Dublin, Dec. 13, 2024 (GLOBE NEWSWIRE) -- The "Vietnam Online Food Delivery Market by Order Method, Cuisine, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Vietnam online food delivery market size reached US$ 847.1 million in 2023. Looking forward, the market is projected to reach US$ 2.91 billion by 2032, exhibiting a growth rate (CAGR) of 14.7% during 2023-2032.The Vietnam online food delivery industry is concentrated in nature with the presence of a handful of players. Some of the leading players operating in the market are:
- Vietnammm.com (Takeaway.Com N.V.)
- Eat.vn
- Foody.vn
- Now.vn
- Grab Food
This report provides a deep insight into the Vietnam online food delivery market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
A major factor catalysing the growth of the online food delivery market in Vietnam is its convenience and easy accessibility. With a growth in digital technology, the food delivery market in the country is being reshaped. Food ordered through online websites and apps provide customers convenience and a greater level of transparency. Through various online food delivery modes, consumers can compare the menus and prices of various restaurants. This enables them to order food according to their taste and preference at a better price than the conventional method of food ordering.
Various food delivery applications and websites in Vietnam are offering numerous food options to their consumers. This include Vietnamese Cuisines, Western Cuisines, and South Asian Cuisines among others. Availability of such a wide range of food options caters to the food preferences of different consumers, thereby driving the overall demand of online food delivery services in the country.
Enhanced efficiency of restaurants is another major driver of the online food delivery market in Vietnam. The online orders make the day to day operations more efficient for a restaurant. The time employees use to receive orders through the telephone is reduced and this increases the time employees have to focus on dine-in customers. Moreover, the chances of human errors due to miscommunication are also reduced when an order is made.
Through online ordering and delivery system, a complete database of the customers can be created which helps in identifying recurring customers, their preferences and repeated orders. The previous ways of ordering food included many problems such as time constraints, different accents of people, disturbance over a phone call, etc. due to which restaurants are compelled to cancel or abandon the order. However, with the online food delivery options available, these challenges can be overcome.
As a restaurant or a franchise of a food product are hesitant to launch their mobile application as it may incur additional cost for development, installation, maintenance, and marketing of the applications, they prefer to collaborate with various food delivery companies.
Retailers have also been drawn to the country's relatively young consumer population. The 15 to 64 age group accounts for the majority of the overall population of Vietnam and are a key demographic to spur the growth in the online food delivery market.
Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the Vietnam online food delivery market report, along with forecasts at the country and regional level from 2024-2032. The report has categorized the market based on order method and cuisine.
Breakup by Order Method:
- Mobile Application
- Website
Amongst these, mobile app represents the largest segment as it is faster than websites and provides numerous advantages such as easy user interface and saved customer profiles.
Breakup by Cuisine:
- Vietnamese Cuisine
- Western Cuisine
- Italian Cuisine
- South Asian Cuisine
- Others
Based on cuisine, the Vietnamese cuisine is the most popular segment.
Regional Insights:
- Southern Vietnam
- Northern Vietnam
- Central Vietnam
On a geographical front, Southern Vietnam represents the biggest market. Other major regions include Northern Vietnam and Central Vietnam.
Key Questions Answered in This Report:
1. What was the size of the Vietnam online food delivery market in 2023?
2. What is the expected growth rate of the Vietnam online food delivery market during 2024-2032?
3. What are the key factors driving the Vietnam online food delivery market?
4. What has been the impact of COVID-19 on the Vietnam online food delivery market?
5. What is the breakup of the Vietnam online food delivery market based on the order method?
6. What is the breakup of the Vietnam online food delivery market based on the cuisine?
7. What are the key regions in the Vietnam online food delivery market?
8. Who are the key players/companies in the Vietnam online food delivery market?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 118 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $847.1 Million |
| Forecasted Market Value (USD) by 2032 | $2.91 Billion |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | Vietnam |
For more information about this report visit https://www.researchandmarkets.com/r/tqgl0l
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