CHAPTER 1 - MARKET SUMMARY
Market Overview
The Vietnam Online Food Delivery Market operates as a multi-sided digital ecosystem connecting consumers, restaurants, beverage outlets, couriers, payment providers and advertisers. Approximately 350 million completed orders were generated during 2025, making order frequency, restaurant selection, delivery radius, courier availability and basket conversion the principal determinants of platform GMV, customer retention and merchant economics.
Demand remains concentrated in Ho Chi Minh City and Hanoi, which together represented an estimated 77% of national platform GMV during 2025. Dense residential districts, office clusters, universities, organized restaurant supply and established motorcycle networks increase orders per courier hour. This concentration improves fulfillment economics but raises the cost and operational complexity of expansion into lower-density provincial markets.
Market Value
USD 2,100 million
2025
Dominant Region
Ho Chi Minh City
2025
Dominant Segment
Integrated Ordering and Delivery
fastest growing
Total Number of Players
10
Future Outlook
The Vietnam Online Food Delivery Market is projected to expand from USD 2,100 million in 2025 to USD 4,711 million by 2031. Historical growth of 29.0% during 2020-2025 reflected pandemic-era habit formation, rapid restaurant onboarding, increased smartphone usage and extensive promotional investment. Forecast growth moderates to a 14.4% CAGR during 2026-2031 as the market matures, but annual absolute additions remain significant. Expansion will depend on higher ordering frequency, beverage consumption, provincial coverage, digital payment conversion, subscription adoption and improved restaurant availability rather than customer acquisition subsidies alone.
Annual completed orders are forecast to rise from approximately 350 million in 2025 to 631 million by 2031, while blended average order value increases from USD 6.00 to USD 7.47. Platforms are expected to diversify monetization through merchant commissions, sponsored listings, loyalty memberships, corporate meal programs, payment services and restaurant software. Investors should evaluate contribution margin per order, courier utilization, merchant retention, delivery reliability and customer repeat rates alongside GMV. The base forecast assumes continued economic growth, disciplined competitive spending, gradual Tier 2 city expansion and effective implementation of new e-commerce compliance requirements.
14.4%
Forecast CAGR
$4,711 Mn
2030 Projection
Base Year
2025
Historical Period
2020-2025
Forecast Period
2026-2031
Historical CAGR
29.0%
CHAPTER 2 - SCOPE OF REPORT
Scope of the Market
CHAPTER 3 - Key Stakeholders
Key Target Audience
Key stakeholders who can leverage from this market analysis for investment, strategy, and operational planning.
Investors
GMV CAGR, contribution margin, concentration, scalability, exit risk
Corporates
merchant acquisition, advertising returns, commissions, partnerships, ordering frequency
Government
platform compliance, food safety, taxation, gig work, competition
Operators
courier density, delivery time, basket size, retention, batching
Financial institutions
payment volume, merchant finance, cash conversion, credit quality
CHAPTER 4 - Market Size & Growth
Market Size, Growth Forecast and Trends
This section evaluates the historical market size, analyzes year-over-year growth dynamics, and presents forecast projections supported by market performance indicators and demand-side drivers.
Historical & Projected Market Size ($ Million)
Year-over-Year Growth Rate (%)
Market Value vs Volume Growth (%)
Historical Market Performance (2020-2025)
Annual completed orders increased from approximately 131.9 million in 2020 to 350.0 million in 2025. The strongest annual value increase occurred in 2022 at 37.5%, supported by accelerated application adoption, merchant digitization and platform incentives. Growth moderated to 16.7% in 2025 as the market entered a more disciplined phase. The top-two platforms' combined GMV share rose from an estimated 82% in 2020 to 96% in 2025, demonstrating strengthening network effects and rising barriers for subscale competitors.
Forecast Market Outlook (2026-2031)
The market is forecast to achieve a 14.4% CAGR through 2031, reaching USD 4,711 million. Annual completed orders are projected to reach approximately 630.7 million, representing a 10.3% volume CAGR from 2025. Average order value is forecast to increase to USD 7.47 as premium restaurants, bundled beverages, group orders and corporate meals gain share. Forecast growth remains front-loaded, with annual value growth moderating from 16.0% in 2026 to 13.5% in 2031 as penetration rises and promotional intensity normalizes.
CHAPTER 5 - Market Data
Market Breakdown
The Vietnam Online Food Delivery Market is transitioning from promotion-led customer acquisition toward repeat ordering, merchant monetization, operational density and service reliability. The KPI trajectory clarifies how order volume, average order value and platform concentration shape long-term scalability, market-entry economics and investor returns.
Year | Market Size (USD Mn) | YoY Growth (%) | Estimated Orders (Mn) | Average Order Value (USD) | Top-Two Platform GMV Share (%) | Period |
|---|---|---|---|---|---|---|
| 2020 | $587 Mn | +- | 131.9 | 4.45 | Forecast | |
| 2021 | $800 Mn | +36.3% | 172.0 | 4.65 | Forecast | |
| 2022 | $1,100 Mn | +37.5% | 224.5 | 4.90 | Forecast | |
| 2023 | $1,430 Mn | +30.0% | 275.0 | 5.20 | Forecast | |
| 2024 | $1,800 Mn | +25.9% | 318.6 | 5.65 | Forecast | |
| 2025 | $2,100 Mn | +16.7% | 350.0 | 6.00 | Forecast | |
| 2026 | $2,436 Mn | +16.0% | 392.9 | 6.20 | Forecast | |
| 2027 | $2,801 Mn | +15.0% | 436.3 | 6.42 | Forecast | |
| 2028 | $3,208 Mn | +14.5% | 481.7 | 6.66 | Forecast | |
| 2029 | $3,657 Mn | +14.0% | 529.2 | 6.91 | Forecast | |
| 2030 | $4,150 Mn | +13.5% | 578.0 | 7.18 | Forecast | |
| 2031 | $4,711 Mn | +13.5% | 630.7 | 7.47 | Forecast |
Estimated Orders
350 million orders, 2025, Vietnam. Higher transaction density improves courier utilization and spreads platform technology costs over more completed orders. Beverage products represented an estimated one-quarter of platform orders, supporting repeatable, high-frequency demand and off-peak utilization.
Average Order Value
USD 6.00, 2025, Vietnam. Basket expansion supports GMV growth but must be balanced against consumer price sensitivity and restaurant affordability. Regional platforms continued to emphasize low-cost meals and bundled promotions during 2025, indicating that frequency remains more important than aggressive ticket inflation.
Top-Two Platform GMV Share
96%, 2025, Vietnam. Concentration strengthens courier density and restaurant coverage for market leaders while increasing merchant dependency and entry barriers. GrabFood and ShopeeFood each represented approximately 48% of national platform GMV after the withdrawal of Gojek from Vietnam.
CHAPTER 6 - Segmentation
Market Segmentation Framework
Comprehensive analysis across key dimensions providing insights into market structure, consumer preferences, and distribution patterns.
No of Segments
7
Dominant Segment
Solution Type
Fastest Growing Segment
Geography
Solution Type
Deployment Model
End-Use Industry
Enterprise Size
Application
Revenue Model
Geography
Key Segmentation Takeaways
Comprehensive analysis across all extracted segmentation dimensions providing insights into market structure, consumer preferences, and distribution patterns.
Solution Type
Integrated Ordering and Delivery dominates because consumers expect one application to provide restaurant discovery, promotions, payment, courier dispatch, tracking and issue resolution. Platform-controlled fulfillment produces richer demand data and more consistent service levels than merchant-only delivery. Platform courier fulfillment remains the leading Level-2 model, supporting route density, centralized customer support, loyalty integration and cross-service monetization.
Geography
Tier 2 and Emerging Cities represent the fastest-growing Level-2 opportunity as internet access, digital payments, restaurant chains and merchant digitization expand beyond Hanoi and Ho Chi Minh City. Lower order density initially constrains courier economics, but localized menus, smaller delivery zones, electric two-wheelers and merchant-assisted fulfillment can improve viability. Provincial capitals offer the strongest combination of population scale and manageable competitive intensity.
CHAPTER 7 - Regional Analysis
Regional Analysis
Vietnam ranked sixth among the six major Southeast Asian online food delivery markets during 2025, with USD 2.1 billion in platform GMV. Its market remains smaller than Indonesia, Thailand, the Philippines, Malaysia and Singapore, but 19% annual growth and strong digital-payment adoption indicate substantial long-term expansion potential.
Focus Country Ranking
6th
Focus Country Market Size
USD 2.1 Bn
Vietnam CAGR (2026-2031)
14.4%
Focus Country Ranking
6th
Focus Country Market Size
USD 2.1 Bn
Vietnam CAGR (2026-2031)
14.4%
Regional Analysis (Current Year)
Regional Analysis Comparison
Market Position
Vietnam ranked sixth by 2025 GMV at USD 2.1 billion, but its large consumer population creates a wider long-term penetration runway than smaller, higher-spending markets such as Singapore and Malaysia.
Growth Advantage
Vietnam's projected 14.4% CAGR exceeds the mature Singapore trajectory and is comparable with Thailand's high-growth market, positioning Vietnam as a scale challenger despite its lower current GMV base.
Competitive Strengths
Vietnam combines USD 178 billion in 2025 digital-payment GTV, dense two-wheeler mobility and 350 million annual delivery orders, supporting low-ticket transactions, rapid fulfillment and cross-service super-app economics.
CHAPTER 8 - INDUSTRY ANALYSIS
Growth Drivers, Market Challenges & Market Opportunities
Comprehensive analysis of key factors shaping the Vietnam Online Food Delivery Market, including growth catalysts, operational challenges, and emerging opportunities across production, distribution, and consumer segments.
Growth Drivers
Routine App-Based Meal Ordering
- Market value reached USD 2.1 billion (2025, Vietnam), creating sufficient transaction density for platforms to improve routing, restaurant selection and customer retention economics.
- Approximately 350 million completed orders (2025, Vietnam) spread fixed technology, support and payment-processing costs across a larger transaction base, benefiting scaled platforms and high-frequency merchants.
- Ho Chi Minh City and Hanoi represented an estimated 77% of platform GMV (2025, Vietnam), supporting high courier productivity and concentrated restaurant-acquisition programs.
Expansion of Digital Payments
- QR payment transaction volume increased 61.63% (first nine months of 2025, Vietnam), making low-ticket food orders easier to complete without cash handling or change-management delays.
- QR payment value increased 150.67% (first nine months of 2025, Vietnam), creating opportunities for wallet-funded promotions, automated refunds and data-driven customer segmentation.
- Non-cash payment transactions increased 43.32% by volume (first nine months of 2025, Vietnam), improving platform ability to connect ordering, payments, loyalty and merchant settlement.
Merchant and Platform Ecosystem Expansion
- Vietnam's transport and online food segment generated approximately USD 5 billion GMV (2025, Vietnam), enabling shared courier, mapping, payment and customer-acquisition infrastructure across super-app services.
- Vietnam's overall digital economy reached USD 39 billion GMV (2025, Vietnam), expanding the digitally addressable consumer and merchant base available to delivery platforms.
- Xanh SM Ngon's initial 2,000-plus merchant network (2025, Hanoi) indicates that domestic mobility fleets can use food delivery to increase vehicle utilization and ecosystem engagement.
Market Challenges
Extreme Platform Concentration
- GrabFood and ShopeeFood each held approximately 48% of national GMV (2025, Vietnam), giving both substantial influence over merchant visibility, promotions, commissions and customer access.
- Gojek exited Vietnam in September 2024, illustrating the difficulty of sustaining order density, courier liquidity and promotional spending without a leading market position.
- BAEMIN ceased Vietnamese operations in December 2023, demonstrating that brand awareness alone cannot offset weak cross-service monetization and high fulfillment costs.
Affordability and Unit-Economics Pressure
- Order volume grew faster than average basket values during much of 2020-2025, requiring platforms to improve batching, courier utilization and restaurant preparation performance rather than relying on ticket inflation.
- The market's 19% GMV growth (2025, Vietnam) was accompanied by continued affordability-focused promotions, placing pressure on customer-acquisition payback and merchant-funded discount budgets.
- Vietnam remained the smallest of six tracked Southeast Asian markets (2025), limiting short-term scale relative to Indonesia and Thailand for platforms allocating regional investment capital.
Rising Compliance and Data Obligations
- Platform operators must verify merchant identities before storefront activation under the 2025 E-Commerce Law (effective 2026, Vietnam), increasing onboarding and documentation requirements.
- The law applies to domestic and foreign entities (2026, Vietnam), requiring cross-border platforms to align local governance, complaint handling and merchant-verification processes.
- QR payment value growth of 150.67% (first nine months of 2025, Vietnam) increases fraud-monitoring, cybersecurity, refund-management and personal-data responsibilities for platforms.
Market Opportunities
Tier 2 City and Provincial Expansion
- Narrow delivery zones, localized restaurant curation and merchant-assisted fulfillment create monetizable expansion models where provincial order density remains below major-city levels.
- Domestic platforms, regional restaurant chains, payment providers and electric two-wheeler fleets benefit as provincial demand shifts from telephone ordering toward structured applications.
- Expansion requires localized courier supply, merchant onboarding, navigation data and affordable memberships rather than replicating capital-intensive metropolitan promotion strategies.
Merchant Advertising and Software Monetization
- Sponsored listings, campaign dashboards, demand forecasting and customer analytics allow platforms to earn recurring revenue beyond commissions and delivery fees.
- Restaurant chains, cloud kitchens and beverage brands benefit from measurable keyword placement, audience targeting, promotional attribution and localized demand intelligence.
- Merchant adoption depends on transparent campaign reporting, affordable entry packages and integration with restaurant point-of-sale and inventory systems.
Electric Delivery and Service Differentiation
- Electric fleets can monetize existing vehicle, charging, maintenance and dispatch infrastructure across mobility, food delivery and merchant-logistics demand periods.
- Restaurants and consumers benefit from lower local emissions, differentiated branding and potentially more predictable fleet quality than fully open courier networks.
- Commercial scale requires sufficient charging coverage, courier productivity, vehicle availability and restaurant density to offset higher fleet-management complexity.
CHAPTER 9 - Competitive Landscape
Competitive Landscape Overview
The consumer marketplace is highly concentrated, while expatriate ordering, merchant-managed fulfillment and enterprise meal delivery remain fragmented. Entry barriers include courier density, restaurant coverage, promotions, payment integration, mapping accuracy, service reliability and regulatory compliance.
Market Share Distribution
Top 5 Players
Market Dynamics
8 new entrants in the past 5 years, indicating strong market attractiveness and growth potential.
Company Name | Market Share | Headquarters | Founding Year | Core Market Focus |
|---|---|---|---|---|
GrabFood | 48% | Singapore | 2012 | Integrated food ordering, courier fulfillment, payments, loyalty and super-app services |
ShopeeFood | 48% | Singapore | 2021 | Food and beverage marketplace integrated with Shopee promotions and digital payments |
beFood | Below 4% | Ho Chi Minh City, Vietnam | 2018 | Domestic super-app food delivery, mobility, payments and personalized meal discovery |
Xanh SM Ngon | Not measurable | Hanoi, Vietnam | 2025 | Electric-vehicle food delivery with curated restaurant partnerships |
Loship | - | Ho Chi Minh City, Vietnam | 2017 | Local food, beverage and on-demand urban delivery marketplace |
Capichi | - | Hanoi, Vietnam | 2019 | Multilingual restaurant ordering and delivery for expatriate and urban consumers |
Ahamove | - | Ho Chi Minh City, Vietnam | 2015 | On-demand merchant logistics and restaurant-controlled fulfillment |
Lalamove Vietnam | - | Hong Kong | 2013 | On-demand merchant delivery supporting restaurants, caterers and food retailers |
MyGo | - | Hanoi, Vietnam | 2019 | Viettel Post-backed mobility and on-demand delivery services |
Delivery K | - | - | - | Restaurant discovery and food ordering for Korean and international consumers |
Cross Comparison Parameters
The report provides detailed cross-comparison of key players across 10 performance parameters to identify competitive strengths and weaknesses.
Average Delivery Time
Active Merchant Coverage
Food Delivery GMV Growth
Contribution Margin per Order
Analysis Covered
Market Share Analysis:
Compares platform GMV concentration and competitive position across national operators
Cross Comparison Matrix:
Benchmarks merchant coverage, fulfillment, monetization and geographic reach across platforms
SWOT Analysis:
Evaluates network strengths, operating weaknesses, growth opportunities and competitive threats
Pricing Strategy Analysis:
Assesses commissions, delivery fees, subscriptions, promotions and advertising structures
Company Profiles:
Reviews ownership, market focus, service portfolios, scale and strategic positioning
CHAPTER 10 - REPORT TOC
Table of Contents
Market Assessment Phase
Supply-side and competitive intelligence covering market sizing, segmentation, competitive dynamics, regulatory landscape, and future forecasts.
Go-To-Market Strategy Phase
15 chapters
Entry strategy evaluation, execution roadmap, partner recommendations, and profitability outlook.
Survey Phase
8 chapters
Demand-side primary research conducted through structured interviews and online surveys with end users across priority metros and Tier 2/3 cities to capture consumption behavior, unmet needs, and purchase drivers.
Complete Report Coverage
201+ detailed sections covering every aspect of the market
143
Assessment Sections
58
Strategy Sections
CHAPTER 11 - Our Approach
Research Methodology
Desk Research
- Reviewed national e-commerce policy publications
- Mapped platform GMV and shares
- Analyzed payment and internet indicators
- Benchmarked Southeast Asian delivery markets
Primary Research
- Interviewed platform strategy and operations heads
- Engaged restaurant digital commerce managers
- Consulted courier fleet and dispatch managers
- Surveyed consumers and corporate meal buyers
Validation and Triangulation
- Validated findings across 356 respondents
- Reconciled GMV, orders and baskets
- Cross-checked platform and merchant evidence
- Stress-tested market concentration assumptions
CHAPTER 12 - FAQ
FAQs
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