The wide range of foods on offer and the possibility of enjoying them with just a couple of clicks from the comfort of our home, has been a winning combination that has favored the development of the online food delivery market at a global level. In Latin America, the food service business has not been immune to this trend. While the value of foodservice delivery sales quadrupled between 2014 and 2019, the revenue attributed to online orders is expected to reach 9.37 billion U.S. dollars in 2020.
A boost to regional innovation
The online food delivery trend is not only shifting the shopping behavior of consumers in Latin America, but also the environment for corporative financing and start-ups. The investment in the industry has been substantial in the last years. In 2019, the Colombian on-demand delivery company Rappi received an unprecedented one billion U.S. dollars investment from SoftBank Group Corp., making it the most funded Latin American company in this sector. In Brazil, iFood was the lead online food delivery app in 2019, recording over 26 million orders through the platform. Meanwhile, although based in Berlin, Delivery Hero operates in Latin America under the PedidosYa and Domicilios.com brands. The company has played an important role in strengthening the regional market by acquiring and joining forces with local companies.
COVID-19’s impact on the market
In 2020, the world was turned upside down by the outbreak of COVID-19. With people confined in their homes, food delivery has been critical in supporting the foodservice industry. Both Brazil and Mexico, the top online food delivery markets in Latin America, saw an increase in the use of delivery platforms. After the outbreak in Brazil, the number of delivery app downloads grew by 126 percent compared to the same period of 2019. The same applies to Mexico, where the number of visits to online food services also spiked. Considering the impact of the pandemic, forecasts for these markets indicate a steady growth in restaurant-to-consumer as well as platform-to-consumer delivery users.
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In the following 4 chapters, you will quickly find the 31 most important statistics relating to "Online food delivery in Latin America".