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Indonesia’s $3.7b food delivery market largest in region
Grab holds nearly half of the Southeast Asian market.
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A GrabFood driver prepares to make a delivery outside a McDonald's restaurant in Kuala Lumpur, Malaysia, on July 8, 2020. (REUTERS/Lim Huey Teng)
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ndonesia had the largest food delivery service market in Southeast Asia in 2020 in terms of gross merchandise value (GMV), according to a report by venture capital firm Momentum Works.
The GMV of the country’s food delivery services was US$3.7 billion, accounting for about 31 percent of the total food delivery value of Thailand, Singapore, Malaysia, the Philippines, Vietnam and Indonesia itself.
The total GMV for the region was $11.9 billion in 2020, up 183 percent from the year before and exceeding the 91 percent growth rate from 2018 to 2019.
“One of the reasons, which we all know, for this big growth was COVID-19,” Momentum Works chief operating officer Yorlin Ng said during a virtual press conference on Thursday.
Read also: Grab reports rise in deliveries, tipping during outbreak
“All of us at one point in time – or even now – are working from home, and some of us do not have time to cook, so we need to order food.”
Multiservice app company Grab contributed nearly half of the region’s GMW with $5.9 billion, followed by its competitors Foodpanda, Gojek, Deliveroo, LineMan and Now. Grab has surpassed Gojek’s food service market share in both Indonesia and Southeast Asia in general.
