Indian online food delivery industry views ~38.08% CAGR by 2023

NAVI MUMBAI, India - Aug. 2, 2019 - PRLog -- Buy latest research report at Aarkstore.com on "Online Food Delivery Market In India (2018-2023)"

The meaning of food tech has evolved over the years. Earlier, it only referred to the technology used for food processing. Now, it pertains to online food ordering and delivery services. Adequate investments in this market space have enabled companies to provide online food delivery services that were previously non-existent. The online food delivery industry of India, which is the part of the e-services market, has two different delivery service solutions meant for prepared meals ­­– restaurant-to-customer delivery system, and platform-to-customer delivery system. The service providers operate in any of the following four models: milk run model, hub and spoke model, point to point delivery model, and decentralized delivery network.

Market insights:
The online food delivery market in India was valued at INR 45.58 Bn in 2017 and is expected to expand at a compound annual growth rate (CAGR) of ~38.08% from 2018 to 2023. Metropolitan cities like Bengaluru, Delhi, Mumbai, Pune, Kolkata, Chennai, and Hyderabad accounted for ~87% of the overall online food delivery market in India in 2017. Among the major players, Bengaluru-based online food delivery player, Swiggy is currently the market leader constituting of ~36.5% of the market, followed by Zomato. The percentage of daily orders fulfilled by the self-owned delivery fleet of companies has increased from ~46% to ~56% and the average delivery time of the overall market improved from 47 minutes to 42 minutes during the period Q4 of 2016 to Q4 of 2017.

Companies covered:
Bundl Technologies Pvt. Ltd. (Swiggy)
Faasos Food Services Pvt. Ltd.
Holachef Hospitality Pvt. Ltd.
Zomato Media Pvt. Ltd.
Foodpanda India
Uber Technologies, Inc. (UberEats)

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