Wilmington, Delaware, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Nigeria Online Food Delivery Market is valued at US$ 0.5 billion in 2023 and is expected to grow at a significant CAGR of over 20% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The Nigeria online food delivery market refers to the digital platforms and services that enable consumers to order food from restaurants and have it delivered to their door through online apps or websites. Nigeria has seen considerable growth in this business.
Nigeria has a rapidly urbanizing populace that leads a hectic lifestyle. Many people, particularly in cities, have little time to cook. Online food delivery services offer a practical solution for busy professionals and families seeking quick and easy dinner options.
- According to a deep-dive market assessment by RationalStat, the Nigeria Online Food Delivery market has been analyzed on the basis of market segments, including platform type, payment mode, business model, end user, and geography/regions (incl. Northern Nigeria, Western Nigeria, Eastern Nigeria). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Nigeria Online Food Delivery market covers market sizes on the basis of market value (US$/EUR Million) and volume (Number of Orders/Order Value) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Nigeria Online Food Delivery market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Nigeria Online Food Delivery Market: Segmental and Market Share Analysis
- On the basis of platform type, mobile application segment is predicted to dominate the Nigeria online food delivery market. Most of the consumer use mobiles for order food and as it is more convenient to use.
- On the basis of business model, order focused food delivery system accounted for the largest market share of 12% in 2022.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 0.5 billion |
| Market Size Forecast | US$ 1.6 billion |
| Growth Rate | 20% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Nigeria Online Food Delivery market include,
- In August 2023, The CEO of Chowdeck, one of Nigeria's most reputable fast-food logistics companies, stated that Chowdeck made over 10,000 deliveries in a single day.
Some of the prominent players and suppliers operating and contributing significantly to the Nigeria Online Food Delivery market growth include Jumia Food, Foodpanda, AreaChops, Chopnownow, Foodie Nigeria, Foodstantly, Gingerbox, GoFood, NajiaEats, and Chowdeck, among others.
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Nigeria Online Food Delivery Market: Market Segmentation and Table of Content
RationalStat has segmented the Nigeria online food delivery market based on platform type, payment mode, business model, end user, and region
- Nigeria Online Food Delivery Market Value (US$ Million), Volume (Number of Orders/Order Value), and Market Share (2019-2030) Analysis by Platform Type
- Mobile Applications
- Websites
- Nigeria Online Food Delivery Market Value (US$ Million), Volume (Number of Orders/Order Value), and Market Share (2019-2030) Analysis by Payment Mode
- Online
- Cash on Delivery
- Nigeria Online Food Delivery Market Value (US$ Million), Volume (Number of Orders/Order Value), and Market Share (2019-2030) Analysis by Business Model
- Order Focused Food Delivery System
- Logistic Focused Food Delivery System
- Full Service Focused Food Delivery System
- Nigeria Online Food Delivery Market Value (US$ Million), Volume (Number of Orders/Order Value), and Market Share (2019-2030) Analysis by End User
- Individual
- Corporate
- Nigeria Online Food Delivery Market Value (US$ Million), Volume (Number of Orders/Order Value), and Market Share (2019-2030) Analysis by Region
- Northern Nigeria
- Western Nigeria
- Eastern Nigeria
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Key Questions Answered in the Nigeria Online Food Delivery Report:
- What will be the market value of the Nigeria Online Food Delivery market by 2030?
- What is the market size of the Nigeria Online Food Delivery market?
- What are the market drivers of the Nigeria Online Food Delivery market?
- What are the key trends in the Nigeria Online Food Delivery market?
- Which is the leading region in the Nigeria Online Food Delivery market?
- What are the major companies operating in the Nigeria Online Food Delivery market?
- What are the market shares by key segments in the Nigeria Online Food Delivery market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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