Online Food Delivery - Mongolia

Mongolia

In 2024, the projected revenue in the Online Food Delivery market for Mongolia is expected to reach US$96.28m.
Furthermore, the revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2028) of 19.81%, resulting in a projected market volume of US$198.40m by 2028.
Regarding the Grocery Delivery market, it is predicted to experience a revenue growth of 32.5% in 2025.
Additionally, the projected market volume for Mongolia in 2024 is estimated to be US$94.22m.
In comparison to other countries, in China is expected to generate the highest revenue in 2024, reaching US$448.90bn.
Moving on to the average revenue per user (ARPU) in the Grocery Delivery market, the projection for Mongolia in 2024 stands at US$181.30.
In the Grocery Delivery market, the number of users is expected to reach 732.5k users by 2028.
Furthermore, the user penetration rate in the Grocery Delivery market for Mongolia is projected to be at 15.0% in 2024.
Despite its remote location and nomadic culture, Mongolia has seen a steady rise in online food delivery services, catering to the growing demand for convenience and variety among its urban population.

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

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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.