According to Cowen's food delivery survey of 2,500 consumers, there's still a lack of options for Mexican, chicken wings, and hamburger cuisines.
, and DoorDash, consumers aren't forgoing pizza as much as one would think, according to a report from Cowen. That's a positive for chains like Domino's that have found their delivery businesses threatened by new upstart services.in the US, which it attributed to mounting competition. It's part of a long-running battle the company has forged against services like UberEats and GrubHub — one it's waged by speeding up delivery times and opening new stores.
"We argue restaurant delivery continues to be a secular growth theme and while established pizza delivery is in a more mature state of growth, we don't foresee a watershed moment on the horizon for pizza delivery that investors may be fearing," the firm said in the report. Cowen forecasts the restaurant delivery space will grow by 3.5% per year from $561 billion in 2018 to $666 billion in 2023. Of the survey respondents, 37% said they used Grubhub, while 25% said they used UberEats, and 19% ordered on DoorDash.
Uber has already made it clear that UberEats is going to be an important avenue to help the company achieve profitability. The ride-hailing company has also, a food-delivery startup with plans for a 2019 IPO.
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