智通财经网·2026-02-25 06:21Core Viewpoint - The report from CICC highlights the entry of Didi's 99Food and Meituan's Keeta into the Brazilian food delivery market, challenging the dominance of local player iFood and indicating a potential price war that could enhance market penetration [1] Market Overview - The Brazilian food delivery market is projected to grow from USD 18.7 billion in 2024 to USD 33.3 billion by 2028, with penetration rates expected to increase from 18.7% to 28.5% [1] Competitive Strategies - 99Food leverages synergies from transportation capabilities, low commissions, and rapid merchant onboarding to penetrate the market, while Keeta utilizes refined operational capabilities, replicating its operational experience from China, Hong Kong, and the Middle East [1] Profitability Outlook - The sustainable profitability of these platforms remains to be observed, but there is optimism that Chinese internet companies can capture a significant market share through their refined operational experiences [1]