Foodservice is increasingly popular among single, young urban consumers and dual-income households
According to GlobalData, Germany-based Delivery Hero has bought South Korea’s top food delivery app Woowa for about $4 billion. The acquisition is in line with Hero’s strategy to expand leadership in the Asia-Pacific (APAC) region.
The research says that Asian share in the global foodservice delivery market is expected to grow by 4% in two years. The number of transactions in the delivery takeaway market in APAC stands at 14.6 billion in 2018, expected to reach 18.6 billion by 2022.
South Korea is one of the world’s biggest online food delivery markets. GlobalData reveals that the country carried out 813.1 million transactions in terms of delivery takeaway, expecting to reach 942.5 million by 2022.