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Online food delivery market to grow 18% on-year to Rs 2 lakh crore by 2030: Bain-Swiggy report

Economic Times

Economic Times · 1y ago

Online food delivery market to grow 18% on-year to Rs 2 lakh crore by 2030: Bain-Swiggy report

According to a report by Bain & Company and Swiggy, the online food delivery segment is predicted to grow at 18% annually over the next seven years. Market penetration is expected to increase from 12% to 20% by 2030. The report also forecasts that India's food services market will expand to Rs 9-10 lakh crore by 2030. Convenience-led formats like QSRs and cloud kitchens are projected to outpace the broader food services market in terms of growth. The report highlights higher incomes, digitisation, improved customer experiences, and an inclination for new experiences as factors contributing to this growth.

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New 10-minute food delivery startups are ready to test your impulse control

Livemint

Livemint · 9m ago

New 10-minute food delivery startups are ready to test your impulse control

New 10-minute food delivery companies like Swish and Zing are emerging in India to cater to the growing demand for faster food deliveries. Swish recently raised $2 million in funding and plans to establish 150 delivery centers across Bengaluru. The success of established food delivery startups Swiggy and Zomato has inspired these new players to offer quick and convenient food delivery options. While 10-minute delivery may have its limitations in terms of food options and scalability, these companies see a significant market opportunity. The Indian food delivery market is expected to surpass ₹2 lakh crore by 2030, attracting more players to the space.

Salaries for quick commerce delivery execs higher than food delivery: report

Economic Times

Economic Times · 9m ago

Salaries for quick commerce delivery execs higher than food delivery: report

A new report has found that delivery executives in the quick commerce sector earn higher incomes compared to those in food delivery. The report reveals that quick commerce delivery partners earn a net income of Rs 21,402, while their food delivery counterparts earn Rs 18,595. Quick commerce delivery partners also complete 29.7% more orders per month compared to food delivery. The report suggests that the lower last mile costs and shorter delivery distances in quick commerce contribute to its higher income potential. The quick commerce market in India is projected to be worth $42-55 billion by 2030.

Swiggy targets $15 billion valuation in IPO

Economic Times

Economic Times · 1y ago

Swiggy targets $15 billion valuation in IPO

Indian food delivery giant Swiggy is planning to go public with a target valuation of $15 billion as it aims to raise $1-1.2 billion. This IPO would be one of the largest in India this year. Swiggy, backed by SoftBank, competes with Zomato in the online food delivery sector and both companies are betting on the growing quick commerce trend. Swiggy plans to use the IPO funds to expand its Instamart business and increase competition with Zomato, which currently has a market valuation of around $28 billion. Quick deliveries are predicted to make up 70% of India's online grocery market by 2030.

Food services sector may grow at 8% CAGR in 2024-28: NRAI report

Economic Times

Economic Times · 1y ago

Food services sector may grow at 8% CAGR in 2024-28: NRAI report

A report by the National Restaurant Association of India (NRAI) projects a compound annual growth rate of 8.1% for the food services sector from 2024 to 2028. The industry is estimated to be worth Rs 5.7 lakh crore in FY24 and is expected to grow to Rs 7.8 lakh crore by FY28. The report also highlights an increase in the frequency of eating out, with consumers dining out an average of 3.7 times per month and ordering food 4.2 times per month. The industry is the second-largest employer in India and is expected to grow by over 20% by 2028.

Swiggy enables Rs 450 crore in disbursals through restaurant financing programme

Economic Times

Economic Times · 1y ago

Swiggy enables Rs 450 crore in disbursals through restaurant financing programme

Online food delivery platform Swiggy has disbursed over Rs 450 crore to more than 8,000 restaurants since 2017 through its financing programme. The programme allows restaurants to access financial products such as term loans and credit lines from lending firms. Swiggy is in a fierce competition with rival Zomato for market share in the food delivery industry and is also eyeing a public listing.

Food delivery via aggregators amounts to Rs 9,000-11,000 crore of additional costs annually: report

Economic Times

Economic Times · 11m ago

Food delivery via aggregators amounts to Rs 9,000-11,000 crore of additional costs annually: report

A new report reveals that ordering food through delivery aggregators in India results in an additional cost of Rs 9,000-11,000 crore per year. This includes convenience fees, delivery charges, packaging costs, and subscription fees. The report highlights that food delivery aggregators charge a premium of Rs 46 per dish compared to direct restaurant orders, impose 150-200% higher delivery fees, and charge Rs 2 more for packaging. The study also highlights disparities in pricing between aggregator platforms and restaurant-owned delivery platforms. These hidden costs can significantly impact consumers' finances over time.

Swiggy investor keeps valuation unchanged ahead of IPO as Zomato retains rich tag

VCCircle

VCCircle · 1y ago

Swiggy investor keeps valuation unchanged ahead of IPO as Zomato retains rich tag

Food delivery company Swiggy is planning to go public and has seen one of its investors keep its valuation unchanged. This comes as rival Zomato achieved a market capitalisation of over Rs 2 trillion before falling on Tuesday. Swiggy aims to tap into the growing demand for food delivery services in India and is set to file for its initial public offering soon. The company was recently valued at $5.5 billion after raising $800 million in funding.

Swiggy shares fall nearly 6% as traders book profits on Day 2 after listing

Economic Times

Economic Times · 9m ago

Swiggy shares fall nearly 6% as traders book profits on Day 2 after listing

Shares of Swiggy, the leading food delivery player, declined by 5.6% to Rs 430.30 on BSE after an initial rise of over 7% on Thursday. The company's debut on Wednesday saw its shares end the day at a 17% premium compared to the issue price of Rs 390. While investor enthusiasm may be tempered by ongoing losses and challenging market conditions, Swiggy's brand recognition, extensive network, and strong position in the food delivery market support optimism for its future growth potential. Swiggy's market capitalization crossed Rs 1 lakh crore mark on its debut day.

Swiggy hikes its platform fee on food orders to Rs 3

Economic Times

Economic Times · 1y ago

Swiggy hikes its platform fee on food orders to Rs 3

Swiggy, the popular food delivery platform, has increased its platform fee on food orders to ₹3. The fee hike aims to help the company cover its operational costs and ensure profitability amid tough competition in the online food delivery industry. Despite facing criticism from restaurant partners, Swiggy remains committed to providing value to its customers and expanding its services across the country.

India’s online commerce sector to touch $300B by 2030: Bessemer Venture Partners

YourStory

YourStory · 2m ago

India’s online commerce sector to touch $300B by 2030: Bessemer Venture Partners

India's online commerce sector is projected to grow from $30 billion in 2020 to $300 billion by 2030, backed by technology advances, demographic factors, and supportive policies, says a Bessemer Venture Partners report. The rise of quick commerce and direct-to-consumer brands has shaped changing consumer behaviors, with platforms like Zepto and Swiggy capitalizing on these trends. The report underscores India's burgeoning digital potential as a $1 trillion opportunity, driven by evolving consumption habits and platforms adapting to shorter attention spans.

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