With a modest 6.8% increase in GMV, Grab's dominance in Southeast Asia's food delivery scene is more Michelin star than street food stall. Its rivals, Foodpanda and Gojek, are eating Grab's dust with declines of 12.9% and 10% respectively. Yet, with only 5% of SEA's 600M folks as customers, the food delivery pie looks as expansive as my waistline after Thanksgiving. The region's appetite for food delivery grew by 5% to a hearty €15.4B, with Vietnam leading the munch, showing a 28% increase in GMV. Meanwhile, premium brands are tightening their belts amid economic jitters, and the market sees a stir with Delivery Hero's exit from Vietnam and Chinese coffee brands stirring up the scene.
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