BURNABY, Canada, March 8, 2016 /PRNewswire/ --
Earlier Foodtech meant food science that deals with the food production and food processing technology but in 2015, the definition has changed. Now, Foodtech, which is commonly known as Online food delivery, represents food-ordering and restaurant discovery companies, which are well funded. Foodtech companies offers, not only aggregators but food ordering and reviewing platform along with food creators and cloud restaurants.
Convenient food ordering platforms, relatively high disposable income, rise in consumerism, option to choose from variety of nearby restaurants are few of the major growth drivers of the Foodtech market in India.
Foodtech Market: Drivers and Restraints
India Foodtech market is growing at a significantly higher rate and stood at around USD70-80 million in 2015. On account of increasing penetration of smartphone users coupled with busy lifestyles of customers, convenience of ordering food, wide variety of restaurants to choose from, increasing disposable income are the major factors which would fuel the growth of footech market in India. Offering wide variety of food products, introduction of new schemes and discount offers are the major opportunity areas which are expected to influence India Foodtech market.
Logistic arrangements to deliver food items on time, within 30 minutes in some cases, can pose a challenge to India Foodtech market as delivering food within the committed time frame requires heavy logistics support.
Foodtech Market: Segmentation
The India Foodtech Market is classified on the basis of operations type, region and company.
India Foodtech Market, by Operations Type
- Food Aggregators
India Foodtech Market: By Region
Currently, North India region accounted for largest share in the foodtech market in India on account of majority of working class population and high rate of urbanization. South and West regions are growing on the back of increasing middle class population coupled with rising disposable income and increasing number of smartphone users.
India Foodtech Market: Key Players
Zomato, Foodpanda, Swiggy, TinyOwl, Yumist, Eatlo, TapCibo, SpoonJoy, are some of the major players operating in foodtech market in India.
The report covers exhaustive analysis on:
- Market Size, Market Share & Forecast
- Segmental Analysis - By Operations Type, By Region & By Company
- Regional Analysis for the following regions:
o North Region
o South Region
o West Region
o East Region
- Market Dynamics (Market Drivers, Challenges & their Impact Analysis)
- Market Trends & Emerging Opportunities
- Competitive Landscape
- Strategic Recommendations
Regional analysis includes
- North Region (Delhi, Chandigarh, Lucknow)
- South Region (Bangalore, Chennai, Hyderabad)
- West Region (Mumbai, Pune, Ahmedabad)
- East Region (Kolkata, Guwahati, Patna)
Why You Should Buy This Report?
- To gain an in-depth understanding of foodtech market
- To identify the on-going trends and anticipated growth in the next five years
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs.
Key Questions This Study Will Answer
- How do growth rates in the market vary by segment, sub-segments and region?
- What are the most important growth drivers and opportunities in the market?
- What strategies should market competitors employ to gain share in mature segments of the market?
- What are the competitor profiles in this market and how do they compete for market share?
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