The Hungarian Online Food Delivery market has seen significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Hungarian customers have shown a growing interest in the convenience of online food delivery services, especially among younger generations. The ease of use and flexibility of these services have made them a popular choice for busy professionals and students. Additionally, the COVID-19 pandemic has accelerated the adoption of online food delivery services, as more people are staying at home and avoiding crowded places.
Trends in the market: One trend in the Hungarian Online Food Delivery market is the increasing popularity of healthy food options. Many customers are looking for healthy and organic food choices, and online food delivery services are responding to this demand by partnering with local restaurants that offer such options. Another trend is the rise of food delivery apps that offer a wide range of cuisines and price points, making it easier for customers to find the food they want at a price they can afford.
Local special circumstances: Hungary's unique culinary traditions and diverse cuisine have contributed to the growth of the Online Food Delivery market. Hungarian cuisine is known for its hearty, meat-based dishes, but there is also a growing interest in vegan and vegetarian options. The country's capital, Budapest, is also known for its vibrant restaurant scene, with many local and international restaurants offering a variety of cuisines.
Underlying macroeconomic factors: Hungary's strong economic growth and low unemployment rate have contributed to the growth of the Online Food Delivery market. The country's GDP has been steadily increasing in recent years, and its unemployment rate is one of the lowest in the European Union. This has led to a growing middle class with more disposable income, which has in turn fueled the demand for online food delivery services. Additionally, Hungary's favorable business environment and government incentives for startups have attracted many online food delivery companies to the country.
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.
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