Indian food delivery apps Swiggy and Zomato have been listed among the world’s best food delivery companies, as per a report by Canada-based global research firm ETC Group. As per a report, titled ‘Crisis Profiteering, Digitalization and Shifting Power’, Swiggy has acquired the ninth spot and Zomato has been placed in the tenth. For the unversed, both Zomato and Swiggy are a part of over 100 Indian unicorns. According to the research firm, the food delivery sector refers to digital, on-demand platforms for ordering and paying for prepared food, groceries and other retail items. “Restaurants/retailers fill the orders and couriers deliver them to customers within a prescribed timeframe,” reads an ANI report.
“The food delivery sector is rapidly consolidating, but ownership is a moving target. As companies jostle for regional hegemony, they are buying, selling and swapping stakes in competitors,” the report reads, adding, “Venture capital and big tech investment has fueled the sector, but companies have yet to deliver profits, even in the sector-friendly circumstances of the global pandemic when delivery became more necessity than convenience.”
Other Global players who have been listed in the report are China’s Meituan food delivery app – grabbed the first position on the list, followed by the UK’s Deliveroo and US’ Uber Eats.
Further, Ele.me, DoorDash, Just Eat Takeaway/Grubhub, Delivery Hero, and iFood found themselves in the fourth to eighth spot.
While making the report, the research firm also stated that a major problem the sector faces is “significant increase in trash from the takeaway single-use packaging”.