GRAB led the food delivery market in South-east Asia in 2023, accounting for nearly 55 per cent of the food delivery gross merchandise value (GMV) in the region, according to a report by Momentum Works. While Grab grew 6.8 per cent year on year in terms of GMV, its closest competitors Foodpanda and Gojek declined by 12.9 per cent and 10 per cent year on year, respectively.

As Grab counts only 5 per cent of the region’s 600 million population as monthly transacting customers, there remains a large pool of potential users for food delivery apps in South-east Asia, noted the report.

Overall, South-east Asia’s food delivery expenditure topped US$17.1 billion, growing by 5 per cent year on year.