(Entertainment-NewsWire.com, April 22, 2021 ) India online food delivery industry is going through a revolutionary phase. In recent years, this market has shown huge prospects and attracted heavy investments. After the US$ 250 Million new investment Zomato valuation was of US$ 5.4 Billion, up from US$ 3.9 Billion in December last year. Similarly its rival Swiggy is in advanced stages of talks with SoftBank to invest up to US$ 450 Million into food delivery startup, which will peg its valuation to US$ 5 Billion. This is one of the few industries which are growing with double digit CAGR. According to Renub Research, India Online Food Delivery Market will be US$ 21.41 Billion by 2026.
Online food delivery is the system in which customers can order food and receive desired food products at the doorstep. It involves software that allows restaurants to accept and manage orders placed over the internet. Indian customers have the option to choose from a wide variety of cuisine’s options of different restaurants while browsing the website sitting at home. In India, market players are mainly concentrated in the country's urban regions like Mumbai, Delhi, Bangalore, Delhi, and Mumbai. However, vendors are now also targeting smaller cities, as they have strong growth potential. The Online Food Delivery Market in India was worth US$ 4.66 Billion in 2020.
Online food delivery works on two delivery types i.e. Aggregator & Cloud Kitchen. The Food Aggregators allow consumers to compare and order their meals from different restaurants through a single app. It is more prevalent in India than Cloud kitchens as cloud kitchens are commercial facilities purpose-built to produce food specifically for delivery. According to our study, India Online Food Delivery Industry will grow at a staggering CAGR of 28.94% during 2020-2026.
Factors that are propelling India's online delivery market are changing lifestyle and eating habits. Hectic schedule and growing disposable income in India pushes people towards ready-to-eat food at a cheaper rate. Getting it quickly through one-click has popularized food delivery options, especially in urban areas. Besides, rising digitalization among millennial and increasing proportion of working women in India are also driving the online food delivery trends in India. Furthermore, COVID- 19 lockdowns have also positively impacted India's online food delivery industry by the full-filling urge of eating outside. As many leading players like Zomato, McDonald's Corporation, and Domino’s Pizza Inc. have introduced contactless delivery services.
Renub Research latest report “India Online Food Delivery Market by Delivery Type (Aggregator, Cloud Kitchen), Meals (Dinner, Lunch, Breakfast, Others), Cuisines (Chinese, Continental, Italian, North Indian, South Indian, Maharashtrian, Gujrati, Bengali, Others), City (Bangalore, Delhi NCR, Mumbai, Hyderabad, Pune), Ordering Platform (Phone Call, Restaurant's Website or Mobile App, Delivery Service Website or Mobile App), Ordering Frequency (Frequency by Age, COVID-19 Impact on Ordering Frequency by Age), Company (Zomato Media Private Limited, Jubilant FoodWorks (Dominos), Yum! Brands, Inc. (Pizza Hut and KFC), Bundl Technologies Private Limited (Swiggy), FoodVista India Private Limited (Freshmenu)” provides detailed analysis on online food delivery trends in India.
1. Zomato Media Private Limited 2. Dominos (Jubilant FoodWorks) 3. Pizza Hut and KFC (Yum! Brands, Inc.) 4. Swiggy (Bundl Technologies Private Limited) 5. Freshmenu (FoodVista India Private Limited)
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