Grab still tops SEA’s food delivery market in 2021: report

Grab is still leading the charge for food delivery in Southeast Asia in terms of gross merchandise value (GMV), contributing almost half of the region’s total GMV of US$15.5 billion – another all-time high.

Photo credit: Momentum Works

According to the Food Delivery Platforms in Southeast Asia report by Momentum Works for 2021, Grab generated US$7.6 billion in GMV last year. It painted a similar story to 2020, when Grab contributed US$5.9 billion in GMVs to Southeast Asia’s total of US$11.9 billion.

For 2021, Grab was followed by Foodpanda at US$3.4 billion and Gojek/GoTo at US$2 billion, also sticking to their positions from the previous year.

Photo credit: Momentum Works

The report also revealed that Grab is the food delivery leader in Indonesia, Thailand, Singapore, Vietnam, and the Philippines in terms of market share. It fell to second place in Malaysia, where Foodpanda grabbed 49% of market share compared to Grab’s 48%.

One regional player making headway in the space is Line Man, which has a 22% share of the market in Thailand.

Momentum Works also said that some of these players – Line Man, Grab, Gojek, and Foodpanda – have increasingly been pushing toward grocery and quick commerce, making use of their existing delivery infrastructure and customer base.

See also: Will India’s 10-minute quick commerce model last?

The report also found that these major players have been seeing improving margins, making way for their push for diversification. “Profitability is attainable with improving operational efficiencies, high order volume and supply density, and additional services to better monetize the platform and retain customers,” it read.

See also: How Grab built its lead in the food delivery war