Amidst Thailand's bustling street food scene, the Online Food Delivery market has been steadily growing in recent years.
Customer preferences: With the increasing popularity of smartphones and the convenience they bring, more and more Thai consumers are turning to online food delivery services. In addition, the COVID-19 pandemic has accelerated the trend as people are staying home more and avoiding crowded areas. Thai consumers also value the variety of food options available through online platforms, as well as the ease of ordering and delivery.
Trends in the market: The Online Food Delivery market in Thailand is becoming increasingly competitive, with both local and international players vying for market share. As a result, companies are offering more promotions and discounts to attract customers. Additionally, there is a trend towards offering healthier food options, as well as the inclusion of more local and traditional dishes on menus.
Local special circumstances: Thailand's unique street food culture presents both opportunities and challenges for the Online Food Delivery market. While there is a wide variety of delicious and affordable street food available, it can be difficult for online platforms to replicate the same experience and quality of food. Additionally, Thai consumers may be hesitant to order certain types of food online, preferring to see and smell the food before making a purchase.
Underlying macroeconomic factors: Thailand's growing middle class and urbanization have contributed to the growth of the Online Food Delivery market. In addition, the government's push towards a cashless society has made it easier for consumers to make online purchases. However, the market is not without challenges. The high cost of delivery and logistics, as well as the need to maintain food quality and safety, are ongoing concerns for companies operating in the market.
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.
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