacific region, encompassing both emerging and developed economies, is boosting consumer purchasing power and demand for a variety of food options. This demand is met through food platform-to-consumer delivery services, which are becoming increasingly popular among consumers who prioritize convenience and quality. The young, tech-savvy population in the region is particularly driving this market, as they are more inclined to use online platforms for food purchases. The competitive landscape is dynamic, with numerous global and regional players vying for market share through strategic initiatives such as brand promotions and partnerships. Companies are also focusing on sustainability and quality to build consumer trust and loyalty.
Asia Pacific Food Platform-to-Consumer Delivery Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Force Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Assessment of COVID-19 Impact on the market
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 China
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2.1.2 India
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2.1.3 South Korea
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2.1.4 Rest of Asia-Pacific
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Asia Pacific Food Platform-to-Consumer Delivery Market Size FAQs
What is the current Asia Pacific Food Platform-to-Consumer Delivery Market size?
The Asia Pacific Food Platform-to-Consumer Delivery Market is projected to register a CAGR of 10.52% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Food Platform-to-Consumer Delivery Market?
Deliveroo , Foodpanda, Grab Food, Uber Eats and Zomato are the major companies operating in the Asia Pacific Food Platform-to-Consumer Delivery Market.
