1 in 4 APAC consumers picks delivery over dine-in in 2024
Delivery is set to make up 26% of Asia Pacific’s foodservice market by 2029.
Delivery leads the consumer foodservice market in the Asia Pacific, increasing from 10% in 2019 to 23% in 2024, according to data analytics company Euromonitor International.
Euromonitor International’s World Market for Consumer Foodservice 2025 report highlights that this growth is driven by robust expansion in the Asia Pacific region, which contributed 40% of global foodservice sales, with a 6% forecast Compound Annual Growth Rate (CAGR) for 2029.
Globally, delivery makes up 21% of the global consumer foodservice market in 2024, up from 9% in 2019.
Despite economic uncertainties, the global consumer foodservice industry grew in 2024, reaching a total market value of $3.2t, a 5.5% increase from 2023.
The Asia Pacific foodservice industry reached a total market value of $1.3t in 2024, a 6% increase from 2023, surpassing pre-Covid levels last year.
“Inflation and economic uncertainty remain major concerns for consumers. Despite global transactions recovering to pre-pandemic levels, indicating strong demand in the industry, consumers are still cutting back on spending and opting for more affordable options,” Rocio Franco, senior consultant at Euromonitor International, said.
Delivery is projected to account for 26% of Asia Pacific’s foodservice market by 2029, whilst eat-in is expected to see its share stagnate at 64%.
Offering convenience and value, third-party players have amplified this with aggressive discount competition and increased loyalty programme subscriptions, often removing delivery or service charges to enhance frequency in orders.
Limited-service restaurants are also experiencing a boom, appealing to cost-conscious diners as they offer a flexible range of products. By strategising on ‘snackification’ with options ranging from smaller-sized, budget-friendly products to more premium choices, this strikes a balance between value and quality for consumers.
Franco suggests that restaurant operators strategically offer value beyond pricing. He cited the need to focus on enhancing experiences, embracing digitalisation, and building brand loyalty.
Beverage chains surge
Meanwhile, findings from the report said that drink-related foodservice categories are booming in Asia Pacific, with specialist coffee and tea outlets seeing the highest growth at 13% in 2024, reaching a value of $9b.
The report said that such products have become a popular “everyday luxury” in a cost-conscious environment, as they offer consumers an affordable indulgence and a way to socialise.
Driven by strategic initiatives such as expanding product offerings and increasing store counts domestically and internationally, such specialist coffee and tea operators are seeing significant growth in countries including Singapore.
The rapid expansion and competitive pricing of such operators has solidified their presence in Asia and beyond, intensifying the battle for growth opportunities and market dominance even with global rivals.
