Food delivery has quickly become an integral part of peoples' everyday lives, with more startups vying a piece of the market.
In Southeast Asia, food delivery startup companies have raised a total of $2.75 billion in 2020, about 1/3 of all funding raised in the region.
Key Highlights
- In Southeast Asia, food delivery startups raised 1/3 of all available funding in the region, amounting to USD $2.75 billion.
- The food delivery market has also been growing rapidly, at over 30% year-on-year.
- Southeast Asia's food delivery market is expected to reach $15.5 billion in volume this 2021.
Why It Matters
- Growth of the food delivery industry was largely fueled by the pandemic as more people were forced to stay home.
- A large number of external services catered to the food delivery space have also emerged, ranging from packaging, utensils, waste management, and more.
- The space is becoming increasingly competitive, with new players even from the corporate sector (ie: AirAsia).
