Nigeria Online Food Delivery Market Outlook 2023-2028: Industry Growth (CAGR) of 12.2%, Analysis Report and Forecast

PRESS RELEASE

Published February 7, 2023

The Nigeria online food delivery market size reached US$ 834.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,719.4 Million by 2028, exhibiting a growth rate (CAGR) of 12.2% during 2023-2028.

Online food delivery is the process of ordering food online, for delivery or pickup, from a website or other application. The food can be either ready-to-eat or has yet to be specially prepared for direct consumption. Online food delivery via third-party companies is an emerging trend. There are different forms of online food delivery, namely restaurant-controlled, independent websites, food cooperatives, and delivery platforms. It is gaining traction, especially in urban areas that allow individuals to order from restaurants featuring unique menus through the internet connection. It offers numerous benefits such as making the ordering process easier, efficient customer and order management, monitoring your expenses incurred in real-time, free and cheap marketing, and convenience of mobile ordering. Many food delivery mobile apps in Nigeria are famous for their food delivery services. Some of them are Jumia food, Chopnownow, Domino's Pizza Nigeria, GoFood, and AreaChops.

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Industry Growth:

The market in Nigeria is majorly driven by significant growth in the food industry. In line with this, the increasing popularity of food delivery services is significantly contributing to market growth. Furthermore, the rising demand for convenient food products among the masses is positively influencing the market. This can be attributed to the consumers' hectic schedules and sedentary lifestyles, especially working professionals. Apart from this, online food delivery offers ease, speed, and precision, which is expected to bolster market growth. Moreover, the growing penetration of smartphones and internet connectivity across the country allows customers to order food directly from their phones, which is favorably impacting the market expansion. Besides, the rapid adoption of online sales by multiple brick-and-mortar food chains is anticipated to boost the market growth. Additionally, the escalating incorporation of modern technologies, such as predictive analytics, artificial intelligence (AI), big data, and machine learning (ML) with online delivery platforms to provide a personalized experience to customers is providing an impetus to market growth across the country.

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Competitive Landscape with Key Players:

AreaChops
Chopnownow
Foodie Nigeria
Foodstantly
Gingerbox
GoFood (AT&A Retail Limited)
Jumia Foods
NaijaEats
Ofood (Opay)

Breakup by Platform Type:

Mobile Applications
Websites

Breakup by Business Model:

Order Focused Food Delivery System
Logistics Based Food Delivery System
Full-Service Food Delivery System

Breakup by Payment Mode:

Online
Cash on Delivery

Breakup by End User:

Individual
Corporate

Breakup by Region:

North West
South West
North Central
Others

Key Highlights of the Report:

Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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