A survey by U.S.-based market researcher NielsenIQ on online food ordering platforms in Vietnam revealed that ShopeeFood leads with a 56% market share, followed by GrabFood at 36%.

BeFood, operated by Be, holds the third position.

NielsenIQ based these figures on orders placed over a seven-day period during a consumer survey in April.

A another survey by Decision Lab, an online market research firm, conducted in Hanoi, Da Nang, and HCMC, confirmed similar findings.

ShopeeFood and GrabFood together hold approximately 90% of the market in Hanoi and HCMC, while nearly dominating Da Nang’s market.

In Hanoi, ShopeeFood leads with a 56% market share, whereas GrabFood commands 50% in HCMC.

HCMC is also where BeFood performs strongest, securing an 11% market share compared to 9% in Hanoi.

Decision Lab’s data comes from interviews with around 1,000 consumers about food and drink orders placed via apps in the two days prior to the survey.

The researcher said that ShopeeFood users typically favor items like milk tea, fast food, and snacks, while GrabFood customers prefer full meals, including rice, seafood, healthy foods, juices, and coffee.

These preferences align with age demographics: ShopeeFood is popular among 16–24-year-olds, while GrabFood excels among those 35 and older.

The “e-Conomy 2024” report by Google, Temasek, and Bain & Company states that Vietnam’s ride-hailing and food delivery market reached $4 billion last year, a 12% increase from 2023, with projections to grow to $9 billion by 2030.

Additionally, Statista, a German online data platform, estimates Vietnam’s online food delivery market at nearly $2.8 billion this year, with an annual growth rate of 9.34% through 2030, potentially reaching $4.4 billion by the decade’s end.

Statista attributes the market’s rapid growth to widespread smartphone penetration, busy lifestyles, and a preference for convenient dining.

The market has seen intense competition over the past three years.

In 2023, six platforms operated in the space: ShopeeFood, GrabFood, beFood, GoFood, Baemin, and Loship.

However, Baemin ceased operations in Vietnam in December 2023, Gojek exited in September 2024, eliminating GoFood, and local platform Loship also shut down late last year.

The dominant market share of ShopeeFood and GrabFood may face changes with the entry of Xanh SM, a company tied to Vietnam’s richest man Pham Nhat Vuong.

Last month, Xanh SM launched its food delivery service, Xanh SM Ngon, featuring over 2,000 curated restaurants in Hanoi, with plans for nationwide expansion.

Both ShopeeFood and GrabFood are utilizing artificial intelligence (AI) to enhance restaurant partners’ sales through optimized marketing and innovative features.

GrabFood offers group ordering, solo dining solutions, and in-store dining vouchers, while ShopeeFood employs AI for affiliate marketing and livestreams to stimulate demand.

Nguyen Hoai Anh, a ShopeeFood representative, said, “We will strengthen AI applications to better understand and assess users’ preferences, needs, and daily dining habits.”

She added that the food delivery market presents both opportunities and challenges, requiring platforms to continuously innovate by expanding partnerships, optimizing technology, and improving customer experiences.