New Delhi: The food delivery business has largely recovered by 75-80 per cent, said the “Indian Restaurant Industry ~ Mid Covid-19 Report” from Zomato’s poll “in recent days of thousands of restaurants and customers across India.”
Recovery trends are strong for food deliverers, according to the Zomato analysis. The industry is expected to hit preCovid-19 levels of business in the next two to three months.
But while the food delivery industry is recovering, the restaurant business of dining out continues to struggle. A horrendous forty per cent of eateries are expected to shut down, estimates Zomato. One of the better known India-origin brands globally, a former Bain & Co consultant Deepinder Goyal founded Zomato in Delhi 12 years ago.
Since May this pandemic year, Zomato has expanded to Turkey, Portugal, New Zealand and Australia to be one of the world’s largest food aggregators, with presence in 24 countries and more than 10,000 cities.
The global food delivery business is expected to reach $8 billion market value by 2022, according to a Boston Consulting Group and Google report.
But the other restaurant industry component of dining out is not likely to contribute much in this period. Even in cities where restrictions have been lifted in India, the few restaurants open for business are running at low capacity.
Kolkata (29 per cent) had most restaurants open in India, followed by Hyderabad (21 per cent), Bengaluru (19 per cent), Delhi NCR (12 per cent) and Chennai (9 per cent). Mumbai has not yet allowed dining out to resume.
