Nguyen Minh Hang in Hanoi receives many ads about discounts for food ordering services every day. With five apps installed on her smartphone, tens of offers come every week.

The online food ordering market remains young, but the competition is stiff. The appearance of new players has triggered a cutthroat race over the last year.

According to Statista, a market analysis firm, the food delivery market in 2018 had value of $148 million and grows 28.5 percent per annum. It was estimated that the revenue of the market reached $207 million in 2019.

About 7 million people use food ordering services, an increase of 2 million compared with the last year.

Considered the ‘pioneer’ in the market, the firm Now, which began delivering food in 2014 gained initial success as the only service provider. In mid-2017, Foody’s CEO revealed that Now had nearly 10,000 orders each day.

However, with the appearance of Grab, the monopoly of Now no longer exists and the food ordering market has exploded.

In June 2018, Grab officially launched GrabFood, jumping into the food delivery market. And it has been expanding very rapidly , now providing services in Hanoi, Da Nang and 15 cities/provinces just seven months since its official launch.

According to Statista, a market analysis firm, the food delivery market in 2018 had value of $148 million and grows 28.5 percent per annum. It was estimated that the revenue of the market reached $207 million in 2019.

Go-Viet also proves to be a rival. It introduced Go-Food, a food ordering service, soon after launching the e-hailing service and has been running a lot of advertisement and promotion campaigns to attract users.

It recently decided to use a singer with a high number of fans in Vietnam as the brand ambassador.

From a food searching app, in late 2017, Nguyen Hoang Trung and his co-workers developed Lozi into an e-commerce site and launched the Loship platform, which delivers food to customers.

The food delivery race became more competitive when Baemin, the food delivery app belonging to the South Korean unicorn Woowa Brothers announced business expansion into Hanoi after one year in HCM City.

In Vietnam, Woowa Brothers bought Vietnammm in 2019. And prior to that, Vietnammm bought Foodpanda Vietnam, which belonged to Rocket Internet.

Most recently, Shopee, an e-commerce firm, joined hands with Now, which is believed to directly compete with Grab.

While Now offers a wide range of dishes, utilizing resources from Foody platform, GrabFood launched the program ‘Mon doc quan quen’ (original dishes with one familiar shop) under which it cooperates with restaurants to create original dishes. Grab has 12 favorite restaurant brands on its platform. 

Thu Ky

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