Core Viewpoint - The competition in the food delivery market is intensifying, with Meituan's CEO Liu Qiangdong publicly declaring war on Meituan through an open letter to delivery riders [2] Group 1: Meituan's Expansion Strategy - Meituan's brand Keeta entered the Hong Kong market in May 2023, achieving a market share of 36% by March 2024, competing with international giants Deliveroo and Foodpanda [3] - Following its success in Hong Kong, Keeta launched in Riyadh, Saudi Arabia, in October 2024, with plans to cover all major cities in Saudi Arabia by the end of 2025 [3][4] - Meituan's cautious approach to international expansion is evident, as it previously conducted extensive market research before entering Hong Kong and Saudi Arabia [6][8] Group 2: Competitive Landscape - Didi has restarted its food delivery business in Brazil after a previous exit, seen as a move to counter Meituan's expansion plans [4][5] - Meituan's potential entry into Brazil could reignite the fierce competition reminiscent of the 2018 food delivery war between Meituan and Didi [5][16] - The food delivery market in Latin America, particularly Brazil and Mexico, presents significant growth opportunities, with the market size growing from $7.497 billion in 2018 to $37.918 billion in 2023 [14] Group 3: Market Dynamics - The Middle East food delivery market is still developing, with a growth rate of over 20% post-pandemic, making it an attractive target for new entrants like Meituan [10] - In contrast, the North American market is dominated by established players like DoorDash and UberEats, making it challenging for new entrants to gain market share [11] - Meituan's strategy focuses on high-value, low-penetration markets, while Didi follows a model that integrates food delivery with its ride-hailing services [15] Group 4: Future Outlook - Meituan aims for its food delivery market scale to reach $100 billion, indicating ambitious growth plans in international markets [16] - The competitive dynamics between Meituan and Didi in Latin America could reshape the global food delivery landscape [17]