The Restaurant-to-Consumer Delivery segment of the eServices industry experienced significant growth due to the lockdowns of 2020. In the US the momentum has evidently carried over into 2021, as the segment is poised to breach an important benchmark. According to data presented by Trading Platforms, the Restaurant-to-Consumer Delivery segment in the US is projected to breach the $20B revenue mark for the first time and reach $22.54B.
Restaurant-to-Customer Delivery Segment To Beach $20B Revenue Mark in 2021
The outbreak of the COVID-19 pandemic in 2020 was a paradigm shifter across all industries, with many suffering record-setting contractions. But the demands of the pandemic also helped usher in the emergence of several industries, like the eServices industry, which provided convenient solutions to the ‘new normal’ conditions of 2020.
The Restaurant-to-Consumer Delivery (RTCD) segment was one of those that capitalized on the lockdowns of 2020 and as a result, added almost $5B worth of revenue in 2020 for growth of more than 32%. In 2021 that momentum is set to continue as the RTCD segment is projected to grow a further 13.8% and reach $22.45B, passing the important $20B benchmark for the first time.
From 2021-2025 the segment is projected to grow at a compound annual growth rate (CAGR) of 9.1%, reaching $31.82B by the end of the forecast period. Globally, China is the largest revenue-generating country for the RTCD segment with projected revenue of $53.53B for 2021. The US is next on the list and is trailed by India’s projected revenue of $9.66B.
1 in 3 Americans Are Users of Restaurant-to-Customer Delivery Segment: Denmark Leads Globally With 44% Penetration Rate
The lockdowns imposed across the world saw the emergence of ‘couch commerce’ as brick-and-mortar stores and businesses were forced to shut. This resulted in the RTCD segment adding more than 20M users in the US to reach 100M total users. In 2021 the number of users is projected to rise to 112M with the penetration rate set to reach 33.8% which translates to about one in three Americans.
Globally, Denmark has the highest penetration rate for the RTCD segment with 43.7%. Austria rounds out the top 5 penetration rates globally with 36.9%, notably still higher than the penetration rate in the US.
Rex Pascual, editor at Trading Platforms, commented:
“Despite the rosy forecast, the RTCD segment is still yet to stabilize with the recent paradigm shift bearing fruit to M&A deals being struck all over the segment. It will also be interesting to see the relationship of the segment with other delivery models such as those provided by services like Deliveroo or Uber Eats with many forecasters seeing the two segments eventually consolidate into one.”
Share
Question & Answers (0)