Swiggy and Zomato Listed Top 10 Global Food Delivery Platforms

The research organization defines the food delivery market as digital, on-demand ordering and payment platforms for prepared food, groceries, and other retail items.

India's Swiggy, Zomato amongst Top 10 global food delivery platforms

Foodtech businesses Swiggy and Zomato claimed the ninth and tenth spots on the list, respectively, according to the ETC Group, which has its headquarters in Canada.

Before the COVID-19 epidemic, the industry was "revving up," but in 2020, growth "experienced turbo-charged growth as food delivery became a frontline service amid lockdowns," the report continued.

The paper claims that despite the sector's growth being fuelled by venture money and technological investment, companies have yet to turn a profit, even under the sector-friendly conditions of the global pandemic, when delivery became more of a necessity than a convenience.

Delivery services facilitate connections between local companies and consumers who like the "cheap convenience" of eating in (without meal preparation), while also providing "useful work" to unemployed individuals attracted to the gig economy's flexibility.

The business strategy has always been more about logistics, e-commerce (including customer data collection), and luring venture capitalists with an interest in technology than it has been about food service.

"The new industry immediately became more competitive as some businesses were acquired and others who persisted sought further funding by purchasing and trading stakes in rivals. Amazon and Alibaba, the two e-retail titans, both invested, "added the article.

"The business model is being adjusted to move toward profitability, most notably by including grocery delivery. However, user data offers businesses unprecedented access to their clients' preferences and, quite literally, their tastes "It was ad.

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