The online food delivery market has been explosive. In Canada for example, food delivery revenues hit $2.5 billion in 2020, according to Statista. By 2024, that number could be up to $3.4 billion. Over the next decade, analysts at Euromonitor say the market could be worth more than $1 trillion. Even better, “Nowadays, food delivery has become a global market worth more than $150 billion, having more than tripled since 2017. In the United States, the market has more than doubled during the pandemic, following healthy historical growth of 8 percent,” says McKinsey & Company. That could create a windfall opportunity for companies such as
Komo Plant Based Foods (CSE:YUM) (OTC:KOMOF), Uber Technologies Inc. (NYSE:UBER), DoorDash Inc. (NYSE:DASH), Deliveroo (OTC:DROOF), and Just Eat Takeaway.com (NASDAQ:GRUB).
Look at Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)
Komo Plant Based Foods Inc., a premium plant-based food company, is pleased to announce that it is near completion of its Komo Eats menu for Komo’s ghost kitchen concept, which will offer a selection of freshly made, hot and ready, plant-based comfort meals through on-demand delivery apps like DoorDash and Uber Eats.
Komo is planning to launch Komo Eats next month in Vancouver, British Columbia, where it can make and deliver meals out of its commercial kitchen, which is located close to downtown. The meals have been created using the same principles that were used to create Komo’s signature plant based comfort foods - always easy, wholesome and hearty.
“At Komo, we’re on a mission to make plant-based meals a staple and the launch of Komo Eats will be another avenue for us to share more hearty and wholesome plant-based favourites,” says Komo operating subsidiary Komo Comfort Foods CEO Jeffrey Ma. “Our team who designed our frozen plant-based products is now finalizing the menu for Komo Eats. We are especially excited to build out this platform as an opportunity to innovate quickly and test out ideas that can potentially become retail products. We have many ideas but the challenge with commercializing products is the time and resources it requires and the uncertainty about whether consumers will embrace a new product in the marketplace. Komo Eats will allow us to get feedback early on to help mitigate this risk and learn about what our customers want. The bonus is that at the same time, we are sharing our mission and building our brand.”
In addition to providing an additional revenue stream, Komo Eats will provide useful consumer and other data for product development for Komo’s plant-based comfort foods. Other companies, like Upton’s Natural and Amy’s Kitchen have its Upton Breakroom and Amy’s Drive Thru branches to complement their retail brand and products
Ghost kitchens are commercial kitchens that do not have a physical storefront that are used for food preparation and delivery. Komo’s ghost kitchen will allow it to launch the Komo Eats brand across multiple delivery apps, generate revenues from food sales and increase its customer base without the costs associated with a restaurant or store front. The potential market for ghost kitchens is significant as, according to Statista, revenue in the restaurant-to-consumer delivery market is projected to reach US$4 Billion in 2021 in Canada alone, with a projected market volume of US$6 Billion by 2025.
https://www.statista.com/outlook/dmo/eservices/online-food-delivery/restaurant-to-consumer-delivery/canada
Komo expects many customers to engage with its Komo Eats digital storefront as their initial contact with the Komo brand. According to Skip the Dishes, the most popular food delivery Canada service, 81% of customers have ordered from a restaurant they have never visited in person. https://reviewlution.ca/resources/food-delivery-statistics
Other related developments from around the markets include:
Uber Technologies Inc. announced that it has completed its acquisition of Drizly and that the two companies will begin integrating their complementary delivery apps and services. The purchase consideration was approximately $1.1 billion, consisting of approximately 18.7 million newly issued shares of Uber common stock plus cash. Drizly is the leading on-demand alcohol marketplace in North America, available and designed to be fully compliant with local regulations in more than 1,600 cities across 33 US states. Drizly works with thousands of local retailers to provide consumers with an unmatched shopping experience and the largest selection of beer, wine, and spirits.
DoorDash Inc. announced that the company's third quarter 2021 financial results will be released after market close on Tuesday, November 9, 2021. The company's earnings press release and shareholder letter will be made available on the DoorDash Investor Relations website at ir.doordash.com. DoorDash will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. Interested parties may register for and access the live webcast of the call at the DoorDash Investor Relations website at ir.doordash.com. Following the call, a replay will be available at the same website.
Deliveroo launched a new rapid grocery delivery service. 'Deliveroo Hop' will operate from delivery-only grocery stores offering consumers grocery in as little as 10 minutes. The service will benefit from a deep integration between Deliveroo's newly-developed grocery management technology and the company's logistics algorithms and network of over 50,000 delivery riders across the UK. Rapid grocery delivery will sit alongside Deliveroo's existing and fast-growing on-demand grocery service, which already delivers from over 4,600 partner grocery stores across the UK.
Just Eat Takeaway.com, one of the world’s largest online food delivery marketplaces, hereby issues a trading update for the third quarter of 2021. With most of the world returning to pre-pandemic life, our growth in the third quarter of 2021 has remained strong. Just Eat Takeaway.com is well-positioned for autumn and winter, our traditional growth season. Just Eat Takeaway.com processed 266 million orders in the third quarter of 2021, representing a 25% increase compared with the same period of 2020. GTV amounted to €6.8 billion in the third quarter of 2021, up 23% compared with the same period of 2020. The investment programme in the UK continued to drive sustainable network effects. Just Eat in the UK reached more than 200 million orders in the first nine months of 2021, up 51% in the third quarter of 2021 compared with the same period last year. Just Eat UK surpassed the one billion orders milestone since its foundation, demonstrating its enormous scale and longevity.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Komo Plant Based Foods has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares Komo Plant Based Foods. Please click here for full disclaimer.
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