Section
Other Services
About Us
Other
SUBSCRIBE
Digital Products
Today's Bangkok Post newspaper
TODAY’S PAPER
BangkokPost.com
Southeast Asia food delivery market slows in risk to Grab, GoTo
Business

Southeast Asia food delivery market slows in risk to Grab, GoTo

published : 18 Jan 2023 at 10:59

writer: Bloomberg News

A food delivery driver waits for orders, as her child takes a rest beside her in front of CentralWorld, Bangkok. (Photo: Apichart Jinakul)
A food delivery driver waits for orders, as her child takes a rest beside her in front of CentralWorld, Bangkok. (Photo: Apichart Jinakul)

SINGAPORE: Southeast Asia’s food delivery spending grew at the slowest pace in at least four years in 2022, highlighting the challenges faced by regional internet giants Grab Holdings Ltd and GoTo Group.

Online food delivery spending rose 5% to US$16.3 billion, according to an annual report by Singapore-based consultancy Momentum Works. That was the smallest gain since 2018, when the company started tracking data. Growth in the Philippines, Malaysia and Vietnam offset declines in Singapore, Indonesia and Thailand.

Singapore-based Grab extended its lead in Southeast Asia’s food delivery market. The company, with operations in eight countries, posted gross merchandise value of $8.8 billion last year, accounting for 54% of the market. Delivery Hero SE’s Foodpanda, which operates across Asia, posted GMV of $3.1 billion in Southeast Asia, making up 19% of the total, followed by GoTo’s Gojek and Line Man, the report showed.

Do you like the content of this article?
COMMENT (1)
MOST RECENT
Thailand

Heatwaves spark health fear

Weathermen urged citizens to beware of the heat, especially vulnerable groups, as the weather is expected to remain hot and sunny until early May.

07:03
Thailand

Thais abroad 'should' cast postal votes

Four political parties yesterday called on the Election Commission (EC) to coordinate with the Foreign Affairs Ministry to adopt postal voting as the main method for early voting by Thais abroad.

06:13
Tech

Italy blocks AI chatbot ChatGPT over data privacy failings

ROME - Italy said on Friday it was temporarily blocking ChatGPT over data privacy concerns, the first western country to take such action against the popular artificial intelligence (AI) chatbot.

05:45