Online Food Delivery - Singapore
- Singapore
- The Online Food Delivery market in Singapore is projected to reach a revenue of €1.34bn in 2023.
- It is expected to experience an annual growth rate (CAGR 2023-2027) of 7.81%, leading to a projected market volume of €1.81bn by 2027.
- In the Grocery Delivery market, a revenue growth of 13.4% is anticipated in 2024.
- The market volume for Grocery Delivery is projected to be €0.75bn in 2023.
- When compared globally, in China is expected to generate the highest revenue, reaching €363,800.00m in 2023.
- The average revenue per user (ARPU) in the Grocery Delivery market is projected to be €0.55k in 2023.
- In the Meal Delivery market, the number of users is expected to reach 3.7m users by 2027.
- The user penetration in the Meal Delivery market is estimated to be at 53.0% in 2023.
- The online food delivery market in Singapore is experiencing a surge in demand due to the convenience and safety it offers amidst the ongoing COVID-19 pandemic.
Key regions: India, United States, Asia, China, Europe
Analyst Opinion
The Online Food Delivery Market is a combination of Grocery Delivery and Meal Delivery. The market gained a great deal of traction from the COVID-19 Pandemic. The growth can be seen in almost every market. Now that food aggregators like Just Eat Takeaway and Delivery Hero have established themselves, they are now venturing into the Grocery Delivery space. While acquisitions are nothing new in the Meal Delivery space, these aggregators are taking big risks as Quick Commerce has yet to prove profitable.
Although the market saw two years of unprecedented growth, 2022 is looking to slow that down with uncertain macroeconomic conditions and consumers looking to save money. Consolidation of the key players will likely happen which will further expand the gray area between Grocery and Meal Delivery.
China and the US lead in terms of Gross Merchandising Value (GMV). Chinese companies are well-established and the market is mature. U.S. consumers enjoy discretionary spending and that does not look to be slowing down anytime soon.
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.Vue d’ensemble
- Revenue
- Demographics
- Analyst Opinion
- Users
- Global Comparison
- Methodology
- Key Market Indicators