Vietnam's food delivery market has been growing at a rapid pace in recent years, driven by the increasing popularity of online food ordering and delivery services.
Customer preferences: Vietnamese consumers have shown a growing preference for convenience and time-saving services, which has led to a surge in demand for food delivery services. The rise of the middle class and the increasing penetration of smartphones and internet connectivity have also contributed to the growth of the food delivery market in Vietnam.
Trends in the market: The food delivery market in Vietnam is becoming increasingly competitive, with both domestic and international players vying for market share. Companies are offering a range of services, including on-demand delivery, subscription-based meal plans, and online ordering platforms. The use of technology, such as mobile apps and artificial intelligence, is also becoming more prevalent in the food delivery market in Vietnam.
Local special circumstances: Vietnam's food culture is diverse and rich, with a wide range of traditional and regional cuisines. This has led to the emergence of specialized food delivery services that cater to specific cuisines or dietary preferences. Additionally, Vietnam's urbanization and traffic congestion issues have made food delivery a popular option for consumers who want to avoid the hassle of going out to eat.
Underlying macroeconomic factors: Vietnam's economy has been growing steadily in recent years, with a focus on manufacturing and services. This has led to an increase in disposable income and consumer spending, which has in turn fueled the growth of the food delivery market. The government's efforts to promote e-commerce and digitalization have also contributed to the growth of the food delivery market in Vietnam.
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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