In a report released this week, the “Saudi Arabian Online Food Ordering and Delivery Market” was valued at $511.21 Million in 2020 and is forecast to grow at 10.05 percent CAGR during 2021 – 2026, according to Research and Markets.
Even after the challenges of the pandemic, the market showed consistent growth.
Going forwards, digitization, and the emergence of advanced online services is expected to drive the Saudi’s online food ordering and delivery market in the next five years.
Coming of age generation-Z leads a hectic life and the convenience for saving the time is a major factor for the growing popularity of online food ordering and delivery market in Saudi Arabia, the report noted.
The online food delivery services offer greater convenience to users as they can shuffle through several restaurants, food items, and different cuisines at a single touch point whilst sitting in their home, office, or any other place of convenience.
Moreover, users can receive in-depth information regarding their food, can compare food and price options, access feedback from previous buyers, avail various promotional schemes/offers, track the delivery person, make payment through various options like online payment, e-wallet payment, Cash on Delivery (CoD), and enjoy various other benefits through online ordering.
Most importantly, online food delivery services enable users to enjoy hassle free food, helping them save time and energy, which acts as a major driver for the market, the report said.
The Saudi Arabian Online Food Ordering and Delivery Market is segmented by operation type, source, payment, and region. Based on operation type, the market is bifurcated into food aggregator and restaurants. Food aggregators led the market in 2020 and the trend is likely to continue until 2026 due to convenience and wide range of options to choose from.
Major players operating in the Saudi Arabian Online Food Ordering and Delivery Market include Talabat, Hunger Station, Careem, Jahez, Mrsool Inc, Jahez, Lugmety, Toyou, Mathagi, The Chefz, Wssel, among others.