US$ 1,807.7 Million, Vietnam Online Food Delivery Market Size Rise at +15.61% CAGR by 2028

According to the latest report by IMARC Group, titled "Vietnam Online Food Delivery Market: Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028", The Vietnam online food delivery market size reached US$ 727.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,807.7 Million by 2028, exhibiting a growth rate (CAGR) of 15.61% during 2023-2028.

Online food delivery is the process of placing an order for food from a restaurant or food cooperative via a mobile app or website. These applications and websites cater to the needs of the users by offering filters and different payment options, including cash on delivery, debit/credit cards, net banking, and others. In addition, numerous companies enable customers to create an account for convenient and frequent ordering. Since it offers various advantages, such as easy and quick ordering, less hassle, fewer misunderstandings and miscommunications, minimal to no human interaction, and cashback offers, online food delivery is gaining immense traction in Vietnam, especially among the younger population.

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The competitive landscape of the market has also been examined with some of the key players being:

• Vietnammm
• Eat.vn
• Foody.vn
• Now.vn
• Grab Food

Vietnam Online Food Delivery Market Trends:

In Vietnam, rapid urbanization and easy accessibility and convenience of online food delivery represent the primary factors driving the market growth. Moreover, customers can order food quickly and with enhanced transparency through online websites and apps. In line with this, there has been a surging adoption of online food delivery modes, as it enables consumers to compare the menus and prices of various restaurants and order food according to their tastes and preferences at a better price, is positively influencing the market growth.

Additionally, the widespread availability of a wide range of food options on food delivery websites and apps, including Vietnamese cuisines, western cuisines, and South Asian cuisines, catering to the unique food preferences of different consumers across the country has catalyzed market growth.

Apart from this, the online food delivery system provides a complete customer database that helps identify recurring customers, their preferences, and repeated orders. In addition, the rising efficiency of restaurants due to online orders as they make day-to-day operations more efficient and eliminate the need for employees to receive orders manually via telephones, enabling them to focus more on dine-in customers, has catalyzed the market growth. Other factors, including the emerging food service industry, improving restaurant productivity, inflating consumer disposable incomes, and changing lifestyles, are also anticipated to provide a positive thrust to the market growth.

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Key Market Segmentation:

Market Breakup by Ordering:

• Mobile Application
• Website

Market Breakup by Cuisines:

• Vietnamese Cuisine
• Western Cuisine
• Italian Cuisine
• South Asian cuisine

Market Region Summary:

• Southern Vietnam
• Northern Vietnam
• Central Vietnam

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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