The Nordic region, comprising Denmark, Finland, Norway, and Sweden, has seen a significant growth in the Online Food Delivery market in recent years.
Customer preferences: Customers in the Nordic region have increasingly adopted the convenience of online food delivery services, with busy lifestyles and a desire for convenience being key drivers of this trend. Additionally, the region's harsh winters and long distances have made food delivery an attractive option for many residents.
Trends in the market: The Online Food Delivery market in Denmark has seen a significant increase in the number of players, with both local and international companies entering the market. The market in Finland has also seen a surge in demand, particularly in urban areas, with many companies expanding their coverage to smaller towns. In Norway, the market has been dominated by a few major players, with increased competition leading to lower prices and greater choice for customers. In Sweden, the market has seen significant consolidation, with a few major players dominating the market. However, there has been a recent trend towards more niche and specialized food delivery services, catering to specific dietary requirements and preferences.
Local special circumstances: The Nordic region has a strong food culture, with a focus on quality and sustainability. This has led to a demand for food delivery services that offer locally-sourced and organic ingredients. Additionally, the region has a high level of smartphone penetration, with many customers preferring to use mobile apps to order food.
Underlying macroeconomic factors: The Nordic region has a high standard of living, with relatively high disposable incomes and a strong social welfare system. This has made the region an attractive market for international players looking to expand their operations. Additionally, the region has a strong tech industry, with many startups and established companies developing innovative solutions for the food 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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