MENA food delivery companies have experienced remarkable growth, with net profits reaching USD 310 million in 2022. This represents a 36% increase from the previous year, showcasing the industry’s continuous expansion and success.
In 2020, 14 food delivery companies reported net profits of USD 140 million, while 27 companies faced aggregated losses of USD -109 million. The following year, net profits rose by 62%, reaching USD 227 million among 15 companies, while 34 companies reported aggregated losses of USD -401 million.
2022 witnessed further growth, as net profits increased by 36% to USD 310 million. Although 13 food delivery companies achieved profitability, 37 companies still faced aggregated losses of USD -355 million, reflecting the competitive landscape of the industry.
Among the MENA countries, The Kingdom of Bahrain led in profitability, with three companies generating USD 94 million in net profit. Kuwait, Saudi Arabia, and Qatar each had two profitable companies, with total net profits of USD 83 million, USD 72 million, and USD 40 million respectively. The United Arab Emirates had three profitable companies, recording USD 19 million in net profit, while Egypt had one profitable company generating USD 10 thousand in net profit.
These figures underscore the potential of the MENA food delivery industry. With increasing consumer demand for convenient and efficient services, companies are seizing opportunities to expand and optimize profitability. Technological advancements, strategic partnerships, and customer-centric approaches will play crucial roles in sustaining the growth and success of the MENA food delivery sector.
Overall, the MENA food delivery industry’s growth trajectory is impressive, as demonstrated by the USD 310 million in net profits achieved in 2022. As the sector continues to evolve, companies must remain innovative and adaptable to meet the changing needs of consumers. With a focus on delivering exceptional service, the industry is poised for further expansion and will contribute to employment and economic growth in the MENA region.