Press Release
Press Release
According to a new report by EMR titled, ‘India Online Food Delivery Market Report and Forecast 2024-2032', the India online food delivery market size was valued at USD 7.4 billion in 2023. In the past three years, the market has shown a year-on-year growth of 100%. The market growth is expected to witness a robust growth in the coming few years.
India online food delivery market is propelled by the increasing number of women workforce and double-income families who prefer convenient and quick meals at their doorstep. It offers various cuisines like Indian, Chinese, and Italian, among others, which can be ordered through the website and mobile application. India online food delivery is thriving due to the increasing population and the growing number of smartphone users. Economical rate of internet data has brought a revolution in online food services in India. This virtual space allows consumers to conveniently evaluate and compare menus, prices, and reviews of restaurants available on the internet. They also allow ease of payment with options like cash on delivery (COD) and online payment.
Pizza Hut, one of the major brands of Yum! Brands (NYSE: YUM) and Domino's Pizza, Inc. (NYSE: DPZ) are the key players in the online food delivery market in India. They are spread across India and provide cost-effective food.
Zomato and Swiggy are the major companies leading online food delivery market in India. In 2020, Zomato announced that it had reached the milestone of delivering food in 500 cities across India. Recent additions to the Zomato map include Pushkar in Rajasthan, Alappuzha, and Malappuram in Kerala, and Kanyakumari, among others. The food delivery services are proliferating due to the upcoming marketing campaigns by the companies, along with inflating the disposable income of consumers.
Swiggy, a leading company in India online food delivery market, the launch of a ‘Daily’ app, which would provide homestyle meal subscription for the first time in India. This app will offer homestyle simple food prepared by home chefs, organised vendors, and tiffin service providers. It has been launched in Gurugram and expected to expand to Bangalore and Mumbai soon.
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The key players in the India online food delivery market as identified by EMR are Zomato Limited, Bundl Technologies Pvt Ltd (Swiggy), Foodvista India Private Limited (FreshMenu), Jubilant FoodWorks Ltd., Yum! Brands, Inc., Plaza Restaurants Private Limited, Curefoods India Private Limited, Rebel Foods, Sky Gate Hospitality Pvt Ltd, and Poncho Hospitality Pvt. Ltd., among others. The comprehensive report looks into their market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions.
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