East Asia food delivery market hits $38.6b in 2025 as competition intensifies

Korea is now world's third-largest delivery market.

East Asia's food delivery platform market reached an estimated $38.6b in gross merchandise value (GMV) in 2025, according to Momentum Works.

The Food Delivery Platforms in East Asia 2026 report, which covers Hong Kong, Taiwan, South Korea and Japan, found that South Korea accounted for approximately 73% of the region's GMV.

South Korea's food delivery market reached an estimated $28b in 2025, with penetration exceeding 20% of the country's total foodservice market.

The market is now the third-largest food delivery market globally by GMV, surpassing Southeast Asia's combined market of $22.7b and four times the size of India's $7b market.

Japan, despite having more than twice South Korea's population, recorded food delivery penetration of below 3%.

Taiwan's penetration reached 10.5%, whilst Hong Kong continued to grow following intensified competition.

The report attributed the wide differences in market penetration to operator strategy rather than market readiness, noting that growth depends on the willingness and capability of platforms to expand demand.

Competition continued to reshape all four markets in 2025.

In Hong Kong, Keeta became the market leader with an estimated 53% share, growing the overall market following Deliveroo's exit in April 2025.

In South Korea, Baemin remained the largest platform with an estimated 58% market share, whilst Coupang Eats increased its share to 35%.

Taiwan remained a duopoly, with foodpanda holding 53% market share and Uber Eats at 44%.

The report noted that Grab's proposed acquisition of foodpanda Taiwan could reshape competition in the market.

Japan remained dominated by Uber Eats (65%) and Demae-can (27%), whilst Coupang's Rocket Now, launched in January 2025, emerged as a new competitor.

The report also highlighted Delivery Hero's retreat from East Asia.

The Berlin-based company has exited Japan, agreed to sell foodpanda Taiwan to Grab, and is seeking a buyer for Woowa Brothers, the operator of Baemin.

In Hong Kong, foodpanda has lost its market-leading position to Keeta, whilst Baemin faces growing pressure from Coupang Eats in South Korea.