Grab Dominates Southeast Asia's Online Food Delivery Market, Outperforming Gojek and Shopee

Cindy Mutia Annur 07/02/2024 15:55 WIB

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According to a Momentum Works report, GrabFood dominated the online food delivery market in Southeast Asia in 2023.

Top Grossing Online Food Delivery Apps/Services in ASEAN (2023)

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Top Grossing Online Food Delivery Apps/Services in ASEAN (2023)

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According to a Momentum Works report, GrabFood dominated the online food delivery service market in Southeast Asia in 2023.

Throughout 2023, the gross merchant value (GMV) of Grab's service is estimated to have reached US$9.4 billion, or approximately Rp147.39 trillion (using an exchange rate of Rp15,680/US$), surpassing competitors Gojek and Shopee's online food delivery services.

The report states that Grab is estimated to have contributed 55% of the total GMV of online food delivery in Southeast Asia in 2023, a 6.8% increase year-on-year (YoY).

According to Momentum Works, GrabFood also excelled in six major ASEAN online food delivery markets. The Singapore-based company controlled 65% of the online food delivery market share in Malaysia and 63% in Singapore.

GrabFood also dominated the Philippine market share with 61%, followed by Indonesia with 50%, and Vietnam and Thailand with 47% each.

Next, Foodpanda ranked second in Southeast Asia, with a gross merchandise value of US$2.7 billion. This German online food delivery service, on average, held the second-largest market share in the Philippines (39%), Malaysia (30%), and Singapore (28%).

Meanwhile, Gojek's online food delivery service, GoFood, ranked third in Southeast Asia with a gross merchandise value of US$1.8 billion. This was followed by ShopeeFood with a gross merchandise value of US$1.5 billion.

Here are the 8 online food delivery apps/services with the largest gross merchandise value in Southeast Asia in 2023:

1. GrabFood: US$9.4 billion
2. Foodpanda: US$2.7 billion
3. GoFood: US$1.8 billion
4. ShopeeFood: US$1.5 billion
5. Line Man: US$1.3 billion
6. Deliveroo: US$200 million
7. Robinhood: US$100 million
8. Bae Min: US$100 million

Overall, Momentum Works estimates that the gross merchandise value of online food delivery services in Southeast Asia reached US$17.1 billion in 2023. This figure grew by 5% year-on-year (YoY).

Editor : Padjar Iswara

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."