# Food delivery and ride-hailing sales hits $5bn in H1 

- Link: https://www.thailand-business-news.com/lifestyle/163483-food-delivery-and-ride-hailing-sales-hits-5bn-in-h1
- Published: 2024-09-20T10:38:00+07:00
- Author: J. Allan

The first half of 2024 has been a remarkable period for Thailand’s online food delivery
and ride-hailing services, with the combined gross merchandise value (GMV) hitting
an impressive US$5 billion. This milestone is a testament to the country’s rapid
digital transformation and the growing consumer demand for convenience and efficiency.

## Key takeaways

 * Thailand is showing significant growth in different markets like the online food
   delivery and transportation market segments.
 * During the first half of the year, the market was divided with Line Man holding
   a 44% market share, followed by Grab (40%), ShopeeFood (10%),
 * In 2024, the Thai food service market is estimated to reach a value of $32.85
   billion, with a projected growth to $47.79 billion by 2029

According to data provided by Redseer Strategy Consultants, the combined gross merchandise
value (GMV) of these industries will have reached $5 billion during the first half
of 2024.

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Both markets are expected to achieve double-digit growth over the next five years,
driven by strong demand among digital consumers and the availability of a larger
number of drivers.

During the first half of the year, the market was divided with Line Man holding 
a 44% market share, followed by Grab (40%), ShopeeFood (10%), and others, including
Foodpanda and Robinhood (6%).

Redseer explained that the growth of these industries is driven by user demand, 
thanks to urbanization, changing lifestyles and healthy/multicuisine food options
delivered quickly and conveniently.

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Thailand has a wide variety of offerings for the food stall market segment, with
52% of the total food and beverage outlets, including street stalls and kiosks in
2023, second only to Singapore with 78%.

## The evolution of the online food delivery and transportation industries in Thailand

The online food delivery industry in Thailand has experienced significant growth
in recent years, driven by urbanization, internet penetration, and changing consumption
habits.

In 2024, the Thai food service market is estimated to reach a value of $32.85 billion,
with a projected growth to $47.79 billion by 2029. This growth is largely due to
the popularity of food delivery apps like GrabFood and Foodpanda, which have made
a wide variety of culinary options accessible from the comfort of home.

The rise of veganism and vegetarianism has also influenced market expansion, with
an increase in plant-based menu offerings. Quick-service restaurants.

On the other hand, the transportation and logistics industry in Thailand has also
shown notable development. In 2024, the transportation and logistics market is estimated
to reach a value of $88.10 billion, with a projected growth to $119.26 billion by
2029. This growth is driven by urbanization and the need to improve transportation
infrastructure to meet growing demand.