The food delivery market in Baltics has experienced a significant growth in recent years, driven by the increasing demand for convenience and time-saving options among consumers.
Customer preferences: Customers in Baltics prefer to order food online, as it offers a hassle-free experience and saves time. They are also more likely to order from restaurants that offer a wide variety of cuisines and have a good reputation for quality and timely delivery.
Trends in the market: One of the major trends in the food delivery market in Baltics is the increasing adoption of mobile apps for ordering food. Many food delivery companies in the region have developed user-friendly mobile apps that allow customers to easily browse menus, place orders, and track their delivery in real-time.Another trend in the market is the growing popularity of healthy food options. Many food delivery companies in Baltics have started offering healthy meal options, catering to the increasing demand for nutritious and balanced meals among customers.
Local special circumstances: The food delivery market in Baltics is highly competitive, with many local and international players vying for market share. However, local players have an advantage due to their deep understanding of local tastes and preferences.Moreover, the region's harsh winters pose a challenge for food delivery companies, as snow and ice-covered roads can make it difficult for delivery drivers to reach their destinations on time. To overcome this challenge, many companies in the region have invested in specialized vehicles and equipment to ensure timely and safe delivery during the winter months.
Underlying macroeconomic factors: The growing popularity of food delivery services in Baltics can be attributed to several underlying macroeconomic factors, including the increasing urbanization and changing lifestyles of consumers. As more people move to cities and lead busy lives, they are increasingly looking for convenient and time-saving options for food.Furthermore, the region's strong economic growth and rising disposable incomes have also contributed to the growth of the food delivery market in Baltics. With more disposable income, consumers are willing to spend more on food delivery services and are more likely to try out new and innovative options.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
