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Outlook on the Online Food Delivery Market in India to 2024 – Increased Number of Dual Income Families Presents Opportunities – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Online Food Delivery Market in India 2020" report has been added to ResearchAndMarkets.com's offering.

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.).

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.

Key deterrent to the growth of the market

Recently, there have been several instances of spurious and closed restaurants; and food shops taking orders on food platforms, only to be informed later that either the shop cannot be located or had shut operations. Cases were reported where certain outlets registered on these food delivery apps have turned out to be makeshift, or operate out of home joints, with hardly any focus on hygiene and quality. This has caused annoyance among both the customers and the food delivery executives. Also, consumers are becoming concerned about the quality of food since such unauthorized food stalls seldom maintain hygiene both while cooking and packaging.

Companies covered

  • Box8
  • Bundl Technologies Private Limited
  • FoodVista India Private Limited
  • Rebel Foods Private Limited
  • Zomato Media Private Limited
  • Domino's Pizza, Inc.
  • Yum! Brands, Inc.

Key Topics Covered:

1. Executive summary

2. Socio-economic indicators

3. Introduction

3.1. Market definition and structure

3.2. Major global players using AI-based manufacturing process

4. India artificial intelligence market overview

4.1. India artificial intelligence market overview

4.1.1. India artificial intelligence market size and growth forecast

4.1.2. Funding in the Indian AI start-ups

5. India manufacturing industry overview

5.1. India manufacturing industry overview

5.1.1. India - gross value added (GVA) of manufacturing

6. Artificial intelligence in the Indian manufacturing industry

6.1. Impact of artificial intelligence in the Indian manufacturing industry

7. Use cases of AI in the manufacturing industry

7.1. Use cases of AI in the manufacturing industry

8. Case studies

8.1. Case study - Blue Star Ltd.

8.2. Case study - TVS Motor Company Ltd.

8.3. Case study - JK Tyre & Industries Ltd.

8.4. Case study - Bajaj Auto Ltd.

8.5. Case study - Asian Paints Ltd.

9. Market influencers

9.1. Market drivers

9.2. Market challenges

10. Competitive landscape

10.1. Abee Research Labs Pvt. Ltd.

10.1.1. Company information

10.1.2. Business description

10.1.3. Products/services

10.1.4. Key people

10.2. EroNkan Technologies Pvt. Ltd.

10.3. Flutura Business Solutions Pvt. Ltd.

10.4. LivNSense Technologies Pvt. Ltd.

10.5. Universal Robots (India) Pvt. Ltd.

10.6. Altizon Systems Pvt. Ltd.

10.7. IBM India Pvt. Ltd.

11. Appendix

11.1. Research methodology

11.2. About the Publisher

11.3. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/ye4jg6



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