Market Insights eCommerce Online Food Delivery Meal Delivery

Platform Delivery - Cuba

Cuba

The Platform Delivery market in Cuba is projected to reach a revenue of US$1.04m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 10.33%, resulting in a projected market volume of US$1.70m by 2029.
Moreover, the number of users in the Platform Delivery market is expected to amount to 122.0k users by 2029.
The user penetration is projected to increase from 0.7% in 2024 to 1.1% by 2029.
The average revenue per user (ARPU) is expected to be US$13.51.
In global comparison, China is expected to generate the highest revenue in the Platform Delivery market, reaching US$165,200.00m in 2024.
Additionally, China has the highest user penetration rate in the Platform Delivery market, projected at 52.3%.
With the recent opening of Cuba's economy, the platform delivery market is experiencing significant growth as more businesses adopt online platforms to reach customers.

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Analyst Opinion

The Platform Delivery market in Cuba has been experiencing a gradual development over the past few years.

Customer preferences: Cuban customers have shown a growing interest in online shopping and food delivery services, which has contributed to the growth of the Platform Delivery market. Due to the lack of access to transportation and limited store options, customers have turned to online platforms to fulfill their needs.

Trends in the market: The Platform Delivery market in Cuba has seen a surge in demand for food delivery services due to the COVID-19 pandemic. With the implementation of social distancing measures, customers have been relying on online platforms to order food from their favorite restaurants. This trend has led to an increase in the number of restaurants partnering with delivery platforms to expand their customer base.

Local special circumstances: The Cuban government has implemented strict regulations on internet usage, which has limited the growth of the Platform Delivery market. Limited access to the internet and low internet speeds have also hindered the growth of online platforms. Additionally, the lack of access to international payment systems has made it difficult for customers to make online purchases.

Underlying macroeconomic factors: The Cuban economy has been struggling due to the impact of the COVID-19 pandemic and the U.S. embargo. This has led to a decrease in consumer spending, which has affected the growth of the Platform Delivery market. Additionally, the limited access to foreign investment has made it difficult for online platforms to expand their operations in Cuba.

Methodology

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.