Indonesia leads Southeast Asia’s food delivery market

Saturday, 2022-02-05 19:24:18
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Illustrative photo (Source: VNA)
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NDO/VNA - The market for food delivery services in Indonesia – the biggest in Southeast Asia – extended by 24.3 percent in 2021, according to a new report by venture capital firm Momentum Works.

The country’s gross merchandise value (GMV) in the food delivery market rose to 4.6 billion USD last year from 3.7 billion USD in 2020. Thailand and Singapore followed with 4 billion USD and 2.9 billion USD, respectively.

GrabFood of Grab accounted for almost one half of the GMV in the food delivery market in Indonesia, followed by Gofood of Gojek with 43 percent and ShopeeFood of Shopee with 8 percent.

Momentum Works CEO Jianggan Li said that COVID-19 social restrictions imposed in the second and third quarter last year have boosted food delivery growth across Southeast Asia.

The report assessed such growth in six nations – Thailand, Singapore, Malaysia, the Philippines, Vietnam and Indonesia. These countries’ GMV in the food delivery market increased by 30 percent to 15.5 billion USD in 2021, lower than the 2020 expansion of 183 percent.

Grab also led the region in terms of GMV in the food delivery market with 7.6 billion USD. Foodpanda owned by Berlin-based Delivery Hero came second and Gojek third with 3.4 billion USD and 2 billion USD, respectively.