Meal Delivery - Iceland | Statista Market Forecast

The Meal Delivery market in Iceland is projected to reach a revenue of ISK US$9.12m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 2.75%, resulting in a projected market volume of ISK US$10.44m by 2029.
In comparison to other countries, China is expected to generate the highest revenue in the global market, amounting to ISK US$184.50bn in 2024.
The average revenue per user (ARPU) in the Meal Delivery market is projected to be ISK US$147.10 in 2024.
By 2029, the number of users is expected to reach 69.1k users.
The user penetration rate in the Meal Delivery market is projected to be 16.4% in 2024.
Iceland's meal delivery market is booming, with a focus on sustainable and locally sourced ingredients to cater to the country's environmentally conscious population.

Definition:

Meal Delivery is the online ordering and delivery of prepared meals by a restaurant or a platform for direct consumption. Orders are typically placed in an app or on a website. The delivery is handled by the platform enterprise (e.g. Deliveroo) or directly by the restaurant (e.g. Domino’s).

Structure:

Meal Delivery contains the user and revenue development of two different delivery service solutions for prepared meals: (1) Restaurant Delivery and (2) Platform Delivery. The Restaurant Delivery market includes the delivery of meals carried out directly by the restaurants. The order may be made via platforms (e.g. Delivery Hero, Just Eat) or directly through a restaurant website (e.g. Domino's). The Platform Delivery market focuses on online delivery services that provide customers with meals from partner restaurants that do not necessarily have to offer food delivery themselves. In this case, the platform (e.g. Deliveroo) handles the delivery process.).

Additional Information:

Revenue includes the gross merchandise value (GMV), defined as the total sales dollar value for merchandise/food sold through the Online Food Delivery marketplace. User and revenue figures represent B2C services.

Meals ordered online which are directly delivered by the restaurant, no matter if ordered via a platform (e.g. Delivery Hero) or a restaurant website (e.g. Domino's)
Online meal order and delivery both carried out by a platform (e.g. Deliveroo)
Online orders that are picked up in the restaurant

Phone orders
Deliveries of non-processed or non-prepared food (e.g. HelloFresh)

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.

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