Peer-to-Peer Dining Market

Peer-to-Peer Dining Market Size (2023-2028):

The Global Peer-to-Peer Dining Market was worth US$ 6234.41 million in 2022 and is anticipated to reach a valuation of US$ 7230.62 billion by 2028 and is predicted to register a CAGR of 2.5% during 2023-2028.

Market Overview:

Peer-to-peer dining, often called social dining or supper clubs, is a friendly and informal way of sharing meals. In this unique dining experience, regular people become hosts, opening their homes to strangers or friends for a special meal. These hosts usually prepare and serve the food themselves, showcasing their cooking skills and culture. Guests can join these meals by booking a seat, and they get to enjoy not only delicious homemade dishes but also the company of new people. Peer-to-peer dining is all about connecting over food, making new friends, and experiencing diverse cuisines in a cosy, homey atmosphere. It's like having a restaurant experience right in someone's home.

Market Drivers:

The peer-to-peer dining market is gaining popularity because it satisfies the craving for genuine and one-of-a-kind food adventures. Travelers and food enthusiasts seek authentic and unique culinary experiences. Peer-to-peer dining allows them to savor homemade dishes and traditional recipes from local hosts, providing a taste of the region's culture. As a result, this culinary exploration is driving the Peer-to-Peer Dining market growth and attracting those who hunger for authentic and unique dining experiences.

Peer-to-peer dining is growing due to its affordability. These dining experiences typically cost less than dining at restaurants, which is a big draw for both travelers and locals seeking budget-friendly dining options. Whether you're a traveller seeking economical yet delightful meals or a local looking for cost-effective dining choices, peer-to-peer dining offers a wallet-friendly option without compromising on taste or quality. Therefore, this affordability factor contributes to the growing popularity of peer-to-peer dining in the market.

Market Restraints:

The peer-to-peer dining market faces significant restraints due to its limited availability, especially in less populated or remote areas. While these dining experiences can be popular in cities and tourist hubs, travelers venturing into more remote regions might struggle to find such unique dining opportunities. This limitation could hinder their ability to explore local cuisine through peer-to-peer dining, and hosts may be scarce in these less-traveled areas. As a result, it impacts the market's accessibility for a broader range of travelers and impedes the peer-to-peer dining market growth.

Market Opportunities:

The peer-to-peer dining market creates significant opportunities due to the Incorporation of mobile apps and advanced technology. User-friendly apps for booking reservations, browsing menus, and leaving reviews can make the process smoother and more accessible. This tech-savvy approach aligns with the preferences of modern consumers and can attract a broader audience of diners, boosting the peer-to-peer dining market demand. This kind of dining not only enhances convenience but also improves transparency and trust, which contributes to the success of these unique culinary adventures.

PEER-TO-PEER DINING MARKET REPORT COVERAGE:

Market Segmentation:

Peer-to-Peer Dining Market - By Dining:

• Casual Home Dining
• Fine Dining
• Themed Dinners
• Food Tours 

Casual Home Dining is leading with the dominant Peer-to-Peer Dining Market shares due to its appeal to travellers and diners seeking authentic, budget-friendly, and socially interactive dining experiences. This dining type offers diverse options, making it the top choice for those looking to savour local culture and cuisine in a welcoming and relaxed atmosphere.

Peer-to-Peer Dining Market - By Booking Channel:

• Direct Bookings 
• Online Travel Agencies (OTAs)
• Other Booking Platforms 

Direct bookings dominate the Peer-to-Peer Dining Market value due to cost efficiency, personalized communication, and transparency. Booking directly with hosts or platforms eliminates extra fees, encourages direct communication for preferences, and offers clarity, boosting diners' confidence and overall experience.

Peer-to-Peer Dining Market - By Age Group:

• Below 15 years
• 16 to 25
• 26 to 35
• 36 to 45
• 46 to 55
• above 55 

The age group 26-35 segment is leading with the largest shares of the peer-to-peer dining market whereas the 36-35 age group segment has been growing at a higher rate for past few years. Increasing the priority to experience unique dining among these age groups is enhancing the market growth rate. 

Market Regional Analysis:

• North America
• Europe
• Asia-pacific
• Middle-east and Africa
• Latin America

North America is dominating the Peer-to-Peer Dining Market share due to its diverse dining culture, tech-savvy population, and high tourist footfall. This region's well-established tourism industry, coupled with a propensity for digital adoption, positions it as a thriving hub for peer-to-peer dining experiences. North America leads the way in shaping the future of this culinary trend. Europe also holds a significant share of the peer-to-peer dining market following North America. With a rich culinary heritage and a focus on local, authentic flavors, Europe attracts both hosts and diners. The Asia-Pacific region, including countries like Thailand, Japan, and India, is experiencing a growing trend in peer-to-peer dining that is likely to propel the growth rate of the market. The popularity of street food and the desire to explore traditional dishes have contributed to its dominance. The Middle East and Africa peer-to-peer dining market is deemed to gain traction over the growth rate at a steady pace in the coming years. Urban hubs like Dubai and Cape Town are witnessing a rise in hosted dining experiences, attracting tourists seeking local flavours and unique encounters. Latin America has a budding peer-to-peer dining scene, particularly in countries like Mexico and Brazil.

Impact of COVID-19 on the Peer-to-Peer Dining Market:

The COVID-19 pandemic had a significant impact on the peer-to-peer dining market. Initially, Social distancing measures and safety concerns led to a decline in bookings and dining experiences. Many hosts had to suspend their offerings due to health restrictions temporarily. However, the market also adapted to the new normal. Some hosts shifted to offering takeout and delivery services to accommodate changing consumer preferences. Enhanced hygiene protocols and safety measures were implemented to reassure diners. As restrictions eased, there was a resurgence in interest in peer-to-peer dining experiences, with people craving unique culinary adventures. The pandemic emphasized the importance of supporting local hosts and enjoying homemade meals in a safe environment. This shift in consumer behaviour may continue to shape the future of the peer-to-peer dining market.

Market Key Players:

1. EatWith
2. VizEat (now called EatWith)
3. Feastly
4. Withlocals
5. BonAppetour
6. TravelingSpoon
7. CozyMeal
8. HomeDine
9. SupperShare
10. Bookalokal

Market Key Developments:

• In 2021, Eatwith expanded its services to various countries, including the United States, Spain, France, Italy, and many more. They offer a wide range of culinary experiences hosted by locals, providing guests with the opportunity to explore diverse cuisines and cultures.
• In 2022, Traveling Spoon hosts offer dining experiences in various settings, including traditional outdoor kitchens, lush gardens, and countryside farmhouses. These settings provide an authentic and unique experience.