Asia Pacific Food Platform-to-Consumer Delivery Market Size

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.