Singapore player Grabs lion's share of food delivery market

Singapore

SINGAPORE-HEADQUARTERED ride-hailing giant Grab has cornered the food delivery market, contributing close to half of South-east Asia's food delivery gross merchandise value (GMV) in a year that saw demand in the region skyrocket.

Total food delivery GMV in the region reached an estimated US$11.9 billion in 2020 on the back of 183 per cent year-on-year growth according to research by venture outfit Momentum Works, which scales and manages tech ventures, with a particular focus on South-east Asia.