The latest report by IMARC Group, titled “Nigeria Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,“ finds that the Nigeria online food delivery market is expected to grow at a CAGR of
12.2% during 2023-2028. Online food delivery is a convenient procedure of ordering and delivering food through various websites or applications. It provides access to multiple or single food joints according to the preferences of the user. It also offers various payment options, such as cash on delivery (COD), net banking, e-wallet, food coupons, and prepaid cards, and a fast checkout process. Presently, online food delivery is gaining momentum across Nigeria due to the increasing penetration of the internet and the increasing sales of smartphones.
Nigeria Online Food Delivery Market Trends:
In Nigeria, the hectic work schedules and sedentary lifestyles of the masses have led to a considerable rise in the demand for ready-to-eat (RTE) food products. This represents the primary factor encouraging individuals to opt for online food delivery options. Additionally, it offers various advantages, such as fast and easy ordering, secured payment getaways, and numerous cashback offers. As a result, consumers are becoming more inclined toward online food delivery across the country. Besides this, the growing integration of advanced technologies, including artificial intelligence (AI), Big Data, the Internet of Things (IoT), and predictive analytics with online food delivery platforms, is providing a personalized consumer experience. Furthermore, the recent coronavirus disease (COVID-19) outbreak has led to a significant shift from traditional food joints to online delivery services to reduce the risk of spreading the disease. These factors are expected to create a positive market outlook in the coming years.
- Based on the platform type, the market has been classified into mobile applications and websites.
- On the basis of the business model, the market has been categorized into order-focused, logistics-based, and full-service food delivery systems.
- Based on the payment mode, the market has been bifurcated into online and cash-on-delivery.
- On the basis of the end user, the market has been segregated into individual and corporate.
- Region-wise, the market has been divided into North West, South West, North Central, and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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