. Food is an integral part of its culture, and the Vietnamese food culture has been experiencing changes over time. For instance, the Vietnamese people of today are highly digital consumers with busy lifestyles who value convenience. As a result, the country has seen a growth in demand for services such as
in recent years. The COVID-19 outbreaks further intensified the usage of these services, including grocery delivery, as dining out was not an option during lockdowns and stay-at-home orders were in place in many cities across Vietnam.
Online food delivery landscape in Vietnam
Online food delivery is a relatively young but fast-growing industry in Vietnam. In 2022, the
market size of this segment, together with the online transport segment, totaled three billion U.S. dollars, and it was forecast to reach five billion U.S. dollars by 2025. As Vietnam is an emerging market with a lot of potential for these services, the competition in this sector is fierce. Since the beginning, Asian food delivery businesses have been dominating this market. While Southeast Asia’s super app Grab’s food delivery arm, GrabFood, held a 45 percent share of the market in 2022, fellow Singapore tech giant Sea Group recently acquired the Vietnamese app Now, rebranded it into ShopeeFood and inherited a 41 percent
share of the Vietnamese food delivery market. In the same year, the rest of the market was shared between two unicorn startups, South Korea’s Baemin and Indonesia’s Gojek. Meanwhile, Loship, a homegrown delivery startup, has recently joined the race. Although it has yet to gain a major slice of the market, it has so far received significant attention and funding from investors.
The future of the Vietnamese online food delivery market
During the COVID-19 pandemic, while the whole food service sector struggled due to mobility and tourism restrictions, the online food delivery market saw significant growth in usage. In 2022, although the COVID-19-related restrictions were lifted in Vietnam,
online food delivery continued to grow and became a billion-dollar industry at the end of the year. According to a survey conducted at the end of 2022, most Vietnamese consumers would like to
continue using food delivery services or even use these services more often in the following year. Just like other e-commerce trends, online food delivery is here to stay, as it fits right in with Vietnam’s new connected consumer generation and their appreciation for convenience and, of course, good food.
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