Online food delivery in Latin America - statistics & facts
The wide range of foods offered and the possibility of enjoying them with just a couple of clicks from the comfort of home is a winning combination that has boosted online food delivery worldwide. In Latin America, the food service business has always enjoyed great dynamism, but the online delivery boom spawned by the COVID-19 outbreak intensified consumer demand. Despite the economic challenges posed by the cost-of-living crisis, the regional food delivery market remains on an upward trajectory. Estimates indicate that revenues generated by this sector will exceed 33 billion U.S. dollars in 2023, nearly 24 percent more than the previous year.
Rappi's expansion has shaken the region's delivery industry, forcing rivals to find new ways to stay competitive. One notable contender is Berlin-based Delivery Hero, strategically seeking to dominate the market through a series of mergers and acquisitions. To tighten its grip on the regional market, Delivery Hero acquired the Latin American operations of Spanish unicorn Glovo in 2020. A year later, it purchased the Salvadoran super app Hugo for about 150 million U.S. dollars. In addition, Delivery Hero's former brand, Domicilios.com, merged with Brazilian iFood in mid-2021.
Pronto is priceless
Not only did the global pandemic reveal a new appetite for restaurant food delivery, but it also exposed other opportunities hidden beneath the surface. In Latin America, some major players in the sector extended their domain to include a wider variety of products, such as groceries and essential commodities. Following the global trend, ultra-fast product delivery services, better known as Quick commerce, flourished across the region.
In mid-2020, PedidosYa launched PedidosYa Market, a fully online supermarket with ultra-rapid 15-minute deliveries. A year later, Rappi joined the trend with its q-commerce service Turbo-Fresh. As of 2023, PedidosYa Market operated 175 dark stores, while Turbo-Fresh exceeded this number, boasting over 430 dark stores in 2022. Other regional players, like iFood and Yummy, have also established themselves as speed-based delivery unicorns. Amid such fierce competition, food delivery companies must continuously enhance their offerings, striving to provide more, better, and faster delivery options.
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