A recent report from Teaser’s research department shed light on the financial performance of the food delivery sector across the Middle East and North Africa, revealing a clear lead for companies based in the UAE.
According to the findings, four food delivery firms in the UAE collectively generated net profits of $290 million, making it the most profitable market in the region.
Kuwait followed with three companies reporting net profits totaling $137 million, while Saudi Arabia’s three leading firms earned $108 million, reports Al-Rai daily.
In Qatar, two companies posted a combined profit of $48 million. Bahrain’s three companies recorded net profits of $23 million, and Oman’s two companies reported a total of $12 million.
Among the standout performers, Delivery Hero emerged as the most profitable food delivery company in the UAE, with net earnings of $290 million.
In Kuwait, Talabat led the market with impressive profits of $134 million. Saudi Arabia’s two largest platforms, HungerStation and Jahez, generated net profits of $57 million and $49 million, respectively.
Talabat also dominated in smaller markets, topping the food delivery sector in Qatar, Bahrain, and Oman with a combined net profit of $77 million.
The report analyzed data from 58 food delivery companies operating in the region, tracking performance trends over the past several years. In 2022, 13 profitable companies posted a total of $310 million in net earnings, while 37 others accumulated combined losses of $355 million.
The following year, 2023, showed a significant rebound. Profits surged by 120% to reach $680 million across 19 companies, while losses dropped sharply, with 26 firms recording combined losses of $121 million.
However, 2024 brought a slight decline. Net profits across 17 companies dipped by 9% to $620 million, while losses also decreased, with 20 companies reporting a total of $79 million in losses.
These figures underscore a maturing sector that, while still competitive and evolving, is beginning to consolidate profitability — especially in key markets like the UAE, Kuwait, and Saudi Arabia.
