Certainly, growth in the local market has moderated from pandemic highs, but penetration remains among the highest in Southeast Asia.
Based on our research, Singapore ordered about US$2.9 billion worth of food deliveries in 2025. For perspective, that is 44 per cent of Indonesia’s total value despite Indonesia having a population 46 times larger.
That said, local user behaviour has changed. Order frequency has stabilised. Consumers are more price-sensitive given the choices of delivery, self-pick-up and dine-out. Promotional intensity too has normalised from pandemic-era highs.
In such an environment, the third platform player – in this case, Deliveroo – struggled.
It is worth noting that the food delivery industry’s consolidation trend is not unique to Singapore. Food delivery markets in many developed cities have moved toward two-player structures, as investors become less tolerant of sub-scale operations in saturated markets. Profitability discipline has replaced growth-at-all-costs.
In Southeast Asia for instance, Grab is the dominant player with market shares of 46 per cent to 69 per cent across the six markets that we track. Vietnam is the sole exception, where its share of the market is on par with ShopeeFood at 48 per cent each.
Foodpanda is the second-biggest player in three regional markets – Singapore, Malaysia and Philippines – while Line Man holds the second position in Thailand.
Smaller players hardly saw any breakthrough in 2025.
Continue reading...
Based on our research, Singapore ordered about US$2.9 billion worth of food deliveries in 2025. For perspective, that is 44 per cent of Indonesia’s total value despite Indonesia having a population 46 times larger.
That said, local user behaviour has changed. Order frequency has stabilised. Consumers are more price-sensitive given the choices of delivery, self-pick-up and dine-out. Promotional intensity too has normalised from pandemic-era highs.
In such an environment, the third platform player – in this case, Deliveroo – struggled.
CONSOLIDATION IS THE NEW GLOBAL NORM
It is worth noting that the food delivery industry’s consolidation trend is not unique to Singapore. Food delivery markets in many developed cities have moved toward two-player structures, as investors become less tolerant of sub-scale operations in saturated markets. Profitability discipline has replaced growth-at-all-costs.
In Southeast Asia for instance, Grab is the dominant player with market shares of 46 per cent to 69 per cent across the six markets that we track. Vietnam is the sole exception, where its share of the market is on par with ShopeeFood at 48 per cent each.
Foodpanda is the second-biggest player in three regional markets – Singapore, Malaysia and Philippines – while Line Man holds the second position in Thailand.
Smaller players hardly saw any breakthrough in 2025.
Continue reading...