Press Release

A USD 3.93 Billion GCC Online Food Delivery Market to Grow at a CAGR of Around 14.48% During 2024-2030

The GCC Online Food Delivery Market size was valued at around USD 3.93 billion in 2023 and is projected to reach around USD 11.18 billion by 2030. The market is also expected to grow at a CAGR of around 14.48% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report.

In the GCC region, the online food delivery market is continuously growing due to various reasons such as more individuals owing smartphones and easy access to the internet. Along with this, the gradual evolution of technology and the introduction of user-friendly food ordering platforms are also contributing to the market growth. Further, the GCC nations are witnessing a surge in the expatriate population due to rising job opportunities. These individuals follow a hectic schedule due to the long working hours. As a result, they increasingly rely on online food delivery platforms to order lunch and dinner.

Moreover, since the corporate professional spends almost 8 hours in the office and the majority of the individuals do not carry home-prepared meals. Therefore, the offices in the GCC nations, such as the UAE, Saudi Arabia, etc., are ordering food for their employees via these applications. additionally, the platforms are providing customizable corporate meal packages, which offer different food based on the employee’s eating habits. This is gaining the attention of the employees who are following a strict diet or have food preferences such as No sugar, high protein value, etc.

Further, post-COVID-19, consumers have become more comfortable ordering food online and eating food at home rather than dining out or eating at restaurants. Further, online food delivery services offer more convenience. Owing to this, the consumers are transitioning towards the online mode, supporting market growth & expansion.

Furthermore, the online delivery platforms are increasingly incorporating the advanced features in their mobile application. They are integrating technologies, like AI & ML to make the order experience satisfying for the users. Also, they are amalgamating digital payment options, which is eradicating the worry of keeping adequate cash at the time of delivery. These advanced features will continue to attract consumers’ attention in the forecast years, further states the research report, “GCC Online Food Delivery Market Analysis, 2024.”

Segmentation Analysis

Platform-to-Consumer Segment Holds the Largest Market Share

Based on the service type, the market is bifurcated into Platform-to-Consumer and Restaurant-to-Consumer. Among them, the Platform-to-Consumer segment holds a substantial market share due to the wide range of cuisines offered by these platforms. This type of platform has the menus and dishes of various restaurants and the consumers can choose their food order after comparing it with the other available dishes. Along with this, these platforms provide the consumers with adequate reviews & prices of dishes from the different restaurants. This helps the customers to decide on the food purchase. Besides, the Restaurant-to-Consumer only provides the dishes made by them and offers their delivery up to certain kilometers. Therefore, the customers prefer to place the order through the third-party applications since they help in delivering the orders across the cities. Further, the Platform-to-Consumer services now provide real-time order updates, robust order cancellation policies, and contactless delivery options, which would enhance customer satisfaction & support market growth during the forecast period.

Saudi Arabia Leads the GCC Online Food Delivery Industry

Geographically, Saudi Arabia holds a prominent market share due to the rising urbanization, increasing workforce, and expansion of the companies within the country. In recent years, Saudi Arabia has experienced substantial growth in the urban population and the employment rate. This has resulted in the higher adoption of online food delivery services since the workforce in the country has less time to prepare the food. Further, the companies have started offering unique & innovative food dishes, as a result, the younger generation is highly trying on these dishes and frequently placing orders online. Along with this, the top companies in the country are increasingly adopting marketing strategies by giving one-month free delivery trials to consumers. These strategic plans of the companies are further luring the customers, and supporting the market growth in Saudi Arabia.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Talabat, Deliveroo, Mrsool, Zomato, Carriage, Careem, HungerStation, Jahez, EatEasy, Noon Food, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & services adoption?
5. How has the competition been shaping up across various countries?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?