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CLSA sees food delivery as $11 billion market in 5 years

Apr 20, 2021 12:39 IST | By Editorji News Desk

Just as Zomato readies to deliver an IPO and Swiggy serves a hot valuation of $5 billion, brokerage house CLSA says India's food delivery business could be a $11 billion market in 5 years.

Swiggy controls 47% of the market while Zomato accounts second at 45%. Zomato was valued at $5.4bn (in February 2021) and Swiggy at $4.9bn (in April 2021). Amazon entered the market in May 2020 but significantly lags the two major players. 

CLSA expects Swiggy to take on a 'super-app' strategy as only 2 out of the last 10 entrants continue to operate. 

Business