Vietnam Online Food Delivery Market Outlook
According to the report by Expert Market Research (EMR), the Vietnam online food delivery market is projected to grow at a CAGR of 24% between 2024 and 2032. Aided by the increasing internet penetration, the proliferation of smartphones, and rising urbanisation, the market is expected to grow significantly by 2032.
The Vietnamese online food delivery market has been experiencing a surge, mainly due to the changing lifestyle patterns and the convenience of ordering food online. With a large and growing young population who are tech-savvy and have a high smartphone usage rate, the adoption of online food delivery services has seen a significant uptick. Moreover, the rapid urbanisation in Vietnam has led to a busy lifestyle, making the quick and easy option of ordering food online increasingly appealing.
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One of the key drivers of the Vietnam online food delivery market growth is the integration of advanced technologies by online food delivery platforms. These platforms are utilising AI and data analytics to personalise the user experience and improve operational efficiency. This technological integration not only enhances customer satisfaction but also streamlines the ordering and delivery process.
The market is also benefiting from the growing partnership between online food delivery platforms and restaurants. As per the Vietnam online food delivery market analysis, these collaborations are enabling restaurants to expand their reach and cater to a wider customer base. Additionally, it allows them to tap into the digital space, which is essential in the current market scenario where digital presence plays a crucial role in business growth.
Another significant factor contributing to the growth of the market is the rising disposable income of the Vietnamese population. This economic upliftment has led to an increased propensity to spend on convenience services like online food delivery, further propelling the Vietnam online food delivery market demand.
Geographically, the market is primarily concentrated in urban areas like Ho Chi Minh City and Hanoi, where the majority of online food delivery services are available. However, there is a growing trend of these services expanding to smaller cities and towns, driven by the increasing internet penetration across the country, further boosting the Vietnam online food delivery market size.
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Vietnam Online Food Delivery Market Segmentation
The market can be divided based on order mode, online order method, cuisine, and region.
Market Breakup by Order Mode
- Online
- Offline
Market Breakup by Online Order Method
- Mobile Application
- Website
Market Breakup by Cuisine
- Vietnamese Cuisine
- Western Cuisine
- Italian Cuisine
- South Asian Cuisine
- Others
Market Breakup by Region
- Southern
- Northern
- Central
Vietnam Online Food Delivery Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Vietnam online food delivery market. Some of the major players explored in the report by Expert Market Research are as follows:
- Vietnam MM Co., Ltd
- Foody Corporation
- Others
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