Thailand is a country known for its vibrant street food culture, which has also influenced the food delivery market in the country.
Customer preferences: Customers in Thailand are increasingly turning to food delivery platforms to order meals, with a preference for convenience and speed. The rise of e-commerce platforms has made it easier for customers to access a wide range of food options from various restaurants, without having to leave their homes or offices. Additionally, the COVID-19 pandemic has accelerated the adoption of food delivery services as customers prioritize safety and hygiene.
Trends in the market: The food delivery market in Thailand has seen significant growth in recent years, with both local and international players competing for market share. The market is expected to continue to grow as more customers shift towards online food ordering and delivery. In response to this trend, delivery platforms are expanding their services to include other products besides food, such as groceries and household items. Furthermore, there is a growing demand for healthy food options, which has led to the emergence of specialized platforms offering organic and plant-based meals.
Local special circumstances: Thailand has a unique food culture that has contributed to the growth of the food delivery market. Street food is an integral part of Thai cuisine, and many local vendors have partnered with delivery platforms to reach a wider audience. Additionally, the country has a large population of young urban professionals who are increasingly relying on food delivery services due to their busy lifestyles. However, there are also challenges in the market, such as the high cost of delivery and the need to balance the interests of restaurants and customers.
Underlying macroeconomic factors: Thailand's economy has been growing steadily in recent years, with a strong focus on tourism and exports. This has led to an increase in disposable income and a growing middle class, which has contributed to the growth of the food delivery market. Additionally, the government has implemented policies to support the digital economy, which has created an enabling environment for e-commerce and delivery platforms. However, the COVID-19 pandemic has had a significant impact on the economy, and the long-term effects of the crisis on the food delivery market remain to be seen.
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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