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Indian online food delivery market to hit $8bn by 2022

Jan 28, 2020 19:39 IST

Rapid digitisation and growth in both online buyer base and spending will help India's online food industry to become a $8 billion market by 2022, a report said on Tuesday. The report by Google and Boston Consulting Group (BCG) revealed that variety in cuisines was one of the top reasons for recurrent use of online food ordering apps, followed by good discounts and convenience.

Overall online spending in India is rising rapidly and expected to grow at 25% CAGR over the next five years to reach over $130 billion, the report mentioned.

Zomato and Swiggy currently dominate the online food delivery market in India.

 

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