Iceland, a small island country in the North Atlantic, is known for its stunning natural beauty, geothermal pools, and unique cuisine. In recent years, the Meal Delivery market in Iceland has seen significant growth, driven by changing consumer preferences, technological advancements, and local special circumstances.
Customer preferences: Icelandic consumers are increasingly seeking convenience and variety in their meal options, leading to a rise in demand for Meal Delivery services. Additionally, there is a growing awareness of the importance of healthy eating, with many consumers looking for options that cater to specific dietary requirements.
Trends in the market: The Meal Delivery market in Iceland is dominated by a few key players, with a focus on delivering high-quality, locally-sourced ingredients. Many providers offer a range of options, including vegetarian and vegan meals, as well as options for those with food allergies or intolerances. In recent years, there has also been a trend towards more sustainable packaging and delivery methods, with many providers offering eco-friendly options.
Local special circumstances: Iceland's unique geography and climate present some challenges for the Meal Delivery market. The country's harsh winters and remote location can make it difficult to source fresh ingredients year-round, leading to a reliance on imported goods. However, this has also led to a focus on locally-sourced and sustainable ingredients, with many providers working with local farmers and producers to ensure the highest quality products.
Underlying macroeconomic factors: Iceland's strong economy and high standard of living have contributed to the growth of the Meal Delivery market. The country has a high level of disposable income, with many consumers willing to pay a premium for high-quality, convenient meal options. Additionally, the rise of digital technology has made it easier than ever for consumers to order and receive meals, driving growth in the Meal Delivery market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
