Food delivery firms tap new revenue streams as competition hots up

The food delivery sector in South-east Asia could grow to US$20 billion by 2025, almost four times its current US$5.2 billion, according to a report released this month by Google, Temasek Holdings and Bain & Company. ST PHOTO: LIM YAOHUI
The food delivery sector in South-east Asia could grow to US$20 billion by 2025, almost four times its current US$5.2 billion, according to a report released this month by Google, Temasek Holdings and Bain & Company.ST PHOTO: LIM YAOHUI

Singaporeans have developed a ravenous appetite for online food delivery, with riders now a common sight at restaurants and hawker centres around town and it is only going to get bigger from here.

Delivery firms told The Straits Times there is still room for growth - new customers are still being acquired while the tech-heads are constantly tackling the question of how they can boost consumers' order frequencies.

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A version of this article appeared in the print edition of The Straits Times on October 30, 2019, with the headline 'Online firms on a roll to feed big appetite for on-demand food'. Print Edition | Subscribe