Online Food Delivery - Azerbaijan

Azerbaijan

The Online Food Delivery market in Azerbaijan is projected to reach a revenue of US$287.10m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2028) of 15.97%, resulting in a projected market volume of US$519.30m by 2028.
In the Grocery Delivery market, a revenue growth of 25.4% is expected in 2025.
The market volume is projected to be US$272.30m in 2024.
When compared globally, in China is anticipated to generate the highest revenue, amounting to US$448.90bn in 2024.
The average revenue per user (ARPU) in the Grocery Delivery market is projected to be US$241.00 in 2024.
In the Grocery Delivery market, the number of users is expected to reach 1.4m users by 2028.
User penetration in the Grocery Delivery market will be at 10.8% in 2024.
Online food delivery in Azerbaijan is experiencing rapid growth, fueled by the increasing popularity of local cuisine and the convenience of ordering meals from the comfort of one's home.

Key regions: India, United States, Asia, China, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Online Food Delivery Market is a combination of Grocery Delivery and Meal Delivery. The market gained a great deal of traction from the COVID-19 Pandemic. The growth can be seen in almost every market. Now that food aggregators like Just Eat Takeaway and Delivery Hero have established themselves, they are now venturing into the Grocery Delivery space. While acquisitions are nothing new in the Meal Delivery space, these aggregators are taking big risks as Quick Commerce has yet to prove profitable.

Although the market saw two years of unprecedented growth, 2022 is looking to slow that down with uncertain macroeconomic conditions and consumers looking to save money. Consolidation of the key players will likely happen which will further expand the gray area between Grocery and Meal Delivery.

China and the US lead in terms of Gross Merchandising Value (GMV). Chinese companies are well-established and the market is mature. U.S. consumers enjoy discretionary spending and that does not look to be slowing down anytime soon.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.