As per the latest findings of Future Market Insights, global peer-to-peer dining market revenue is expected to be USD 6,146.1 Million by the end of 2023. In the long-term, the peer-to-peer dining market is estimated to reach at around USD 8,101.9 Million in 2033.
| Attribute | Details |
|---|---|
| Travel Gross Revenue (2023E) | USD 6,146.1 Million |
| Projected Market Size (2033F) | USD 8,101.9 Million |
| Value CAGR (2023 to 2033) | 2.8% |
| Peer-to-Peer Dining Market Top Players Share in 2022A | 2 to 5% |
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The peer-to-peer dining market has experienced significant growth in recent years, with many new companies entering the space and existing players expanding their offerings. This growth can be attributed to several; factors, including the increasing popularity of the sharing economy, a growing interest in unique and intimate dining experiences, and the growing use of social media and online platforms to promote Peer-to-Peer dining services.
Additionally, there has been an increase in the number of people travelling and looking for unique experiences and local knowledge when they travel. Peer-to-Peer dining companies have been able to leverage this trend to attract more customers and increase revenue.
However, it’s worth noting that the COVID-19 pandemic has significantly impacted the P2P dining market, as many countries have imposed restrictions on gatherings and social distancing measures have limited the number of guests that can be hosted at one time. As a result, companies in this market have had to adapt and shift their focus to online platforms and delivery services.
Pandemic has led to an Increase in Home Cooking and Interest in Homemade Meals
Peer-to-Peer dining market platforms allow individuals to connect with local hosts and experience a meal in a unique and authentic setting. The widespread availability of smartphones and the internet has made it easier people to find and book peer-to-peer dining experience. People are becoming more interested in trying new and unique foods, and Peer-to-Peer dining platforms provide a way to discover and experience different cuisines and cultures.
The COVID-19 pandemic has led to an increase in home cooking and interest in homemade meals and Peer-to-Peer dining platforms allow people to enjoy meals made by home cooks. Also, it is considered to be safer than traditional dining experiences because they can be held in private homes and the number of guests can be limited.
Social Media Platforms Have Become an Important Tool for People to Discover New Dining Experiences
The popularity of food services has grown significantly in recent years, making it easier for people to order meals from their favourite restaurants and have them delivered to their doorsteps. This trend has also boosted the peer-to-peer dining market, as more people are looking for unique dining experiences at home.
Social media platforms have become an important tool for people to discover new dining experiences, as well as to connect with other foodies and share recommendations. This has led to a greater awareness of Peer-to-Peer dining options and has made it easier for people to find and book meals.
Further, the economy has been on the rise in recent years, with more and more people looking for ways to share resources and save money. Peer-to-Peer dining fits well into this trend, as it allows people to share their homes and their meals with others.
People are also increasingly looking for unique and authentic dining experiences, rather than just going to a traditional restaurant. Peer-to-Peer dining offers a chance to try new and interesting foods in a relaxed and intimate setting, which is a big draw for many people.
Increased Competition in P2P Dining Sector Leads To More Options and Better Deals for Customers
Peer-to-Peer dining platform offers development opportunities for both hosts looking to share their cooking abilities and earn some additional cash and customers want to engage authentically with local cultures and cuisines. For instance, guests from all over the world can reserve a place at a host's traditional Italian dinner in Italy to sample the cuisine, discover the local way of life, and interact with the community.
Many peer-to-peer dining platforms now offer mobile apps that allow customers to easily browse and book experiences from their smartphones. This makes it more convenient for customers to find and book experiences on-the-go, which can drive more business to peer-to-peer dining providers.
Additionally, many platforms now offer integrated payment systems that allow customers to easily pay for their experiences through the app, which can help streamline the booking process and make it more convenient for customers.
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Peer-to-Peer Dining Market Has Faced Challenges from Regulators and Traditional Restaurants, Who Have Raised Concerns about Food Safety, Zoning and Competition
The Peer-to-Peer dining market in Germany is still a relatively new and emerging market, however, it has been gaining popularity in recent years. The market includes platforms that allow individuals to host meals in their homes and serve them to paying guests. This concept is also known as “home-sharing” or social dining”. In Germany, the market has faced challenges from regulators and traditional restaurants, who have raised concerns about food safety, zoning and competition.
However, despite these challenges, the market is expected to continue to grow as more people look for ways to monetize their skills and hobbies and as consumers become more interested in unique and authentic dining experiences. Some examples of popular peer-to-peer dining platforms in Germany include EatWith, VizEat, and BonAppetour.
It’s worth noting that some countries in Europe have restricted the market by implementing strict laws and regulations, and some platforms have had to cease their operation. However, some platforms have found ways to comply with the regulations and continue to operate, and some are still gaining momentum.
The Market Is Expected To Grow In the Coming Years As More People Become Interested In Unique and Authentic Dining Experiences
In India, the peer-to-peer dining market is still in the early stages of development and faces various challenges such as lack of awareness, concerns about food safety, and lack of legal and regulatory framework. However, there has been a growing interest in the concept in recent years, and some platforms have started to gain momentum.
Some examples of popular peer-to-peer dining platforms in India EatTreat, Dineout Gourmet Passport, and Dineout With Me. As the market is still in its early stages, the future of peer-to-peer dining market in India is uncertain, however, the market is expected to grow in the coming years as more people become interested in unique and authentic dining experiences, and as more platforms enter the market and create awareness about the concept.
Peer-to-Peer Dining Market Faces Challenges Such As Lack of Awareness, Concerns about Safety, Lack of Legal and Regulatory Framework
The peer-to-peer dining market, is relatively new in China. It is a form of sharing economy service, where individuals host meals in their homes and serve them to paying guests. The market is still in its early stages od development, but it has been gaining popularity in recent years.
In China, the peer-to-peer dining market faces challenges such as lack of awareness, concerns about safety, and lack of legal and regulatory framework. However, the market has been growing rapidly in recent years, as the Chinese government has been promoting the sharing economy as a way to boost economic growth.
Some examples of popular peer-to-peer dining platforms in China include Xiaochi, Meituan Waimai and Sherpas.
In China, the peer-to-peer dining market is expected to continue to grow in the coming years, as more people become interested in unique and authentic dining experiences and as the market becomes more regulated and standardized. However, the market is still facing a lot of challenges and competition, and it’s uncertain how it will evolve in the future.
The peer-to-peer dining market is a highly competitive industry, with several well-established companies and new startups entering the space. Some examples of major players in the market include EatWith, VizEat, and BonAppetour. These companies face competition not only from each other but also from traditional restaurants and other food-related businesses.
Some of the key differentiators that companies in this market uses to compete include offering unique and intimate dining experiences, showcasing the culinary skills of hosts, and providing guests with the opportunity to meet and interact with locals in a new city. To stay competitive, companies in this market must constantly innovate and differentiate themselves in order to attract customers.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Russia, India, China, Japan, Malaysia, Singapore, Australia, UAE, KSA, Italy, Qatar, Oman, RoW |
| Key Segments Covered | By Direct Suppliers, By Indirect Suppliers, By Number of Bookings(Demographic, Nationality, Booking Channel, Country) |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives, Spending, |
| Customization & Pricing | Available upon Request |
The 2023 market value is USD 6,146.1 million.
The market is estimated to flourish at a 2.8% CAGR through 2033.
The market rose at a 2% CAGR from 2018 to 2022.
Leading industry players are EatWith, VizEat, and BonAppetour.
The market is estimated to reach USD 8,101.9 million in 2033.
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