The food delivery market in Singapore has been rapidly growing in recent years, driven by changing consumer preferences and advancements in technology.
Customer preferences: Customers in Singapore are increasingly looking for convenience and speed when it comes to food delivery. This has led to a rise in demand for online food delivery services, which offer a wide range of options and quick delivery times. Additionally, consumers are becoming more health-conscious and are looking for healthier food options, which has given rise to the popularity of healthy food delivery services.
Trends in the market: One of the biggest trends in the Singaporean food delivery market is the rise of cloud kitchens, which are delivery-only restaurants that operate out of a central kitchen. These kitchens are able to provide a wide range of food options at lower costs, which has made them popular with both consumers and businesses. Another trend is the increasing use of technology, such as mobile apps and AI-powered chatbots, to streamline the ordering and delivery process.
Local special circumstances: Singapore is a highly urbanized city-state with a high population density, which has made it an ideal market for food delivery services. Additionally, the city-state is known for its vibrant food culture, which has made it a hub for food delivery services that offer a wide range of local and international cuisine options.
Underlying macroeconomic factors: The Singaporean economy has been growing steadily in recent years, which has led to an increase in disposable income and consumer spending. This has made it easier for consumers to afford food delivery services and has led to a rise in demand. Additionally, Singapore has a highly developed infrastructure and a strong logistics network, which has made it easier for food delivery services to operate efficiently and effectively.
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)
