Vietnam’s rapidly growing food delivery market. Also introduces five applications that are driving the market!
Vietnam’s food delivery market has experienced rapid growth in recent years, with a market size of US$15 billion in 2022 and is projected to reach US$30 billion by 2027. This growth is being driven by several factors, including a growing middle class, increasing urbanization, and the widespread use of the Internet.
目次
1. overview of the vietnamese food delivery market
Vietnam’s food delivery market has experienced rapid growth in recent years, with a market size of US$15 billion in 2022 and is projected to reach US$30 billion by 2027. This growth is being driven by several factors, including the expansion of the middle class, increasing urbanization, and the widespread use of the Internet.
2. Market Driving Factors
- Expanding middle class: Vietnam’s middle class is growing rapidly and is projected to reach 100 million by 2027. This middle class is expected to drive the growth of the food delivery market due to their willingness to spend on dining out and fine foods.
- Increasing urbanization: Vietnam’s urbanization rate has been rising rapidly in recent years and is projected to reach 60% by 2027. In urban areas, people are too busy to cook at home, which is expected to drive the growth of the food delivery market.
- Internet penetration: The number of Internet users in Vietnam has been growing rapidly in recent years and is projected to reach 100 million by 2027. Internet penetration is expected to drive the growth of the food delivery market by making it easier for people to find and order food delivery services.
3. Market Restraints
- Food safety concerns: Food safety concerns are on the rise in Vietnam, which may restrain the growth of the food delivery market.
- Rising prices: Food delivery services are at a high price point, which may be a barrier for some consumers.
- Increased competition: The food delivery market in Vietnam is highly competitive, which may restrain market growth.
4. market opportunities
- Growth of online ordering: Online ordering is a growing segment in the Vietnamese food delivery market and is projected to account for 30% of the market by 2027.
- Rise of fast casual: Fast casual is a growing segment in the Vietnamese food delivery market and is projected to account for 20% of the market by 2027.
- Demand for healthy food: Demand for healthy food is a growing segment in the Vietnamese food delivery market and is projected to account for 10% of the market by 2027.
5. key applications of vietnam food delivery
The key players in the Vietnam food delivery market are
- GrabFood
- GoFood
- Baemin
- Now
- Loship
6. Conclusion
Vietnam’s food delivery market is expected to grow rapidly in the coming years. This growth is being driven by several factors, including a growing middle class, increasing urbanization, and the widespread use of the Internet. However, there are also several restraining factors, including food safety concerns, rising prices, and increased competition. There are also several opportunities in the market, such as the growth of online ordering, the rise of fast casual, and the demand for healthy food.
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