Market Insights eCommerce Online Food Delivery Meal Delivery

Restaurant Delivery - Serbia

Serbia

The Restaurant Delivery market in Serbia is poised for significant growth, with projected revenue expected to reach US$33.64m by 2024.
This represents a substantial increase in market volume, driven by an estimated annual growth rate (CAGR 2024-2029) of 5.69%.
By 2029, the market is anticipated to expand further, reaching a projected volume of US$44.36m.
In terms of user base, the Restaurant Delivery market in Serbia is expected to witness a significant rise, with the number of users reaching 1.4m users by 2029.
This growth is further supported by an anticipated increase in user penetration, which is expected to reach 20.1% by 2029, up from 16.5% in 2024.
When considering the average revenue per user (ARPU), it is projected to amount to US$28.68.
This metric provides insight into the financial performance of the market and highlights the potential for profitability in the sector.
In a global comparison, United States is expected to generate the highest revenue in the Restaurant Delivery market, with an estimated revenue of US$36,950.00m in 2024.
This showcases the prominence of the United States in the industry and its significant contribution to the overall market.
Furthermore, South Korea is anticipated to have the highest user penetration rate in the Restaurant Delivery market, projected to reach 53.1%.
This indicates the strong adoption and popularity of restaurant delivery services South Korea.
Overall, the Restaurant Delivery market in Serbia holds great potential for growth, driven by increasing revenue, expanding user base, and rising user penetration rates.
With its unique market dynamics, in Serbia is poised to make a significant impact on the global Restaurant Delivery market industry.
The restaurant delivery market in Serbia is booming, with a wide range of local and international food options available for convenient and efficient home delivery.

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Analyst Opinion

The restaurant delivery market in Serbia has been rapidly growing in recent years, with more and more consumers opting for the convenience of ordering food online and having it delivered to their doorstep.

Customer preferences: Serbian consumers have embraced the ease and convenience of ordering food online, with many preferring to use mobile apps to place their orders. This trend is particularly popular among younger generations who are more tech-savvy and have grown up with smartphones and other digital devices. Furthermore, customers in Serbia are also seeking out healthier options, with many restaurants now offering vegetarian and vegan dishes to meet this growing demand.

Trends in the market: One of the biggest trends in the Serbian restaurant delivery market is the rise of local, independent delivery services. These companies are able to offer more personalized and flexible services than larger, international brands, and are often able to provide faster delivery times. Additionally, many restaurants in Serbia are now partnering with multiple delivery services to reach a wider customer base and increase their online visibility.

Local special circumstances: The Serbian restaurant delivery market is unique in that it is heavily influenced by the country's cultural and historical heritage. Traditional Serbian cuisine is a major draw for tourists, and many restaurants are now offering traditional dishes for delivery to cater to this demand. Additionally, Serbian cuisine has a strong emphasis on meat, which can make it challenging for vegetarian and vegan customers to find suitable options.

Underlying macroeconomic factors: Serbia's economy has been steadily growing in recent years, with rising incomes and a growing middle class. This has led to increased spending on dining out and food delivery, as consumers have more disposable income to spend on these services. Additionally, the COVID-19 pandemic has accelerated the shift towards online ordering and delivery, as consumers seek out safer and more convenient ways to access food.

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.