Publication Date: 07 May 2024
This report, issued by the Research Department of Teaser Platform, analyzes the financial performance of 50 food delivery companies in the Middle East and North African region for the past 3 years.
The methodology employed in the preparation of this report involves a focused approach on analyzing the financial performance of Food Delivery applications and companies. Geographically, our primary focus lies within the MENA region, ensuring a targeted analysis of companies domiciled in this region.
Key Takeaways
- The MENA region Food Delivery Companies have doubled their Net Profit in 2023 generating USD 680 Million, a 120% increase on YoY basis.
- United Arab Emirates food delivery companies net profits accounted for 45% of the MENA region total equaling USD 308 Million in 2023. Delivery Hero in UAE alone generated USD 164 Million.
- Bahrain food delivery companies net profits accounted for 23% of the MENA region total equaling USD 160 Million in 2023. Delivery Hero Talabat in Bahrain alone generated USD 145 Million.
- Kuwait food delivery companies net profits accounted for 13% of the MENA region total equaling USD 89 Million in 2023.Talabat in Kuwait alone generated USD 87 Million.
- Saudi Arabia food delivery companies net profits accounted for 10% of the MENA region total equaling USD 74 Million in 2023. HungerStation and Jahez achieved net profits of USD 42 Million and USD 31 Million, respectively.
- Qatar food delivery companies net profits accounted for 6% of the MENA region total equaling USD 41 Million in 2023. Talabat in Qatar alone generated USD 41 Million.
- Talabat group emerged as the top market player in Bahrain, Kuwait, and Qatar, reporting a combined net profit of USD 273 Million in these three countries alone.
- HungerStation, a leading operator in the UAE and KSA, achieved an aggregated net profits of USD 167 Million from both markets.
- Jahez, the Saudi food delivery company, reported USD 31 Million in net profit in 2023, an increase of 110% from 2022, forming 42% of the Saudi food delivery net profit in 2023.
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