Vietnamese companies vie for online food delivery market

In October, beFood – the food delivery service, launched its “Personalised Food Collection” feature, aiming to transform repetitive daily food ordering into a more engaging and novel experience for users.

According to statistics from beFood, BE has over 200 million app downloads, with one in four users on the platform browsing beFood for meal suggestions, from breakfast to dinner.

However, a Nielsen report revealed that over 77 per cent of users struggle with deciding what to eat or must rely on recommendations from friends, colleagues, or online reviews, making ordering a time-consuming and monotonous process.

An IMARC Group report highlights that customer decisions are significantly influenced by convenience, including prompt ordering and delivery experiences, in addition to food quality.

With this new launch, beFood aims to go beyond mere food delivery, fostering a community that helps users easily choose meals while turning mealtime into a way to connect with the larger food lovers community. The new feature empowers food lovers to stay ahead of trends and share their personal collections with loved ones.

According to Statista, Vietnam's online food delivery market is projected to generate a revenue of $2.37 billion by 2024. It is expected to experience an annual growth rate from 2024-2029 of 11.15 per cent, resulting in a projected market value of $4.02 billion by 2029.

GrabFood is the leading food delivery service in Vietnam, while ShopeeFood follows closely as the second most popular food delivery platform in the country. beFood is the only Vietnamese online food delivery among the top three for market share.

Despite ample potential, foreign players like GoJek's GoFood and Beamin have also withdrawn from the online food delivery market, leaving room for other players.

AhaMove under Vietnam-based logistics company Scommerce has also made its comeback in the online food delivery market. Six years ago, its parent company Scommerce unveiled the Lala food delivery app to capitalise on the booming market. However, due to fierce competition, Lala shut down after a year.

With the comeback, Ahamove integrates an AI virtual assistant into the restaurant partner's Facebook page, thereby automatically supporting the entire ordering process of users, including sending menus, consulting dishes, getting an address or phone number, and calculating the total order value.

After the user confirms the order, the system will notify the restaurant to prepare the dish and coordinate the Ahamove driver to deliver the food. Ahamove estimates that the consultation process takes place in 2 minutes and the delivery takes about 15 minutes.

Currently, AhaFood has been deployed across 500 restaurants in Danang and is being piloted in Hanoi and Ho Chi Minh City.

Food delivery firm Baemin bids farewell to Vietnam Baemin, the South Korean food delivery firm, has announced its departure from the Vietnamese market, effective from December 8.

Ride-hailing company Gojek to exit Vietnam Gojek, the on-demand, multiservice mobile platform, will close its Vietnam business effective September 16, according to an announcement made by its parent company GoTo Group on September 4.

Ride-hailing companies gear up for the green transition Ride-hailing companies are taking on the green transition in order to increase competitive capacity.