India Online Food Delivery Market shall grow at a CAGR of 33% during 2023-2028
Renub Research
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Renub Research has recently published a report named?"India Online Food Delivery Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis"?providing a detailed industry analysis that consists of market share insights. In addition, the report covers research on competitors and areas and current advancements in India Online Food Delivery Market.?India Online Food Delivery Market?will reach?US$ 29.33 Billion?by?2028?compared to?5.30 Billion?in?2022.?In recent years, the rise of food delivery services has sparked a delectable revolution in India. Transforming the way people satisfy their cravings, these services have redefined the dining experience.
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From the convenience of ordering from home to indulging in a diverse range of cuisines, food delivery has become an integral part of Indian food culture. With a single tap, culinary delights from all corners of the country are delivered to doorsteps, tantalizing taste buds and expanding horizons. As food delivery services continue to redefine the Indian dining scene, they bring a world of flavours to the fingertips, revolutionizing the way people savour their meals and embracing the vibrant diversity of India's gastronomic landscape.
Food Delivery Services Reshape India's Culinary Landscape
Increasing internet accessibility and smartphone sales, along with a growing working population and rising incomes, are driving growth in the India online food delivery market. Major players primarily focus on urban areas like Bangalore, Delhi, and Mumbai, but they are also pursuing smaller cities with significant growth potential. The trend of on-the-go food items, quick delivery models, and cheaper food options is fuelling demand for online food delivery services. Due to the COVID-19 pandemic, Zomato, McDonald's Corporation, and Domino's Pizza Inc. have introduced contactless delivery services to maintain social distancing and ensure food safety.
Capital Influx Propels Restaurant-to-Consumer Dominance, Seizing Market Share.
In the restaurant-to-consumer segment, the online food delivery services provider manages the delivery aspect, while the restaurant handles the ordering process. Players using this model increase their market penetration by offering loyalty and subscription programs to customers and integrating with multiple restaurant chains through aggregators.
On the other hand, the platform-to-consumer model focuses on food delivery planning and resource features and offers shipment services to restaurants that need more in-house delivery resources and facilities. For example, Zomato has a broad network, providing delivery services in almost every location, including urban and remote areas. As a result, they now cater to over 30 million monthly active users across more than 500 cities in India.
Type – India Online Food Delivery Market breakup from 2 viewpoints
1.??Restaurant-to-Consumer
2.??Platform-to-Consume
Digital Payment Services Reign Supreme in India Online Food Delivery Market, Securing the Lion's Share
The adoption of online payment services, encompassing payment portals, net banking, and credit/debit cards, is being boosted by the rising awareness among customers about digital money and the increasing number of associations between banks and online food delivery service contributors. As a result, they are emerging as the preferred e-commerce payment method and shall retain the majority share in the coming years. The growing e-commerce market is witnessing competition between local digital wallets such as Paytm, MobiKwik, and PhonePe, and global players like Google Pay and Amazon Pay.
Payment - India Online Food Delivery Market breakup from 2 viewpoints
1.??Cash on delivery
2.??Online
Bengaluru is the biggest regional market in the Indian online food delivery market
Bengaluru, the Tech Capital, Reigns as India's Online Food Delivery Hub. With a burgeoning population of tech-savvy young professionals, Bengaluru embraces new technologies and services, leading the charge in online food delivery adoption. The city's vast array of partnered restaurants and food outlets offers an enticing array of culinary delights. Amidst the bustling cityscape and traffic congestion, online food delivery thrives, catering to the convenience-seeking consumers. Bengaluru prominence is amplified by hosting industry giants like Swiggy and Zomato, who have established their headquarters here, solidifying the city's dominant position in India online food delivery market.
City - India Online Food Delivery Market breakup from 6 viewpoints
1.??Bangalore
2.??Delhi NCR
3.??Mumbai
4.??Hyderabad
5.??Pune
6.??Others
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Fast food has hegemony in the market share due to its large consumer base
Fast food is one of the fastest-growing food categories in India, with children being a key demographic that fast-food brands target by introducing various attractive options. With busy schedules, consumers are increasingly relying on fast food and ready-to-eat meals, and this trend is not limited to one gender as both males and females are equally career-oriented. With dual incomes, consumers have higher spending power, leading to increased consumption of ready-to-eat food. People often seek entertainment and relaxation during their free time instead of cooking, contributing to the growing demand for fast food products.
Cuisine - India Online Food Delivery Market breakup from 5 viewpoints
1.??Fast Food
2.??Indian
3.??Chinese
4.??Italian
5.??Other
Competitive Landscape
Zomato, Swiggy, Jubilant Foodworks Ltd., Yum! Brands, Inc., Uber Eats, Domino's, McDonald's, and Faasos are among the major players currently competing in the Indian online food delivery market.
All companies have been discussed from 3 perspectives.
???Overview
???Initiatives & Recent Developments
???Revenue
Company Analysis
1.??Zomato
2.??Swiggy
3.??Jubilant FoodWorks Ltd
4.??Uber Eats
5.??Dominos
6.??McDonald's
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