Foodpanda, the Asia-based food delivery platform operated by German company Delivery Hero, will cease operations in Thailand on 23 May, according to a recent report by Reuters.

"Delivery Hero will continue concentrating efforts in other parts of APAC (Asia-Pacific) where the group sees greater return," the firm said on Wednesday, reports Reuters. The company's regional team, which is based in Thailand, will continue operations as usual, the company said.

According to Singapore-based research firm Momentum Works, Thailand's food delivery market was valued at US $4.2 billion in 2024. Grab currently leads with a 46% market share, followed by Line Man Wongnai with 40%, ShopeeFood with 7%, Foodpanda with 5%, and Robinhood with 2%.

Business analytics firm Creden Data reported that Delivery Hero (Thailand) Co Ltd recorded an accumulated net loss of 13.8 billion baht between 2014 and 2023. Although the company reduced its losses in 2023 to 522 million baht from 3.2 billion baht the previous year, it has never posted a profit since its establishment 13 years ago, according to a recent report by Bangkok Post.

Delivery Hero's withdrawal from Thailand follows similar exits from Denmark, Ghana, Slovakia, and Slovenia, as the company seeks to optimise its global operations.