Thailand's Food Delivery Market Stabilizes Amid Reduced Competition
Thailand's online food delivery market is stabilizing with fewer players, improving financial results after incurring heavy losses. Major companies like Grab, Foodpanda, Line Man Wongnai, and Robinhood have seen varied financial performance, with Grab achieving notable profits. SCB X will be discontinuing Robinhood by July 2024, marking a significant exit in the industry.
Thailand’s online food delivery sector is becoming more stable with fewer players, as noted by industry expert Pawoot Pongvitayapanu.
Over the past three years, significant losses were reported—20.7 billion baht—against revenues of 110 billion baht.
Leading companies like Grab Group, Foodpanda Group, Line Man Wongnai, and Robinhood reported combined revenues of 41.1 billion baht last year, though Foodpanda, Line Man Wongnai, and Robinhood faced a collective loss of 3.14 billion baht.
SCB X has announced the discontinuation of its Robinhood app by July 31, 2024, stating the app's mission to support small businesses has been completed.
Despite the reduced competition, the market showed varied financial performance: Grab Taxi (Thailand) achieved a profit surge of 127% in 2023, while Line Man Wongnai and Foodpanda reported reduced losses.
Robinhood, on the other hand, saw increasing losses over the past three years.
Experts like Anantaporn Lapsakkarn and Yod Chinsupakul argue the market remains viable for existing major players but challenging for new entrants.
Over the past three years, significant losses were reported—20.7 billion baht—against revenues of 110 billion baht.
Leading companies like Grab Group, Foodpanda Group, Line Man Wongnai, and Robinhood reported combined revenues of 41.1 billion baht last year, though Foodpanda, Line Man Wongnai, and Robinhood faced a collective loss of 3.14 billion baht.
SCB X has announced the discontinuation of its Robinhood app by July 31, 2024, stating the app's mission to support small businesses has been completed.
Despite the reduced competition, the market showed varied financial performance: Grab Taxi (Thailand) achieved a profit surge of 127% in 2023, while Line Man Wongnai and Foodpanda reported reduced losses.
Robinhood, on the other hand, saw increasing losses over the past three years.
Experts like Anantaporn Lapsakkarn and Yod Chinsupakul argue the market remains viable for existing major players but challenging for new entrants.
