Market Insights eCommerce Online Food Delivery Meal Delivery

Restaurant Delivery - Madagascar

Madagascar

The Restaurant Delivery market in Madagascar is projected to reach a revenue of US$1.17m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 11.21%, resulting in a projected market volume of US$1.99m by 2029.
By 2029, the number of users in the Restaurant Delivery market is expected to amount to 244.7k users.
The user penetration in the market will be 0.6% in 2024 and is expected to reach 0.7% by 2029.
The average revenue per user (ARPU) is projected to be US$6.61.
When compared globally, United States is expected to generate the highest revenue in the Restaurant Delivery market, with US$36,950.00m in 2024.
On the other hand, South Korea is projected to have the highest user penetration rate of 53.1%.
Madagascar's restaurant delivery market is experiencing a surge in demand due to the growing urban population and increasing reliance on convenience.

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Analyst Opinion

Madagascar, known for its unique wildlife and biodiversity, is also witnessing a significant growth in its restaurant delivery market.

Customer preferences: The restaurant delivery market in Madagascar is driven by the increasing demand for convenience and time-saving services. Customers prefer to order food online and have it delivered to their doorstep, especially in urban areas where people have busy lifestyles and limited time for cooking. The availability of a wide range of cuisines and affordable prices also attracts customers to use restaurant delivery services.

Trends in the market: The restaurant delivery market in Madagascar is witnessing a shift towards digitalization, with more restaurants adopting online ordering and delivery platforms. This trend is driven by the increasing use of smartphones and the internet, which has made it easier for customers to order food online. Furthermore, the COVID-19 pandemic has accelerated the adoption of online ordering and delivery platforms, as people prefer contactless delivery options.

Local special circumstances: Madagascar has a unique cuisine, which is a blend of African, Asian, and European influences. The local cuisine includes dishes such as Ravitoto (pork stew with cassava leaves) and Romazava (beef stew with leafy greens). The restaurant delivery market in Madagascar is also influenced by the country's tourism industry, with many restaurants catering to foreign tourists by offering international cuisines.

Underlying macroeconomic factors: Madagascar has a growing middle class with increasing disposable income, which is driving the demand for restaurant delivery services. The country's GDP growth rate has been steady over the past few years, which has created a favorable environment for businesses to grow and expand. However, the restaurant delivery market in Madagascar also faces challenges such as poor infrastructure and logistics, which can impact the delivery time and quality of service.

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.