Momentum Works has now released its latest annual report for 2023 in the food delivery industry arena. Through it, it shows that Grab through GrabFood now has a market share of 65% in Malaysia.
It is followed by FoodPanda in second position with a share of 30%, while ShopeeFood is in third place with a share of 5%. It was also shown that the food delivery industry in Malaysia is worth $2.4 billion in 2023, which is around RM11.34 billion.
Grab is seen to have the most extensive holdings and positions in Malaysia, compared to other countries in the Southeast Asian region.
Recently, there have also been reports stating that FoodPanda may sell their operations in the region, including the Malaysian market. For now, it is not known who will buy it – and if Grab gets FoodPanda, then they will hold almost the entire food delivery market in Malaysia.
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BUSINESS & MONEY