Market Insights eCommerce Online Food Delivery

Meal Delivery - Malaysia

Malaysia

The Meal Delivery market in Malaysia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$614.80m in 2024.
This represents a substantial opportunity for businesses operating in this segment.
Furthermore, it is anticipated that the market will experience a consistent annual growth rate (CAGR 2024-2029) of 9.39%.
As a result, the projected market volume is expected to reach US$962.80m by 2029.
These figures highlight the potential for expansion and profitability in the Meal Delivery market.
When comparing the global landscape, it is worth noting that China is expected to generate the highest revenue in the Meal Delivery market, with an estimated US$182,900.00m in 2024.
This demonstrates the immense size and importance of the Chinese market in this industry.
In terms of average revenue per user (ARPU), the projected amount for the Meal Delivery market in Malaysia is US$57.01 in 2024.
This metric provides insights into the financial performance of businesses operating in this sector.
Moreover, the number of users in the Meal Delivery market is expected to increase significantly, reaching 13.5m users by 2029.
This indicates a growing demand for meal delivery services among consumers in Malaysia.
Lastly, the user penetration rate in the Meal Delivery market is projected to be 31.1% in 2024.
This metric represents the proportion of the population that actively utilizes meal delivery services.
With a user penetration rate of this magnitude, there is still room for further market penetration and growth in Malaysia.
Overall, the Meal Delivery market in Malaysia is poised for expansion, with substantial revenue projections, steady user growth, and a promising outlook for the future.
The demand for meal delivery services in Malaysia has surged, driven by busy urban lifestyles and a growing preference for convenient and time-saving food options.

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Analyst Opinion

Meal delivery services have become increasingly popular in Malaysia, with more and more consumers opting for the convenience of having meals delivered to their doorstep.

Customer preferences: One reason for the growth of the meal delivery market in Malaysia is the changing lifestyles of consumers. With busy work schedules and a desire for convenience, many consumers are turning to meal delivery services as a way to save time and effort. Additionally, the COVID-19 pandemic has accelerated the adoption of meal delivery services as consumers look for ways to avoid crowded restaurants and minimize contact with others.

Trends in the market: The meal delivery market in Malaysia has seen a significant increase in competition, with new players entering the market and existing players expanding their services. This has led to a wider range of options for consumers, including healthy meal options, specialized cuisine, and customizable meal plans. Another trend in the market is the use of technology to improve the ordering and delivery process, such as mobile apps and online ordering platforms.

Local special circumstances: One unique aspect of the meal delivery market in Malaysia is the popularity of street food and hawker stalls. While many consumers are turning to meal delivery services for convenience, there is still a large market for traditional street food. As a result, some meal delivery services are incorporating these traditional dishes into their offerings, while others are partnering with hawker stalls to offer delivery services for their customers.

Underlying macroeconomic factors: The growth of the meal delivery market in Malaysia is also influenced by macroeconomic factors such as rising urbanization and increasing disposable income. As more consumers move to urban areas and have higher disposable income, they are more likely to use meal delivery services as a convenient and time-saving option. Additionally, the COVID-19 pandemic has led to an increase in online shopping and delivery services, including meal delivery, as consumers look for ways to minimize contact with others.

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.