IMARC Group's latest report, titled "Vietnam Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the Vietnam online food delivery market size reached US$ 727.9 Million in 2022. Online food delivery is the process of placing an order for food from a restaurant or food cooperative via a mobile app or website. These applications and websites cater to the needs of the users by offering filters and different payment options, including cash on delivery, debit/credit cards, net banking, and others. In addition, numerous companies enable customers to create an account for convenient and frequent ordering. Since it offers various advantages, such as easy and quick ordering, less hassle, fewer misunderstandings and miscommunications, minimal to no human interaction, and cashback offers, online food delivery is gaining immense traction in Vietnam, especially among the younger population.
Vietnam Online Food Delivery Market Trends:
In Vietnam, rapid urbanization and easy accessibility and convenience of online food delivery represent the primary factors driving the market growth. Moreover, customers can order food quickly and with enhanced transparency through online websites and apps. In line with this, there has been a surging adoption of online food delivery modes, as it enables consumers to compare the menus and prices of various restaurants and order food according to their tastes and preferences at a better price, is positively influencing the market growth. Additionally, the widespread availability of a wide range of food options on food delivery websites and apps, including Vietnamese cuisines, western cuisines, and South Asian cuisines, catering to the unique food preferences of different consumers across the country has catalyzed market growth. Apart from this, the online food delivery system provides a complete customer database that helps identify recurring customers, their preferences, and repeated orders. In addition, the rising efficiency of restaurants due to online orders as they make day-to-day operations more efficient and eliminate the need for employees to receive orders manually via telephones, enabling them to focus more on dine-in customers, has catalyzed the market growth. Other factors, including the emerging food service industry, improving restaurant productivity, inflating consumer disposable incomes, and changing lifestyles, are also anticipated to provide a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,807.7 Million by 2028, expanding at a CAGR of 15.61% during 2023-2028.
- Based on the order method, the market has been bifurcated into mobile application and website. Currently, mobile apps dominate the market.
- On the basis of the cuisine, the market has been segregated into Vietnamese, western, Italian, South Asian, and other cuisines. Amongst these, Vietnamese cuisine represents the largest market segment.
- Region-wise, Southern Vietnam holds the leading position in the market, followed by Northern and Central Vietnam.
- The competitive landscape of the market has also been examined, with some of the key players being Vietnammm.com (Takeaway.Com N.V.), Foody.vn, Now.vn, Eat.vn, and Grab Food.
|Base Year of the Analysis
||Order Method, Cuisine, Region
||Southern Vietnam, Northern Vietnam, Central Vietnam
||Vietnammm.com (Takeaway.Com N.V.), Eat.vn, Foody.vn, Now.vn and Grab Food
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