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Friday, May 10, 2024

Food delivery apps ripe for consolidation

Market value down 0.6% since last year

Grab Food delivery drivers deliver food ordered via the app in Bangkok. (Photo: Somchai Poomlard)

Food delivery and ride-hailing platform operators are expanding their businesses amid a stagnant economy, mainly through mergers and acquisitions, cross-platform collaborations, and planned initial public offerings (IPOs).

According to Kasikorn Research Centre, this year the market value of the food delivery business is estimated to be 86 billion baht, down 0.6% from 2022.

Average spending on food delivery per order is expected to…

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