Press release
Online Food Delivery Market Booming Segments; Investors Seeking Growth | Box8, Domino’s Pizza, Rebel Foods
Online Food Delivery Market
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The online food delivery market in India is growing in tandem with evolving lifestyle patterns and eating habits of Indians. Hectic work schedules and rise in disposable incomes have popularized food delivery, especially in urban areas.
The online food delivery market in India is expected to expand at compound annual growth rates of ~30.55% (based on revenue) and 10.19% (based on the number of users) during the 2020-2024 period, to generate a revenue of INR 1,334.99 Bn and develop a user base of 300.57 Mn by 2024. Major players currently operating in the Indian online food delivery market include platform-to-customer service providers like Swiggy (Bundl Technologies Private Limited), FreshMenu (FoodVista India Private Limited), Faasos (Rebel Foods Private Limited) and Zomato (Zomato Media Private Limited). Apart from these, there exist certain companies that operate with a restaurant-to-customer delivery model like Box8, Domino's (Domino's Pizza, Inc.), and KFC (Yum! Brands, Inc.).
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Segment-wise market overview
As of 2019, millennials accounted for 63% of the overall user base of the online food delivery market. This is owed to increasing disposable income of the millennials, especially in the urban regions in India. Also, millennials prefer ordering food online since it is easy to handle and saves time and energy of cooking at home.
In 2019, out of the major online food delivery service providers, Zomato held a share of ~38% in terms of user base. Swiggy held a share of ~27% in the online food delivery user base of India in 2019. High adoption rates in tier I and tier II cities, as well as swift delivery services has helped these two companies to gain the high share in the Indian market.
Key growth driver of the market
In the recent years, the number of working women has increased in the Indian workforce, especially in the city-based organized sectors. As a result, the number of double income families in also on the rise. With both the partners working and maintaining hectic working schedules, it become difficult for people to get time and energy to cook at home. Moreover, the dual income scenario has increased the overall spending capacity of the families. Also, the key players like Swiggy, and Zomato keep on announcing lucrative offers for the customers, both existing and new, in order to keep up the stiff competition in the online food ordering market. This in turn is leading towards people’s preference towards ordering food online and enjoying their favourite cuisine at home at an affordable price, thereby increasing the overall value and user base of the online food ordering market in India.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Online Food Delivery market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Online Food Delivery near future?
What is the impact analysis of various factors in the Online Food Delivery market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Online Food Delivery Market
• Online Food Delivery Size (Sales Volume) Comparison by Type (2019-2025)
• Online Food Delivery Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Online Food Delivery Size (Value) Comparison by Region (2019-2025)
• Online Food Delivery Sales, Revenue and Growth Rate (2019-2025)
• Online Food Delivery Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Online Food Delivery
• Online Food Delivery Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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