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Vietnam, a country known for its rich culture and cuisine, has seen a significant growth in the online food delivery market in recent years.
Customer preferences: Vietnamese consumers are increasingly turning to online food delivery services due to the convenience it offers. With busy work schedules and traffic congestion in major cities, ordering food online has become a popular choice for many. Moreover, the younger generation in Vietnam is more tech-savvy and prefers to use mobile applications to order food.
Trends in the market: The online food delivery market in Vietnam has witnessed a surge in the number of players in recent years. Both local and international players are vying for a share of the market. The market is highly competitive, with players offering various discounts and promotions to attract customers. Furthermore, the market has seen a shift towards healthier food options. Many players are now offering healthier food choices, catering to the increasing demand for healthy food among Vietnamese consumers.
Local special circumstances: Vietnam's food culture is diverse, with each region having its own unique cuisine. This has led to the emergence of many local players in the online food delivery market. These local players offer a variety of regional cuisines, catering to the local taste buds. Moreover, Vietnamese consumers are highly price-sensitive, and the players that offer affordable and value-for-money options are more likely to succeed in the market.
Underlying macroeconomic factors: Vietnam's economy has been growing steadily over the years, with rising incomes and a growing middle class. This has led to an increase in disposable incomes, which has in turn led to an increase in spending on food. Furthermore, the government's efforts to improve the country's infrastructure, including the development of highways and expressways, has led to an increase in the number of online food delivery players operating in the market. The growing popularity of online food delivery services has also led to the creation of many jobs in the country.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)