January 28, 2026
SINGAPORE – Singapore’s food delivery market is among the slowest-growing in the region, a new study has found, even as South-east Asia’s food delivery sector expanded at its fastest pace in years on the back of more deals and higher order frequency.
Food delivery gross merchandise value (GMV) in Singapore grew by 13 per cent in 2025, rising from US$2.6 billion (S$3.3 billion) in 2024 to US$2.9 billion, according to the “Food Delivery Platforms in Southeast Asia” report by consultancy Momentum Works.
Released on Jan 28, the sixth edition of the annual report found that South-east Asia’s food delivery market grew 18 per cent year on year in 2025 to US$22.7 billion in GMV, up from US$19.3 billion, and accelerated from 13 per cent growth the year before.
This marked the strongest expansion since 2020 to 2021, when Covid-19 pandemic-driven demand pushed growth to about 30 per cent.
Of the six Asean markets covered in the study, Singapore recorded the second-slowest growth, ahead of only the Philippines at 12 per cent. Momentum Works said growth in the Philippines was dampened by repeated disruptions from tropical cyclones.
When asked about Singapore’s slower growth, Momentum Works chief executive Li Jianggan said that each country in the region has its unique consumer base, city topography, spending power and supply dynamics of both riders and restaurants.
“Food delivery costs can be expensive in Singapore, especially when there are many affordable offline options,” he said.
Singapore’s double-digit growth suggests demand for food delivery remains strong, but Mr Li said sustaining that pace will put increasing pressure on platforms to operate more efficiently, especially as diners weigh alternatives like eating out or self-pick-up.
Unique to the Republic is its limited pool of delivery riders, which he said is a structural challenge for Singapore, compared with its larger and more populous neighbours.
“Adoption of technology will help, but platforms’ relentless focus on building density and operational efficiency would be the key drivers of raising the ceiling,” he said.
Thailand recorded the fastest growth at 22 per cent, which the report attributed to platforms’ affordability initiatives, heightened competition and the government’s “half-half” subsidy scheme, which helps offset part of consumers’ food spending.
Indonesia, Malaysia and Vietnam followed closely, each recording growth of around 18 to 19 per cent. Indonesia, the region’s largest market by population, posted the biggest absolute increase in value, adding about US$1 billion in GMV.
Grab dominance
At the platform level, Grab strengthened its position as South-east Asia’s dominant food delivery player, increasing its regional market share from 53.8 per cent in 2024 to about 55 per cent in 2025. In absolute terms, Grab generated an estimated US$12.5 billion in food delivery GMV across the region last year.
ShopeeFood overtook foodpanda to become the region’s second-largest player, the report said, with an estimated US$3.3 billion in transactions, while foodpanda’s GMV slipped to about US$2.6 billion.
Gojek and Thailand-based Lineman were level in pure GMV terms, at roughly US$2 billion each, reflecting Lineman’s strong performance in its home market.
Beyond GMV, the study highlighted how South-east Asia now generates far more food delivery orders each day than other large emerging markets. Momentum Works estimated that platforms in South-east Asia collectively fulfilled between 8.5 million and 9.5 million food delivery orders on an average day in 2025.
This is almost double the estimated daily order volume in India, which stands at four million to five million orders despite the Indian population being roughly twice that of South-east Asia. The report said that part of the reason for India’s relatively small food delivery market could be the people’s eating habits, and the lack of supply of food establishments.
China, by contrast, has an estimated 180 million to 200 million food delivery orders fulfilled daily, even though its population is smaller than India’s.
“This highlights that food delivery penetration is shaped less by population size, and more by urban density, eating-out substitution, and platform-led affordability mechanics,” the report said.