Foodpanda exits Thailand
The company will continue operating until May 23, 2025, and then withdraw from the Thai market. The official reason for this is stated as: “current market dynamics no longer support the long-term strategy.”
The parent company of FoodPanda – Delivery Hero, which is based in Berlin, has been reducing operations in the Asia-Pacific region since 2023 in order to “become more economical and flexible.” There is also an opinion that the company simply could not withstand intense competition and financial losses. FoodPanda had 23% of the market, while its main competitor – the Grab service – had 50%. In 2023, FoodPanda reported losses of 522 million baht.
For FoodPanda users, this means that after May 23 all service vouchers will expire, and paid and refundable subscriptions will be compensated proportionally.
FoodPanda was one of the most popular food delivery services in Thailand. The company had been operating in the Thai market since 2012. Meanwhile, in neighboring countries, specifically Vietnam and the Philippines, FoodPanda still remains.
Most likely, FoodPanda’s exit from the Thai market will strengthen other players – primarily, the Grab service. You can read more about it and other useful applications that might come in handy for you in Phuket here.
On April 28, information appeared online that FoodPanda might remain in Thailand under new ownership. Thai company Yip In Tsoi is interested in buying the business, but no official statements have been made yet.
According to Momentum Works, the total Thai food delivery market in 2024 was 4.2 billion baht. 46% of the volume belongs to Grab, 40% to LINE MAN Wongnai, 7% to ShoppeeFood, 5% to FoodPanda, and 2% to Robinhood.
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