The popularity of online food delivery services has been on the rise in the Nordics in recent years. This trend has been driven by several factors, including changing customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in the Nordics have become increasingly interested in convenience and efficiency when it comes to ordering food. Online food delivery services offer a quick and easy way to order food from a variety of restaurants, without having to leave the comfort of home. Additionally, customers are becoming more health-conscious and are looking for healthier food options, which many online delivery services offer.
Trends in the market: The online food delivery market in the Nordics has seen significant growth in recent years. This growth has been driven by the expansion of existing services and the entry of new players into the market. Many of these services offer a wide variety of food options from both local and international restaurants, catering to a diverse range of tastes and preferences.
Local special circumstances: The Nordics have a unique food culture, with a strong emphasis on fresh, locally-sourced ingredients and traditional cooking methods. Many online food delivery services have adapted to this local culture by partnering with local restaurants and sourcing ingredients from local suppliers. Additionally, the region's harsh winter weather can make it difficult for customers to leave their homes to dine out, making online delivery services an attractive option.
Underlying macroeconomic factors: The Nordics have a strong economy and high levels of disposable income, which has contributed to the growth of the online food delivery market. Additionally, the region has a high level of digital connectivity and a tech-savvy population, making it an ideal market for online delivery services. Finally, the COVID-19 pandemic has accelerated the growth of the online food delivery market, as more customers are looking for safe and convenient ways to order food.
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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