Market Insights eCommerce Online Food Delivery Meal Delivery

Platform Delivery - Philippines

Philippines

The Platform Delivery market in the Philippines is projected to see a significant increase in revenue, reaching an estimated value of US$1.18bn in 2024.
This growth is expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 5.33%.
As a result, the market volume is projected to reach US$1.53bn by 2029.
In terms of user base, the Platform Delivery market in the Philippines is expected to have around 17.7m users users by 2029.
This indicates a consistent growth in user penetration, which is projected to increase from 11.6% in 2024 to 13.8% by 2029.
The average revenue per user (ARPU) in the Platform Delivery market in the Philippines is estimated to be US$85.21.
This indicates the average amount of revenue generated by each user in this market.
When compared globally, China is expected to generate the highest revenue in the Platform Delivery market, reaching a staggering US$165,200.00m in 2024.
Additionally, China also boasts the highest user penetration rate in this market, projected to be 52.3%.
Overall, the Platform Delivery market in the Philippines shows promising growth potential, both in terms of revenue and user base, contributing to the country's economic development in this sector.
The Philippines is experiencing a surge in demand for platform delivery services, driven by the growing popularity of online shopping and the need for convenient and efficient delivery options.

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Analyst Opinion

The Platform Delivery market in Philippines has been experiencing steady growth in recent years.

Customer preferences: Consumers in the Philippines have shown a growing preference for online shopping and food delivery services, which has led to an increase in demand for platform delivery services. The convenience and ease of ordering through a mobile application has made platform delivery services increasingly popular among Filipinos.

Trends in the market: One of the major trends in the Platform Delivery market in the Philippines is the emergence of new players in the market. The market has become increasingly competitive, with new players entering the market to meet the growing demand for platform delivery services. This has led to a wider variety of services and options for consumers to choose from.Another trend in the market is the increasing use of technology to improve the delivery process. Many platform delivery services in the Philippines have started using artificial intelligence and machine learning algorithms to optimize delivery routes and improve delivery times. This has allowed them to provide faster and more reliable delivery services to customers.

Local special circumstances: The Philippines has a large population of young people who are tech-savvy and comfortable with using mobile applications. This has made the country an attractive market for platform delivery services. Additionally, the country has a growing middle class with increasing disposable income, which has led to higher spending on online shopping and food delivery services.

Underlying macroeconomic factors: The Philippines has a growing economy with a GDP growth rate of around 6% in recent years. This has led to an increase in consumer spending and a growing demand for platform delivery services. Additionally, the government has been supportive of the growth of the technology industry, which has led to an increase in investment in the sector.In conclusion, the Platform Delivery market in the Philippines has been growing steadily due to the increasing popularity of online shopping and food delivery services. The market has become increasingly competitive, with new players entering the market to meet the growing demand. The use of technology to improve delivery processes has also been a major trend in the market. The country's young and tech-savvy population, growing middle class, and supportive government policies have also contributed to the growth of the market.

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.