Grab Tightens Grip on Southeast Asia's Food Delivery Market, Reaching 55% Share in 2025
Overall Market Size: The 2025 online food delivery gross merchandise volume (GMV) across Southeast Asia's six core markets (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam) reached US$22.7 billion (approximately SGD 28.8 billion), growing 18% year-on-year (compared to 13% growth in 2024 and 5% in 2023). This marks the second consecutive year of double-digit growth post-pandemic, indicating strong demand recovery.
Grab's Performance: Grab's market share rose from 53.8% in 2024 to 55% in 2025, corresponding to GMV of approximately US$12.5 billion. Grab operates in all six countries and holds particularly high market shares in Singapore (69%), Malaysia (67%), and the Philippines (mostly exceeding 60-70%).
Competitive Landscape Shifts:
ShopeeFood overtook Foodpanda to become the region's second-largest platform, with a market share of approximately 14.54% (GMV ~US$3.3 billion), up from 11.9% in 2024.
Foodpanda fell to third place with GMV of ~US$2.6 billion.
Thailand's market is highly concentrated: Grab and Line Man together account for nearly 90% (Foodpanda exited Thailand in May 2025).
Vietnam's market is fiercely competitive: Grab and ShopeeFood dominate nearly all orders in a duopoly.
Growth Drivers:
Thailand recorded the fastest growth (22%), driven by government consumption subsidies and intense competition.
Indonesia, Malaysia, and Vietnam grew by 18-19%.
Singapore saw the slowest growth (near-flat), though Grab maintained the highest share.
Overall trend: Platform ecosystem integration is intensifying. If Grab's acquisition of GoTo progresses, it could trigger the next market reshuffle.
Industry Insights: The report emphasizes that post-2026 market share will increasingly depend on ecosystem support (e.g., e-commerce, payment, and financial integration). Pure subsidy-based competition is becoming unsustainable. Grab continues to lead through its super app advantage (mobility + food delivery + financial services), while ShopeeFood has emerged as the biggest variable by leveraging e-commerce traffic for rapid growth.
