Meituan’s KeeTa app leads Hong Kong’s food delivery market by order volume in March quarter, surpassing rival Foodpanda

Chinese on-demand local services giant Meituan gained early success in its initial foray outside mainland China, as its KeeTa app this year became the largest food-delivery platform by number of orders in Hong Kong.

In the first quarter, KeeTa seized a 43 per cent share of Hong Kong’s food delivery market by number of orders to surpass for the first time Foodpanda, which had a 37 per cent share in the same period, according to data published on Tuesday by local analytics firm Measurable AI.

That followed KeeTa unseating Deliveroo as Hong Kong’s second-largest food delivery player by order volume in November, several months after Meituan launched the app in the city in May last year.

The latest milestone achieved by KeeTa shows how Meituan’s first foray outside mainland China has started to pay off, as the company last year saw local consumption recover in its home market amid increased competition.

Meituan reported a 25.8 per cent jump in 2023 revenue to 276.7 billion yuan (US$38.29 billion), despite ByteDance-owned Douyin’s aggressive push into the mainland’s food delivery market.