October 11, 2019

What slowdown? Online food delivery may touch $12.53 billion by 2023

According to analysts, Swiggy and Zomato jointly delivered about 96 million orders in the year — April 2017 till March 2018. The report said Zomato and Swiggy have about 63% share in terms of app installs in food-tech sector.

Earlier this month, Zomato said said its revenues increased by about 225% to $205 million on year in the six months to September 2019. Food delivery that generates bulk of the revenue — about 75% (according to Zomato’s FY19 annual report) saw about 290% jump in order volumes in H1FY20 compared to the year-ago period.

“In addition to wider internet penetration, the growth in per capita income of India is also a driving force behind the growth in demand for online food delivery in India,” according to the report.

Read more at https://www.financialexpress.com/industry/online-food-delivery-may-touch-12-53-billion-by-2023/1732353

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