In February 2026, China's largest food delivery company,Meituan (Meituan),established a corporation in Vietnam. The company name is Meituan Technology Co., Ltd., established in Ho Chi Minh City. From March it began recruiting for business development roles, steadily preparing for a full-scale entry into the Vietnamese market (source: VnExpress, March 2026).
Vietnam's food delivery market is currentlyGrabFood(Singapore-based) andShopeeFood(under the Tencent-affiliated Sea Group), a virtual duopoly of these two. The move by China's largest player to storm in carries meaning beyond a mere "single company's market entry." This piece decodes Meituan's entry strategy and its background, and analyzes the impact on Japanese food-service and food companies operating in Vietnam.
Why is Meituan going south to Vietnam now?
Behind Meituan's search for overseas expansion is the saturation of the Chinese domestic market. China's food delivery market has seen its growth rate slow from around 2023 to 2024. As penetration rises, profit margins are squeezed by competition with Alibaba-affiliated "Ele.me." Amid this, what Meituan has set its sights on as a growth driver isSoutheast Asia.that lets you recreate the authentic taste even after returning home.
Vietnam in particular is attractive as an entry point from the following perspectives.
- Population and age structure: A population of about 98 million and a young median age of 31. Smartphone penetration exceeds 85% in urban areas, with high affinity for food delivery
- Market size and growth rate: Vietnam's food delivery market was about 1.4 billion dollars as of 2025 (source: Statista, 2025). Growth of 12 to 15% a year continues, with over 2.5 billion dollars expected by 2030
- Competitors' weaknesses: GrabFood has a high commission rate with large dissatisfaction on the restaurant side, and ShopeeFood holds users through price competition but hasn't differentiated on service quality. There's room to cut in between the two on "quality x speed x price"
- Cultural and geographical proximity to China: Vietnam shares a land border with China and is strongly influenced by the Chinese-character cultural sphere. There's fertile ground for Chinese companies to secure operations personnel
The success of Mixue "opened the way": the trajectory of Chinese F&B brands that came first
In considering Meituan's entry, you can't ignore the context of the recent "Chinese F&B brand invasion of Vietnam."
The Chinese tea-drink chainMixue (MIXUE)expanded rapidly in Vietnam from around 2023, growing to operate1,304 stores,centered on Ho Chi Minh City and Hanoi, as of the end of 2025 (see related article). At a price band of 30,000 to 50,000 Vietnamese dong a cup (about 175 to 290 yen), it achieves "cheap and tasty" even by local standards, winning overwhelming support centered on Gen Z.
What this success shows isa proven case that "Chinese companies can expand at scale in Vietnam."With MIXUE going first, the "learning cost" about the local regulatory environment, consumer psychology, and operational challenges has dropped. Meituan is in a position to draw on this precedent to build a more precise entry plan.
The current state of GrabFood and ShopeeFood: the blind spots of the "big two"
We need to analyze the "current rulers" of the market Meituan is trying to enter.
GrabFood（Grab）is a Singapore-born super app, running a platform in Vietnam that integrates ride-hailing, food delivery, and payments. Its food delivery market share is put at about 45 to 50% (source: Momentum Works, 2025). Its strengths are "high brand recognition" and "app UX," but its weakness is that its commission rate to restaurants is around 30%, high, and dissatisfaction from small and mid-size eateries is accumulating.
ShopeeFoodleverages the integration synergy with Shopee, Sea Group's e-commerce arm, going on the offensive especially in price competition. It expanded its share through large-scale subsidy campaigns from 2021 to 2023, but retention has become a challenge after scaling back subsidies.
These "big two" share a common blind spot. That isthe limit of their control over "food quality management."Both are platform models, and food quality depends on partner restaurants. Complaints about delivery delays and order mistakes are also common, and user satisfaction remains a challenge. What Meituan cultivated in China is precisely the "operational optimization technology" that solves this problem.
Meituan's "weapons": technology and operations honed in China
Organizing the competitive advantages Meituan cultivated within China reveals its potential strengths in Vietnam.
1. Delivery optimization algorithm: Meituan has its own delivery-route optimization system called "beehive dispatch." This algorithm, trained on billions of data points in China's big cities, simultaneously shortens delivery time and cuts delivery cost. Even in cities with severe traffic congestion like Ho Chi Minh City and Hanoi, this AI may show its strength.
2. Restaurant partnership know-how: Meituan has contracts with over 8 million eateries in China, building an "ecosystem" that even handles restaurant digitalization support (POS systems, inventory management, order forecasting). It can lock in small-scale Vietnamese eatery owners too, drawing on this know-how.
3. Financial strength: Meituan is a giant company with a market cap exceeding 100 billion dollars. It has the stamina to go after share even at a loss through price competition in the early stage of market entry. In fact, during its rise in China too, it dominated the market after a war of attrition with Grab.
"Scenario forecasts" if competition in Vietnam's food delivery market intensifies
If Meituan enters in earnest, how will Vietnam's food delivery market change? We posit three scenarios.
Scenario A: intensified price competition (short term: 2026 to 2027)
A scenario where Meituan pours in subsidized delivery-fee cuts and discount coupons en masse, prioritizing user acquisition first. This is the same strategy Grab and ShopeeFood took at the start of their entry; consumers benefit, but the platform's bargaining power over restaurants increases. For Japanese eateries, while there's the benefit of "delivery costs going down," there's the risk of increasing dependence on the platform.
Scenario B: differentiation competition (medium term: 2027 to 2029)
A scenario where, after the three companies stand side by side, they shift to differentiation competition on "speed," "quality," and "specific categories." GrabFood may establish its position on "super-app convenience," ShopeeFood on "low prices," and Meituan on "AI-driven optimal delivery quality." At this stage, moves by each platform to sign exclusive contracts with specific restaurants could also arise.
Scenario C: consolidation through M&A (long term: 2029 onward)
As seen in examples from other Southeast Asian countries (Thailand, Indonesia), a scenario where, after three or four companies compete, one or two with weaker financial strength withdraw or reach M&A. ShopeeFood may find it difficult to continue competing depending on the financial condition of Sea Group's parent company.
Concrete implications for Japanese food-service chains and food companies
We organize the impact this Meituan entry into Vietnam gives Japanese companies, and the actions they should take.
1. The importance of a simultaneous multi-platform listing strategy
Japanese eateries that depend solely on GrabFood should consider expanding to multiple platforms right away. If Meituan enters, intensified competition could lead each platform to ask eateries for "their own differentiated menus" and "exclusive coupons." By listing on multiple platforms simultaneously, you can maximize both bargaining power and exposure.
2. Getting ahead on Meituan's "Japanese food position"
Before Meituan begins full-scale expansion in Vietnam, contracting as an early adopter of the platform is a chance to secure a favorable commission rate and priority slots for "recommended listings." It overlaps with the timing of rising Japanese brand presence in Vietnam, following Takashimaya's Hanoi opening (2026).
3. B2B ingredient supply opportunity: expanding cloud kitchen demand
As competition intensifies, platforms tend to increase investment in cloud kitchens (as proven in China). If cloud kitchens increase in Vietnam, B2B demand for Japanese seasonings, sauces, and frozen foods will rise. In particular, "Japanese-taste" menus could gain a competitive edge at cloud kitchens serving Ho Chi Minh City's affluent.
4. Early collaboration with local partners
When Meituan launches operations in Vietnam, it will surely seek partnerships with local food companies and ingredient suppliers. By Japanese companies raising their hand as partners at this stage, early integration into the Meituan ecosystem becomes possible.
5. Brick-and-mortar chains are crossing borders at the same time
In parallel with the delivery space, Japanese restaurant chains are accelerating their move into physical stores. The conveyor-belt sushi chainOn July 30, 2026, Hama Sushi opened its first Vietnam store — its second country in Southeast Asia — at AEON Mall Tan Phu Celadon in Ho Chi Minh Cityis one example. Opening stores that draw mall shoppers with low prices starting in the 20,000-dong range per plate connects directly to the point raised here—how to differentiate through the in-store experience in the delivery age.
Summary: the "era of the big three" opens a new door for Japanese companies
Meituan's entry into Vietnam will become a catalyst transforming Vietnam's food delivery market into a more mature "field of competition." If the stronghold of the "GrabFood and ShopeeFood duopoly" crumbles, bargaining power will rise for small and mid-size eateries, and choices and service quality will improve for consumers.
On the other hand, challenges also arise, such as fluctuations in commission rates from intensified competition, the risk of platform dependence, and issues of data sovereignty. For Japanese food-service chains and food makers, it's important to take a view that harnesses this change not as a "threat" but as a "chance to stake out a position."
Now that Meituan has begun recruiting is the best timing to rethink your food delivery strategy in the Vietnamese market.
Reference information
- VnExpress: China food delivery giant Meituan set for Vietnam entry (March 2026)
- The shock of Mixue's 1,304 stores: with the Chinese F&B brand invasion of Vietnam at hand, Japanese food companies are tested on "speed" and "localization"
- Takashimaya's first Hanoi store in 2026: bringing Japanese quality to northern Vietnam
