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Malaysia Online Food Delivery Market: Future Innovation Strategies, Growth & Profit Analysis, Forecast by 2025

Over the past few years, the food delivery market has grown rapidly in Southeast Asia, especially in Malaysia. The tremendous amount of time spent by a consumer in heading to a restaurant, selecting their own food, ordering and eating have paved the way for the online food delivery concept. The establishment of companies such as Foodpanda, DeliverEat, Uber Eats, Honestbee, Running Man Delivery, Dahmakan, and FoodTime over a short time span has resulted in intense competition over the past few years. Some of the key trends of the Malaysia online food delivery market include:

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The restaurant-to-consumer delivery accounted for a market share of 94.7% in 2017 as specific restaurants have started offering in-house delivery. The customer base is more for restaurant-to-platform delivery as consumers prefer paying directly to the restaurant other than a third party. With the advent of advancement in mobile technology, developers are innovating apps for consumers ordering food online, in turn raising sales. One of the key players in this market, Domino’s, provides restaurant-to-consumer delivery with the aim of having complete control over the consumer’s dining experience, from ordering and meal preparation to delivery and payment.

The share of females ordering food online accounted for 48.5% as of 2017 owing to the increased number of working females in recent years. Technological advancements and changing lifestyles, the working sector has also almost equal population of female employees as the male population. Also with the advancement in mobile phones, the ease of ordering food online through these delivery apps has been a critical contributing factor for driving online food sales.

Read more details of Malaysia Online Food Delivery Market at: https://www.adroitmarketresearch.com/industry-reports/malaysia-online-food-delivery-market

Online food delivery is outpacing the overall dine-in restaurant industry growth owing to changing consumer lifestyle coupled with the millennial population. Consumers living in metropolitan cities are more inclined towards online delivery platforms owing to their convenience over menus, prices and peer reviews across the restaurant also with the simpler modes of payments. With the increase in working population coupled with long working shifts and prolonged commuting hours, consumers tend to order food online and get it delivered at their doorstep. Also, consumers prefer getting hot prepared meals other than buying frozen meals from food stores all the time. In the coming years, with the increase in online food delivery companies, there will be a tougher competition between domestic services and the third party delivery services with companies offering both healthier and high-quality food.

The online food delivery market is also driven by the easy availability of mobile phone apps that provide various coupons at greater redemption rates. With the technological advancement in mobile phones, apps earn a profit by getting large amounts of business to the vendors and restaurants and, in addition to it, charging them with a commission over it. Since the app makes money from both vendors and restaurants, the revenue grows exponentially expanding the network of this market. The food delivery operators have high labor costs and hence high delivery costs. With the increase in the number of orders, there will be a need for more riders and, hence, an increase in capital investment for the food delivery operators. The food delivery services have altered consumer behavior according to their customer base especially in the metropolitan areas as there is a large crowd preferring prepared food in comparison to the consumer pool residing in other rural or inner-city areas.

Consumer satisfaction is the most important criteria for an online food delivery market which needs to have ease in using the app along with their choice of restaurants highlighting the best seller menus. The on-time delivery of the order is also a major attribute for consumer satisfaction which plays a significant role in this market coupled with complaint resolution of the consumers. Optimizing consumer satisfaction is directly connected to the delivery process. For instance, although the cost of delivery is higher for the captive delivery fleet as compared to 3PL and restaurant delivery, captive delivery is in the leading position for higher customer satisfaction by minimizing the delivery time and by being order compliant.

Key segments of the Malaysia online food delivery market

Type Overview, 2015-2025 (USD Million)

  • Restaurant-to-consumer delivery
  • Platform-to-consumer delivery

Consumer Age Overview, 2015-2025 (USD Million)

  • Generation Z
  • Millennials
  • Generation X
  • Baby Boomers

Gender Overview, 2015-2025 (USD Million)

  • Male
  • Female

Income Level Overview, 2015-2025 (USD Million)

  • Low Income
  • Medium Income
  • High Income

What does the report include?

  • The report on the Malaysia online food delivery market has been divided into three main sections, where the first section discussed the qualitative trends and insights including driving and restraining factors as well as the value chain
  • The second section of the report deals with the industry size and forecast estimations for various segments of the Malaysia online food delivery market including type, consumer age, gender, and income level.
  • The final section of the study covers detailed information of the vendors operating within the Malaysia online food delivery market divulging information related to company overview, financial performance (available on public domain), products/services, as well as their recent initiatives

Enquire more details of the report at: https://www.adroitmarketresearch.com/researchreport/purchase/823  

This post was originally published on Downey Magazine