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A recent report ongoing study by Infinium Global Research on the online food delivery market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional online food delivery market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional online food delivery market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the GCC online food delivery market. The value of the market in 2022 was over USD 3 billion and expected to reach more than USD 9 billion in 2028 with a CAGR of approximately 19% during the forecast period.
Online food delivery generally has two components a website and an app that allows customers to view the menu and place an order. When a particular online order is placed hotels or restaurants prepare and delivered the product to the consumer. The food delivery business is turning into one of the most profitable businesses. Several start-ups have started investing in the food business, thinking about the long-term benefits associated with food delivery. The Payment process is also easy and safe. Customers can pay the bill by credit card or debit card through the app or website and also there is an option for cash payment after the delivery and at the time when the customer is going to pick up the order from the restaurant.
Increasing sales of smartphones and rising internet penetration drive the growth of the online food delivery market in GCC. Saudi Arabia ranks third in terms of smartphone penetration, globally, and it is ahead of countries, such as Britain, France, the United States, and Germany. Furthermore, the number of internet users is increasing in GCC. Internet penetration in Saudi Arabia stood at 93% in January 2020. Moreover, E-commerce continues to transform the food & beverages industry in GCC, consumer confidence remains relatively high as online food buying, and mobile e-commerce provides new ways to shop for and buy food and services. However, the high cost of supply chain and logistics is affecting the growth of the market. Moreover, the emergence of digitization and advanced online services provides growth opportunities for the online food delivery market in GCC.
Geographically, Gulf Cooperation Council (GCC) is segmented into Saudi Arabia, Kuwait, Qatar, Sudan, the United Arab Emirates, Oman, and the rest of the GCC. Saudi Arabia is expected to have the highest growth rate of food delivery revenue among all countries in the Middle East. Furthermore, the UAE, Bahrain, Kuwait, and Qatar are experiencing double-digit growth in the online food delivery market. In 2020, the number of mobile connections in Saudi Arabia was over 40.20 million, a significant increase when compared to the value registered in the previous year. In addition, the convenience associated with online food delivery increases the demand for the online food delivery market in GCC. Consumer buying patterns have rapidly shifted to online shopping since physical shopping has an alleged risk and induces fears of being in proximity to others.
| Report Coverage | Details |
|---|---|
| Market Size in 2021 | Over USD 3 Billion |
| Market Size by 2028 | More than USD 9 Billion |
| Growth Rate from 2022 to 2028 | CAGR of Approximately 19% |
| Largest Market | Saudi Arabia |
| No. of Pages | 80 |
| Market Drivers |
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| Market Segmentation | By Service Type, By Channel Type, and By Mode of Transaction |
| Regional Scope | Saudi Arabia, UAE, Kuwait, and Rest of GCC |
The report on GCC online food delivery market covers segments such as service type, channel type, and mode of transaction. On the basis of service type, the sub-markets include restaurant-controlled, independent, food app services, and others. On the basis of channel type, the sub-markets include websites/ desktop, and mobile applications. On the basis of mode of transaction, the sub-markets include cash on delivery, and online.
The report provides profiles of the companies in the market such as Delivery Hero SE, Deliveroo, Careem, Jahez, noon, MRSOOL Inc., Eat Clean, The Chefz, and Lugmety.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the online food delivery market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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