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INDUSTRIES

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MARKETSFooddeliveryindustryinIndiaCHAPTER

01GlobaloverviewRevenueoftheonlinefooddeliverymarketinselectedcountriesworldwidein2023(inbillionU.S.dollars)Onlinefooddeliveryrevenueworldwide2023,bycountryRevenueinbillionU.S.dollars200

250050100150300350400395.94450ChinaUnitedStatesUnitedKingdomIndia287.5140.1733.36Brazil16.114.5312.53GermanyFranceSpain7.22Mexico7.175.86Italy3Description:Chinaisleadingtherankingbyrevenueintheonlinefooddeliverymarket,recordingnearly396billionU.S.dollars.FollowingcloselybehindistheUnitedStateswith287.5billiondollars,whileItalyistrailingtherankingwith5.86billionU.S.dollars,resultinginadifferenceof390billionU.S.dollarstotherankingleader,China.ReadmoreNote(s):Worldwide;Jan1sttoDec31st2023;estimatesSource(s):Penetrationrateoftheonlinefooddeliverymarketinselectedcountriesworldwidein2023Onlinefooddeliverypenetrationrateworldwide2023,bycountryPenetrationrate40%0%10%20%30%50%60%70%80%UnitedStatesUnitedKingdomChina68.18%66.1%62.17%GermanyFrance51.27%42.6%41.33%41.31%ItalyBrazilSpain38.41%Mexico30.25%India23.33%4Description:Comparingthetenselectedregionsregardingthepenetrationrateintheonlinefooddeliverymarket,theUnitedStatesisleadingtheranking(withabout68percent)andisfollowedbytheUnitedKingdomwith66.1percent.AttheotherendofthespectrumisIndiawith23.3percent,indicatingadifferenceof44.9percentagepointstotheUnitedStates.ReadmoreNote(s):Worldwide;Jan1sttoDec31st2023;estimatesSource(s):DigitalMarketInsightsQuickcommercegrocerydeliverymarketrevenueintheAsia-Pacificregionfrom2020to2028,bycountryorterritory(inbillionU.S.dollars)QuickcommercemarketrevenueAPAC2020-2028,bycountryChinaThailandIndiaPhilippinesJapanSingaporeSouthKoreaNewZealandIndonesiaPakistanTaiwanHongKongAustraliaMalaysiaVietnam14012010080118.64110.61102.5992.6880.8467.2952.766043.594027.82208.837.896.945.384.815.235.6632

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31314702020202120222023202420252026202720285Description:Fromtheselectedregions,therankingbyrevenueinthe'QuickCommerce'segmentoftheonlinefooddeliverymarketisforecasttobeleadbyChinawith118.64billionU.S.dollars.Incontrast,therankingistrailedbyMalaysiawith0.11billionU.S.dollars,recordingadifferenceof118.53billionU.S.dollarstoChina.ReadmoreNote(s):2020to2028Source(s):DigitalMarketInsightsShareofconsumersorderingfoodfromfooddeliveryappsinAsiaasofApril2023,bycountryorterritoryandfrequencyDeliveryfoodappusageAsia2023,bycountryandfrequencySeveraltimes

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aChina9%2%HongKongIndonesiaIndia6%5%11%0%8%Japan0%SouthKoreaMalaysiaPhilippinesSingaporeThailandTaiwan2%2%4%5%7%5%3%3%10%3%10%4%Vietnam9%9%6Description:AccordingtoasurveyfromRakutenInsightconductedinAsiainApril2023,11percentofconsumersinIndiaorderedfoodseveraltimesperdayfromfooddeliveryapps.Incontrast,onepercentofthesurveyedcustomersinJapanorderedfoodonceortwiceaweek,showingarelativelyseldomuseoffooddeliveryappsinthecountryasofApril2023.ReadmoreNote(s):Asia;April13to30,2023;137,460respondents;16yearsandolderSource(s):RakutenInsightCHAPTER

02FoodservicesinIndiaEstimatedmarketvalueofthefoodserviceindustryinIndiain2022to2029(inbillionU.S.dollars)Indianfoodservicemarketestimatedvalue2022-202814012010080125.0679.6569.786041.14020020222023202820298Description:ThefoodservicemarketinIndiawasestimatedtobeabout70billionU.Sdollarsin2023.Itisestimatedtoincreaseto125billionU.Sdollarsin2029.Thisestimatesaccountsforfullservicerestaurants,quickservicerestaurants,cafesandbarsandcloudkitchensegment.ReadmoreNote(s):India;2022to2023Source(s):MordorIntelligenceMarketsizeofquickservicerestaurantsinIndiafromfinancialyear2014to2022,withanestimatefor2027(inbillionIndianrupees)MarketsizeofquickservicerestaurantsinIndiaFY2014-2027500450400350300250200150100500FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2022FY20279Description:ThequickservicerestaurantmarketinIndiawasvaluedatabout171.9billionIndianrupeesinfinancialyear2022.Thiswasfurtherestimatedtogrowtoover431billionrupeesby2027.Therisingexposuretowesternfoodandculturealongwiththehigherdisposableincomeledtoasignificantgrowthinthequickservicerestaurantsector.ReadmoreNote(s):India;FY2014toFY2022Source(s):GlobeNewswire;ResearchandMarketsGrossmerchandizevalueofcloudkitchensinIndiain2018and2019,withanestimatefor2025(inbillionU.S.dollars)CloudkitchenGMV2018-20252.52.01.51.02.320.60.440.50.00.182018201920222024202510Description:TheGrossMerchandizevalueofcloudkitchensinIndiawasestimatedtobeabout2.3billionU.S.dollarsin2025.TheGMVofcloudkitchensawasteepincreasefromabout180millionU.S.dollarsin2018.

ReadmoreNote(s):India;2018and2019Source(s):RedseerCHAPTER

03OnlinefooddeliveryRevenueofonlinefooddeliverymarketinIndiafrom2017to2023,withforecastsuntill2028,bysegment(inbillionU.S.dollars)RevenueofonlinefooddeliverymarketinIndia2017-2028,bysegmentOnlineFoodDeliveryGroceryDeliveryMealDelivery908070605040302010081.9164.273.3856.5564.8648.9154.8740.0643.7830.6533.3625.1522.1711.1919.5317.7116.8315.679.4815.9514.8113.1311.3410.163.88.197.226.365.014.083.523.152.851.94592.1620172018201920202021202220232024*2025*2026*2027*2028*12/statistics/1455073/india-revenue-of-online-food-delivery-market-by-segmentIntheyear2023,therevenueoftheonlinefooddeliverymarketinIndiaamountedtoover33billionU.S.dollars.Thelion'sshareofthiscamefromthemealdeliverysegment.Therevenueisforecasttoincreasetoover81billionU.S.dollarsby2028.

ReadmoreNote(s):India;2017to2023;*Forecasts.ReadmoreSource(s):RevenueofonlinefooddeliveryinIndiafromfinancialyear2017to2022,byleadingcompany(inbillionIndianrupees)OnlinefooddeliveryrevenueIndiaFY2017-2022,byleadingcompanyZomatoSwiggy605040302010057.0541.9226.0525.1525.4719.9413.1311.224.664.423.321.33FY2017FY2018FY2019FY2020FY2021FY202213Description:Inthefinancialyear2022,Swiggyrecordedarevenueofapproximately57billionIndianrupees.ItscompetitorZomato,ontheotherhand,reportedarevenueofnearly42billionIndianrupeesthatsameyear.BothcompanieswereleadingplayersintheonlinefooddeliverymarketinIndia.ReadmoreNote(s):India;FY2017toFY2022Source(s):ENTRACKRPrivateequityandventurecapitalinvestmentsinthehyperlocalsectorinIndiafrom2013to2022(inmillionU.S.dollars)PE/VCinvestmentsinthehyperlocalsector2013-20223,0002,5002,5272,0001,6371,6421,5001,0001,3426175000353.52015100.62016109.3201765.536.8201320142018201920202021202214Description:ThehyperlocalsectorinIndiarecordedatotalPE/VCinvestmentvalueofover1.3billionU.S.dollarsin2022,adeclinefrom2.5billiondollarsinthepreviousyear.Despitethedecline,itremainedoneofthehighest-fundedsectorsin2022.

ReadmoreNote(s):India;2013to2022Source(s):EY;Reuters;VentureIntelligenceFundingraisedinIndiaasofJune2023,byselectedfoodtechstartups(inbillionU.S.dollars)FundingraisedinIndiaJune2023,byselectedfoodtechstartupsFundingamountinbillionU.S.dollars1005152025ZomatoSwiggy21.53.57RebelFoodsCureFoodsHealthifyMe0.510.160.13Box8

0.08BiryaniByKilo

0.05UrbanPiper

0.03EazyDiner

0.02Petpooja

0.0115Description:AsofJune2023,Zomato,afooddeliveryserviceproviderraisedfundsamountingto21.5billionU.S.dollarsinIndia.Swiggy,acompetitorofZomato,raisedfundsworth3.57billiondollars.Rebelfoods,anonlinerestaurantcompanythatoperatescloudkitchenbrandsinIndiaraisedover0.5billiondollars.ReadmoreNote(s):India;asofJune2023Source(s):TracxnTechnologiesCHAPTER

04DomesticfooddeliveryplayersDistributionofquickcommercebrandsacrossIndiaasof2022ShareofquickcommercebrandsinIndia2022Shareofbrands0%10%20%30%40%50%60%ZeptoBlinkitFlipkartOther50%22%14%8%Swiggy6%17Description:In2022,Zeptooccupiedmajorityofquickcommercebrandsshareacrossthecountry.Incomparison,Swiggyhadashareofsixpercentamongthequickcommercebrands.Moreover,thegrossmerchandisevalueofquickcommerceislikelytoreachoverfivebillionU.S.dollarsin2025.ReadmoreNote(s):India;2022Source(s):MarketInsightsQuarterlyrevenueofZomatofooddeliveryinfinancialyear2021and2023(inbillionIndianrupees)Zomato'squarterlyfooddeliveryrevenueFY2021-202318161415.8115.6515.314.712.812.5121210810.37.56420Q4FY2021Q1FY2022Q2FY2022Q3FY2022Q4FY2022Q1FY2023Q2FY2023Q3FY2023Q4FY202318Description:Inthelastquarterofthefinancialyear2023,fooddeliveriesatZomatoaccountedfor15.3billionrupees,higherthaninpreviousquarters.Apartfromfooddelivery,Zomato'srevenuescamefromHyperpure(B2Bsupplies).However,thissegmentmadeupamuchsmallershareofthefoodaggregator'srevenue.ReadmoreNote(s):India;FY2021andFY2023Source(s):ZomatoRevenueofSwiggyinfinancialyear2022,bytype(inbillionIndianrupees)RevenuebreakdownofSwiggyFY2022,bytype4034.44353025201510520.361.380.880RevenuefromplatformservicesSaleofgroceryandFMCGproductsSaleoffoodOtheroperatingincome19Description:Swiggyreportedarevenueofover57billionIndianrupeesinfinancialyear2022.Ofthis,revenuefromplatformservicesmadeupnearly34billionthatyear,withsalesofgroceryandFMCGproductsrankingsecond.

ReadmoreNote(s):India;FY2022Source(s):ENTRACKRRevenuefromoperationsofBlinkitinfinancialyear2017to2022(inbillionIndianrupees)RevenuefromoperationsofBlinkitFY2017-20223025201510527.2526.1621.612.80.53FY20180.340FY2017FY2019FY2020FY2021FY202220Description:Infinancialyear2022,theIndianonlinegrocerydeliveryserviceBlinkithadarevenueofalmost26.2billionIndianrupees.Thiswasadecreaseascomparedtopreviousyearwhentherevenuefromoperationswasabove27.2billionIndianrupees.TherebrandingofBlinkit(previouslyknownasGrofers)wasdonetofocusonthequickcommerceservicesinIndia.ReadmoreNote(s):India;FY2017toFY2022Source(s):ENTRACKRBreakdownofrevenueofDunzofromfinancialyear2021to2022(inmillionIndianrupees)BreakdownofrevenueofDunzoFY2021-2022FY2021FY2022600506500400300247200100021164OnlineplatformservicesSalesofproductsWarehousingfee21Description:Infiscalyear2022,therevenuefromonlineplatformservicesamountedto506millionIndianrupees.Thiswasanincreaseascomparedtothepreviousfiscalyear.Dunzoisanonlinegrocerydeliverycompanythatsuppliesfoodproducts,fruits,vegetables,petsupplies,andmedicinesinmajorcitiesinIndia.ReadmoreNote(s):India;FY2021toFY2022Source(s):ENTRACKRCHAPTER

05InternationalfooddeliveryprovidersQuarterlyaverageofmonthlyactiveusersofDomino'sIndiaappfromfinancialyear2022to2023(inmillions)QuarterlyaverageofmonthlyactiveusersDomino'sIndiaappFY2022-2023121011.311.1109.29.18.47.786420Q12022Q22022Q32022Q42022Q12023Q22023Q3202323/statistics/1426350/domino-s-india-quarterly-average-of-monthly-active-usersTheDomino’sIndiaapphasseenasteadyincreaseinmonthlyactiveusersfromthefirstquarterof2022tothethirdquarterof2023,growingfrom7.7millionto11.3million.Theusergrowthwasconsistentexceptforaslightdipinthefourthquarterof2022.ReadmoreNote(s):India;Q1FY2022toQ3FY2023Source(s):HDFCSecuritiesDeliveryasashareofrestaurantsalesforPizzaHutIndiafromfinancialyear2019to2023DeliveryasashareofrestaurantsalesforPizzaHutIndiaFY2019-202360%50%57%53%50%40%34.8%32.5%30%20%10%0%FY2019FY2020FY2021FY2022FY202324Description:PizzaHutinIndiareportedabout50percentdeliveryasashareofrestaurantsalesinthefinancialyear2023.Thiswasadeclinecomparedtothepreviousyear.Thiscouldbeattributedtothecoronaviruspandemicandconsequentlockdown.Theonlinefooddeliverymarketwitnessedrobustgrowthduringthemeasuredperiod.ReadmoreNote(s):India;FY2019toFY2023Source(s):SapphireFoodsIndiaDeliveryasashareofrestaurantsalesforKFCIndiafromfinancialyear2019to2023DeliveryasashareofrestaurantsalesforKFCIndiaFY2019-202350%45%40%35%30%44%38.1%36%25%19.8%20%15%10%5%16.7%0%FY2019FY2020FY2021FY2022FY202325Description:KFCinIndiareportedabout36percentdeliveryasashareofrestaurantsalesinthefinancialyear2023.Thiswasasignificantdecreasecomparedtothepreviousyear.Thiscouldbeattributedtothecoronaviruspandemicandconsequentlockdown.Theonlinefooddeliverymarketwitnessedrobustgrowthduringthemeasuredperiod.ReadmoreNote(s):India;FY2019toFY2023Source(s):SapphireFoodsIndiaShareoffooddeliveryinquarterlyrevenueofBurgerKingIndiainfinancialyear2023and2024ShareoffooddeliveryintotalrevenueofBurgerKingIndiaQ3FY2023-Q3FY202450%44%45%40%35%30%25%20%15%10%5%43%43%42%39%0%Q3FY2023Q4FY2023Q1FY2024Q2FY2024Q3FY202426Description:BurgerKingIndia,nowrununderRestaurantBrandsAsiaLimitedrecordedover40percentofitsrevenuethroughitsdeliverychannelsinthethirdquarteroffinancialyear2024.RestaurantBrandsAsiaLimitedistheQSRforBurgerKinginIndiasince2014.ThecompanyexpandedtorunbrandsincludingTimHortons,Popeye's,andBurgerKinginIndonesia.ReadmoreNote(s):India;Q3FY2023toQ3FY2024Source(s):RestaurantBrandsInternationalYear-on-yeargrowthinMAUofMcDonald'sIndiaappfromfourthquarteroffinancialyear2023tothirdquarteroffinancialyear2024YoYMAUofMcDonald'sIndiaappFY2023-202470%66%60%50%40%30%20%10%0%25%14%12%Q4FY2023Q1FY2024Q2FY2024Q3FY202427Description:Inthethirdquarterofthefinancialyear2024,monthlyactiveusersoftheMcDonald'sappinIndiahada12percentcomparedtothethirdquarterinfiscalyear2023.McDonald’sIndiaismanagedbyHardcastleRestaurants,whichisasubsidiaryofWestlifeFoodworld.Theirdistributionnetworkincludesmultiplechannelstoservecustomers,suchason-the-go,dine-in,takeaway,drive-thru,anddelivery.ReadmoreNote(s):India;Q4FY2023toQ3FY2024Source(s):WestlifeDevelopmentCHAPTER

06ConsumerpreferencesOnlinefooddeliverybookingsbybrandinIndiaasofDecember2023OnlinefooddeliverybookingsbybrandinIndia2023Shareofrespondents0%10%20%30%40%50%60%70%80%90%100%Zomato84%Swiggy79%Domino's68%KFC58%PizzaHut52%McDelivery(McDonald'sdeliveryservice)33%DunzoBehrouzBiryaniIRCTCeCateringMOJOPizzaEatsure23%22%21%14%12%12%11%FreshMenuMagicpin29Description:In2023,asurveyconductedamongIndianconsumersaboutonlinefooddeliverybookingsbybrandfoundthat84percentofrespondentshadusedZomatointhepast12monthstoorderfood.Swiggytooksecondplace,with79percentofthosesurveyedusingthefooddeliveryplatform.Theseresultsarebasedonarepresentativeonlinesurveyconductedin2023among1,827consumersinIndia.

ReadmoreNote(s):India;JanuarytoDecember2023;1827respondents;18-54years;respondentswhoorderedrestaurantandfooddeliveryonline(Marketing&socialmedia,Services&eServices)Source(s):ConsumerInsightsFrequencyoforderingfromfooddeliveryappsacrossIndiaasofApril2023,byageFrequencyoffooddeliveryviaappsinIndia2023,byageSeveraltimesadayOnceadayThreetosixtimesaweekOnceortwiceaweekSeveraltimesamonthLessthanonceamonthNever120%100%80%60%40%20%0%10%13%9%13%20%15%20%15%26%16%12%17%13%20%14%23%16%23%15%13%22%21%18%16%9%3%13%8%7%9%9%4%9%14%13%16to24years25to34years35to44years45to54years55yearsandabove30Description:AspertheresultsofasurveyonIndianfooddeliveryappsconductedbyRakutenInsightinApril2023,mostrespondentsorderedfromfooddeliveryappsinonceortwiceaweek.Amongthosewhowerebetween25and34years,thefrequencyoforderingfoodfromfooddeliveryappseachdaywashigherincomparisontootheragegroups.ReadmoreNote(s):India;April13to30,2023;38,463respondents;16yearsandolder;among13.565femaleand24,898malerespondentsSource(s):RakutenInsightAmountperfoodorderviaappsacrossIndiaasofApril2023AmountperorderonfooddeliveryappsIndia2