Food delivery in Southeast Asia 5.0

Southeast Asia’s food delivery market is entering a new phase — growth has re-accelerated, competitive dynamics are shifting, and platforms are increasingly focused on profitability and structural efficiency.

In 2024, the region’s food delivery GMV reached US$19.3 billion, growing 13% year-on-year, a marked rebound after two consecutive years of muted 5% growth in 2022 and 2023. Vietnam and Indonesia emerged as the primary growth engines, recording 26% and 18% YoY growth respectively, with several other markets returning to double-digit expansion.

The competitive landscape continues to evolve. Grab strengthened its regional leadership, increasing its market share to 53.9%, while ShopeeFood overtook Gojek to become the third-largest food delivery platform in Southeast Asia. At the same time, TikTok has begun testing Local Services, starting with F&B vouchers in Indonesia and Thailand. While still nascent, TikTok’s entry could meaningfully challenge incumbents’ expansion into advertising and dine-out monetisation.

Food Delivery Platforms in Southeast Asia 5.0 is a decision-support report designed to help leaders understand where growth is coming from, how competition is evolving, and what strategic levers will matter most in the next phase of the market.

Built on Momentum Works’ ongoing ecosystem research and operator-level conversations, the report examines platform strategies, customer and rider segmentation, unit economics, and lessons from global food delivery developments.

Key highlights of this edition include:

• Why Southeast Asia’s food delivery growth rebounded in 2024
• Vietnam and Indonesia’s outsized role in driving regional expansion
• How Grab, ShopeeFood, and Gojek are repositioning strategically
• Early implications of TikTok’s entry into Local Services
• Why customer segmentation is working — and where further upside remains
• Rider operations as the next efficiency frontier
• 
  

This report is designed for decision-makers including:

• Executives and leadership teams at food delivery platforms
• Strategy, operations, and regional teams
• F&B groups and restaurant chains
• Investors and funds tracking consumer and platform ecosystems

How leaders use this report:

• To assess whether the market has truly entered a new growth cycle
• To benchmark platform strategies and competitive positioning
• To pressure-test expansion into advertising, dine-out, and new segments
• To identify operational and structural levers for profitability
• To prepare for the next phase of competition in Southeast Asia’s food delivery market

[Click here to access the Chinese version ｜ 点击这里获取中文版]