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Indonesia food delivery industry grows 24 percent
Grab accounts for a large chunk of gross merchandize value (GMV) in the biggest food delivery market in Southeast Asia.
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A GrabFood rider wears a mask to protect himself against COVID-19 while working in Jakarta on July 13, 2020. (REUTERS/Ajeng Dinar Ulfiana)
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ndonesia’s market for food delivery services – the biggest in Southeast Asia – grew by 24.3 percent last year, 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 US$4.6 billion last year from $3.7 billion in 2020. Thailand and Singapore followed with $4 billion and $2.9 billion, respectively.
“COVID-19 social restrictions imposed in the second and third quarter last year due to the Delta variant have boosted food delivery growth in Southeast Asia,” Momentum Works CEO Jianggan Li said during a media briefing on Thursday.
Read also: Indonesia’s $3.7b food delivery market largest in region
Indonesia’s food delivery GMV accounted for 29.6 percent of the total of the six assessed countries: Thailand, Singapore, Malaysia, the Philippines, Vietnam and Indonesia itself.
The total food delivery GMV of those countries grew 30 percent last year to $15.5 billion, a slowdown from the 183 percent increase seen in the year before.
“As players expand into new cities and services, and the restaurant industry becomes more digitally enabled, we anticipate continued growth of food delivery well into 2022,” Li said.
