South Korea; Food Delivery Services
Seeking background information about the South Korean food delivery services market, including key players and partnership trends. This research will be used for business development and potential partnerships.
Our background research about the South Korean food delivery services market unveiled the following information:
Key Players (By Market Share)
- Market reports and media sources like Allied Market Research, Retail in Asia, Korean Herald cited Baedal Minjok, Yogiyo, and Baedaltong as the key players of the market.
- Baedal Minjok is one of the very first food delivery apps in South Korea to reach 10 million user count. The application has about "10.3 million monthly active users."
- The company holds a market share of 55.7% in the South Korean food delivery service market.
- Delivery Hero owns Yogiyo and Baedaltong, and both these companies are the biggest competitors of Baedal Minjok. Yogiyo has a market share of 33.5%, and Baedaltong has 10.8%. These platforms also have the highest user count in the market.
- "Baedal Minjok, a leading mobile delivery app run by local startup Woowa Brothers, raked in 84.8 billion won ($74.8 million) in revenue last year."
- Korean Herald's recent article about the food services delivery market highlighted that these key players are planning for strategic M&As in order to expand their business operations. For instance, Yogiyo recently invested in Barogo and Mesh Korea; a food delivery service platform recently partnered with Kakao, which is a messenger service provider in South Korea.
Proposed next steps:
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Our background research provided some relevant insights about the market and its key players (based on market share). It is evident that there is ample information available to provide a comprehensive report about the key players in the market.
1) We propose further analysis; a report providing three more players in the market and providing details about Baedal Minjok, Yogiyo, and Baedaltong (revneue, user count).
2) We also recommend individual reports about the key players (Baedal Minjok, Yogiyo, and Baedaltong), including information about their past partnerships (last two years), current partnerships, future plans, and any other relevant information available. For this report, we will focus on partnerships with with brands, banks, and charities.