Restaurant-To-Customer Delivery Market Expanding
The Restaurant-to-Consumer Delivery segment of the eServices industry is projected to generate revenues of US $22.54 Billion in 2021, further extending gains from the lockdowns of 2020 in the United States.
According to data from TradingPlatforms.com, the Covid-19 pandemic served as a catalyst for the expansion of the eServices industry, with consumers taking advantage of convenient solutions to the ‘new normal’ conditions last year.
The figures suggest the Restaurant-to-Consumer Delivery (RTCD) segment added almost US $5 billion worth of revenue during the course of 2020 and expanded by more than 32 per cent. In 2021 that momentum is set to continue, with the RTCD segment projected to grow by a further 13 per cent.
From 2021-2025 the segment is projected to grow at a compound annual growth rate (CAGR) of 9.1 per cent, reaching US $31.82 billion by the end of the forecast period. Globally, China is the segment’s most significant revenue-generating country with projected revenue of US $53.53 billion for 2021. The U.S. is second and trailed by India’s projected revenue of US $9.66 billion.
Denmark Leads Globally with 44 per cent Penetration Rate
The data on the emergence of ‘couch commerce’ in response to the closure of brick-and-mortar stores and businesses further suggests the RTCD segment will add more than 20 million users in the United States to reach a total of 100 million. In 2021, the number of users is projected to rise to 112 million – with the penetration rate set to reach 33.8 per cent (or about-one-in-three Americans).
Globally, Denmark has the highest penetration rate for the RTCD segment with 43.7 per cent. Austria rounds out the top five penetration rates globally with 36.9 per cent, which is notably still higher than the penetration rate in the United States.
Rex Pascual, Trading Platforms editor, comments: “Despite the rosy forecast, the RTCD segment is still yet to stabilize with the recent paradigm shift bearing fruit to M&A deals being struck all over the segment.
“It will also be interesting to see the relationship of the segment with other delivery models such as those provided by services like Deliveroo or Uber Eats with many forecasters seeing the two segments eventually consolidate into one.”