Online Food Delivery - Bulgaria

Bulgaria

The Online Food Delivery market in Bulgaria is projected to reach a revenue of US$319.20m in 2024.
This represents a significant growth potential for the country.
Furthermore, the market is expected to continue expanding at a compound annual growth rate (CAGR 2024-2029) of 10.18%, resulting in a projected market volume of US$518.20m by 2029.
This growth indicates a promising future for the Online Food Delivery market in Bulgaria.
Moving on to the Meal Delivery market, it is anticipated to experience a revenue growth of 15.2% in 2025.
With a projected market volume of US$245.90m in 2024, this market holds immense potential and opportunities for the country.
It is worth noting that this market's revenue growth is expected to contribute significantly to the overall revenue generated in Bulgaria.
In a global context, China is projected to generate the highest revenue in the Online Food Delivery market, amounting to US$450.50bn in 2024.
This highlights the dominance of the Chinese market and the substantial revenue it generates compared to other countries.
Shifting our focus to the average revenue per user (ARPU) in the Meal Delivery market, it is projected to amount to US$193.90 in 2024.
This metric provides valuable insights into the financial performance of the market and indicates the potential profitability for businesses operating in this market in Bulgaria.
In the Meal Delivery market, the number of users is expected to reach 2.3m users by 2029.
This represents a significant user base and indicates the popularity and demand for meal delivery services in Bulgaria.
Moreover, the user penetration rate in the Meal Delivery market is projected to be at 25.9% in 2024, showcasing the market's high level of user adoption and engagement.
Overall, the Online Food Delivery market in Bulgaria is poised for growth and presents lucrative opportunities for businesses operating in this sector.
The projected revenue figures, growth rates, and market volumes demonstrate the potential for success in this market.
The online food delivery market in Bulgaria is experiencing rapid growth, fueled by a strong demand for convenience and a wide variety of cuisine options.

Market

Region

Region comparison

Currency

Analyst Opinion

The Online Food Delivery market in Bulgaria has experienced significant growth in recent years, with a number of factors contributing to this trend.

Customer preferences: Bulgarian consumers have increasingly turned to online food delivery services due to their convenience and time-saving benefits. Busy work schedules and the desire for a wider variety of food options have also driven demand for these services. Additionally, the COVID-19 pandemic has accelerated the adoption of online food delivery as more people stay at home and avoid going out to eat.

Trends in the market: One trend in the Bulgarian online food delivery market is the increasing popularity of mobile apps. Many consumers prefer to use mobile apps to order food, as they offer a more seamless and user-friendly experience compared to traditional websites. Another trend is the emergence of new players in the market, both domestic and international, which has led to increased competition and innovation.

Local special circumstances: Bulgaria has a rich culinary tradition, with a variety of regional and national dishes that are popular among locals and tourists alike. This has led to a diverse range of food options available for delivery, including traditional Bulgarian cuisine as well as international dishes. Additionally, the country's relatively low cost of living has made it an attractive market for online food delivery companies looking to expand their operations.

Underlying macroeconomic factors: Bulgaria's economy has been growing steadily in recent years, with a focus on industries such as technology and tourism. This has created a favorable environment for online food delivery companies, as consumers have more disposable income to spend on food delivery services. Additionally, the country's relatively low labor costs have made it an attractive location for companies looking to establish a presence in the region.

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.