The food delivery market in Bangladesh has been growing at a rapid pace in recent years, driven by changing consumer preferences and the increasing popularity of online food ordering platforms.
Customer preferences: Bangladesh has a large and growing young population, many of whom are tech-savvy and prefer the convenience of ordering food online. The increasing number of dual-income households and busy lifestyles have also contributed to the rise in demand for food delivery services. Customers in Bangladesh are also increasingly health-conscious and are looking for healthy food options, which has led to the emergence of several healthy food delivery startups.
Trends in the market: The food delivery market in Bangladesh is dominated by a few major players, but there has been a rise in the number of smaller startups offering niche services such as healthy food delivery and late-night delivery. The market is also becoming increasingly competitive, with players offering discounts, loyalty programs, and other incentives to attract and retain customers. Another trend in the market is the increasing use of technology such as artificial intelligence and machine learning to improve the customer experience and increase efficiency.
Local special circumstances: Bangladesh has a unique food culture, with a variety of regional cuisines and dishes that are popular among locals. Many food delivery platforms in Bangladesh have capitalized on this by offering a wide range of options, including traditional Bangladeshi dishes as well as international cuisine. Another factor that has contributed to the growth of the food delivery market in Bangladesh is the lack of proper infrastructure and traffic congestion in major cities, which makes it difficult for customers to dine out.
Underlying macroeconomic factors: Bangladesh has been experiencing steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. The government has also been implementing policies to promote entrepreneurship and innovation, which has led to the emergence of several food delivery startups. However, the market still faces challenges such as a lack of proper regulation and the high cost of logistics and delivery.
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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