Vietnam Online Food Delivery Market Report and Forecast 2024-2032

Vietnam Online Food Delivery Market Outlook

The Vietnam online food delivery market size is expected to grow at a CAGR of about 24% in the forecast period of 2024-2032.

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The food delivery service in Vietnam is rising rapidly and creating numerous possibilities for the online food delivery market in the country. In addition, in the last decade, many technical advancements have been taking place in Vietnam's food delivery market to help identify repeat customers and recommend new food products based on previous orders. The lifestyles of consumers have rapidly changed due to rising urbanisation and busy work schedules, which have compelled them to choose convenient food options. These are among the factors that are increasing the Vietnam online food delivery market growth. In addition, the existence of a robust population of millennial consumers in the country is further anticipated to boost the market expansion.

Properties and Applications

Online food delivery refers to the concept of ordering food by means of a mobile application or webpage from a restaurant, which offers filters and different payment methods depending on customer needs, including cash on delivery, debit/credit cards, net banking, and others. The online service allows customers to order food in the best possible way and with convenient access. They can also compare the prices and menus of multiple restaurants. Such websites and apps offer a wide variety of food choices, based on customer tastes, like Vietnamese cuisines, Western cuisines, and South Asian cuisines, among others.

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On the basis of order mode, the industry is categorised into:

• Online
• Offline

Based on online order method, the industry can be segmented as follows:

• Mobile Application
• Website

On the basis of cuisine, the market can be divided into the following:

• Vietnamese Cuisine
• Western Cuisine
• Italian Cuisine
• South Asian Cuisine
• Others

The regional markets for the service in Vietnam include Southern, Northern, and Central Vietnam.

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Market Analysis

Improved restaurant productivity is a major driver for the growth of the Vietnam online food supply market. Online orders make a restaurant's daily operations more efficient. The time consumed in workers taking orders over the phone is minimized as well as the emphasis on dining customers is increased. In addition, the probability of human error due to miscommunication is minimized. The convenience as well as the easy accessibility of the industry acts as a major driving force for the development of the market.

With the rise of digital technologies, the country's food supply industry is being reformulated. Online food ordering provides consumers with convenience, as well as a greater degree of transparency. Consumers are free to compare the menus as well as prices of various restaurants through various online food delivery modes. This helps them to order food at a better price than the traditional method of ordering as per their taste and preference and available menus. A thorough database of consumers could be generated via the online ordering and delivery system to identify regular customers, their preferences as well as repeat orders. In the previous methods of ordering food, several issues included time limitations, human errors, and other discrepancies owing to which restaurants often had to cancel or abandon their orders. However, these difficulties can be addressed with the online food delivery options, which create a smoother flow of orders and offer an easily accessible customer redressal portal. These factors are together propelling the growth of the market in Vietnam.

Competitive Landscape

The report gives a detailed analysis of the following key players in the Vietnam online food delivery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Vietnam MM Co., Ltd 
• Foody Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report