The Malaysian Online Food Delivery market has been experiencing significant growth in the past few years.
Customer preferences: One of the main reasons for this growth is the increasing number of Malaysians who are opting for the convenience of ordering food online. With the rise of e-commerce and the increasing penetration of smartphones, Malaysians are becoming more comfortable with using online platforms to order food. Additionally, the younger generation, who are more tech-savvy, are driving this trend.
Trends in the market: Another trend in the market is the increasing popularity of food delivery platforms that offer a wide range of cuisines. Malaysians are known for their love of food, and the availability of different types of cuisine on these platforms is a major draw for customers. There has also been a rise in the number of online food delivery platforms that offer healthy food options, catering to the increasing demand for healthier food choices.
Local special circumstances: The Malaysian market is unique in that it has a diverse population with different cultural and religious practices. This has resulted in the emergence of online food delivery platforms that cater to specific dietary requirements, such as halal food. Additionally, Malaysians have a strong food culture, and there is a growing trend of ordering food online for special occasions such as birthdays and weddings.
Underlying macroeconomic factors: The Malaysian economy has been growing steadily, and this has led to an increase in disposable income for Malaysians. This has resulted in a higher propensity to spend on convenience and luxury items such as food delivery. Additionally, the COVID-19 pandemic has further accelerated the growth of the online food delivery market, as Malaysians are staying home more and avoiding crowded places such as restaurants.In conclusion, the Malaysian Online Food Delivery market is experiencing significant growth due to the convenience it offers, the availability of different cuisines, and the increasing disposable income of Malaysians. The market is also unique in that it caters to specific dietary requirements and cultural practices. The COVID-19 pandemic has further accelerated the growth of the market, and it is expected to continue to grow in the coming years.
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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