Creative Destruction Runs Wild In Food Business – Analysis – Eurasia Review

According to Statista, the Thai market was worth US$280 million in July last year and has grown steadily over the past 12 months as Covid-19 has kept restaurant patrons at home. This emerging industry is dominated by Southeast Asian regional companies including Grab with 50 percent of the market, Foodpanda at 23 percent, LineMan at 20 percent, and Gojek at 7 percent.   

Despite the lack of profit,  these foreign-owned ventures are planning IPOs to cash in while the market is hot. Grabfood plans a Nasdaq listing…