Market Insights eCommerce Online Food Delivery Meal Delivery

Restaurant Delivery - Montenegro

Montenegro

The Restaurant Delivery market in Montenegro is expected to experience significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$2.44m by 2024.
This number is expected to grow at an annual rate of 6.80%, resulting in a projected market volume of US$3.39m by 2029.
In terms of user base, the number of users in Montenegro's Restaurant Delivery market is expected to reach 68.3k users by 2029.
This indicates a user penetration rate of 8.8% in 2024, which is projected to increase to 11.0% by 2029.
The average revenue per user (ARPU) in Montenegro's Restaurant Delivery market is expected to be US$44.34.
This indicates the amount of revenue generated per individual user.
When compared globally, it is worth noting that United States is projected to generate the highest revenue in the Restaurant Delivery market, reaching a staggering US$36,950.00m in 2024.
Furthermore, the country with the highest user penetration rate in the Restaurant Delivery market is South Korea, with a projected rate of 53.1%.
This indicates that a significant portion of the population South Korea is expected to utilize restaurant delivery services.
Montenegro's restaurant delivery market is experiencing a surge in demand due to the country's growing tourism industry.

Market

Region

Region comparison

Currency

Analyst Opinion

Montenegro, a small country situated in Southeast Europe, is experiencing a surge in the restaurant delivery market. With a population of around 620,000 people, Montenegro has a diverse culinary scene, ranging from traditional Balkan cuisine to international dishes. The restaurant delivery market has been growing steadily in recent years, and it shows no signs of slowing down.

Customer preferences: The Montenegrin population has shown a growing preference for convenience and speed when it comes to food delivery. The rise of technology and the availability of mobile apps has made it easier for customers to order food online and have it delivered to their doorstep. Additionally, with the ongoing COVID-19 pandemic, many people have shifted to ordering food online as a way to avoid crowded restaurants.

Trends in the market: One of the major trends in the Montenegrin restaurant delivery market is the increasing number of restaurants that offer delivery services. Many restaurants have recognized the potential of the delivery market and have started to offer delivery services through third-party platforms or through their own websites. Another trend in the market is the growing popularity of international cuisines, especially among younger generations. This has led to the emergence of new delivery-only restaurants that specialize in international dishes.

Local special circumstances: Montenegro's geography and infrastructure have also contributed to the growth of the restaurant delivery market. The country's mountainous terrain and scattered population make it difficult for people to travel long distances to dine out. Additionally, the lack of parking spaces and traffic congestion in urban areas further discourage people from going out to eat. As a result, the restaurant delivery market has become an attractive alternative for people who want to enjoy restaurant-quality food from the comfort of their own homes.

Underlying macroeconomic factors: Montenegro's economy has been growing steadily in recent years, and this has had a positive impact on the restaurant delivery market. The country's GDP per capita has been steadily increasing, and this has led to a rise in disposable income. Additionally, the growth of the tourism industry in Montenegro has also contributed to the growth of the restaurant delivery market. With an increasing number of tourists visiting the country, there is a growing demand for food delivery services that cater to their needs.

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.