Reference
·Primary source
LMWN-GrabFood post-Foodpanda duopoly share
~92-95%
Following Foodpanda Thailand's announced 2025 exit (Delivery Hero Asia rationalisation) and Robinhood's 2024 wind-down by SCB X, LINE MAN Wongnai (LMWN) and GrabFood now account for an estimated 92-95 percent of Thai food-delivery GMV in 2025, hardening a duopoly across a market of approximately THB 75-90 billion annual GMV. LMWN closed a USD 265M Series B in September 2022 led by BRV Capital, GIC, and Line Corp, becoming Thailand's first food-tech unicorn. GrabFood operates inside Grab Holdings (NASDAQ:GRAB). The duopoly enables platform-commission discipline at 25-30 percent of order value, which compresses chained-restaurant operating margins and accelerates chain investment in first-party apps (1112 Delivery, McThai app, KFC TH app).
Figure in context
Following Foodpanda Thailand's announced 2025 exit (Delivery Hero Asia rationalisation) and Robinhood's 2024 wind-down by SCB X, LINE MAN Wongnai (LMWN) and GrabFood now account for an estimated 92-95 percent of Thai food-delivery GMV in 2025, hardening a duopoly across a market of approximately THB 75-90 billion annual GMV. LMWN closed a USD 265M Series B in September 2022 led by BRV Capital, GIC, and Line Corp, becoming Thailand's first food-tech unicorn. GrabFood operates inside Grab Holdings (NASDAQ:GRAB). The duopoly enables platform-commission discipline at 25-30 percent of order value, which compresses chained-restaurant operating margins and accelerates chain investment in first-party apps (1112 Delivery, McThai app, KFC TH app).
Following Foodpanda Thailand's announced 2025 exit (Delivery Hero Asia rationalisation) and Robinhood's 2024 wind-down by SCB X, LINE MAN Wongnai (LMWN) and GrabFood now account for an estimated 92-95 percent of Thai food-delivery GMV in 2025, hardening a duopoly across a market of approximately THB 75-90 billion annual GMV. LMWN closed a USD 265M Series B in September 2022 led by BRV Capital, GIC, and Line Corp, becoming Thailand's first food-tech unicorn. GrabFood operates inside Grab Holdings (NASDAQ:GRAB). The duopoly enables platform-commission discipline at 25-30 percent of order value, which compresses chained-restaurant operating margins and accelerates chain investment in first-party apps (1112 Delivery, McThai app, KFC TH app).
Time scope
2025 post-exit
Source basis
Primary source
Interpretation notes
What this tells you
Following Foodpanda Thailand's announced 2025 exit (Delivery Hero Asia rationalisation) and Robinhood's 2024 wind-down by SCB X, LINE MAN Wongnai (LMWN) and GrabFood now account for an estimated 92-95 percent of Thai food-delivery GMV in 2025, hardening a duopoly across a market of approximately THB 75-90 billion annual GMV. LMWN closed a USD 265M Series B in September 2022 led by BRV Capital, GIC, and Line Corp, becoming Thailand's first food-tech unicorn. GrabFood operates inside Grab Holdings (NASDAQ:GRAB). The duopoly enables platform-commission discipline at 25-30 percent of order value, which compresses chained-restaurant operating margins and accelerates chain investment in first-party apps (1112 Delivery, McThai app, KFC TH app).
What not to do with it
Use the linked report for interpretation and keep basis differences explicit.
Related figures
Adjacent numbers that add context without drowning the value.
Thailand food-service total revenue (2020-2024)
SCB EIC Food Service Outlook, Krungsri Research Restaurant Industry, National Statistical Office Food Service Establishment Survey
Thailand chained restaurant and QSR segment revenue (2020-2024)
SCB EIC, Krungsri Research, MINT, CRG
Minor Food (MINT) segment revenue (2020-2024)
Minor International 56-1 annual filing, MINT investor relations, SET disclosures
Central Restaurants Group (CRG) revenue (FY2024)
Central Retail Corporation 56-1, CRG operating disclosures, Yum Brands Thailand market commentary
Thailand chained restaurant format mix (FY2024)
SCB EIC Food Service, Krungsri Research, Listed operator 56-1 segment disclosures
7-Eleven ready-to-eat QSR substitution share
CP All 56-1 annual filing, CPF commissary disclosures, SCB EIC convenience-store coverage, Krungsri Research
Report context
Atlas actors in this figure's reports
Profiles covered in the report that cite this number.