Ever since the 4g arrived in India, tech-based startups witnessed a huge boom. Out of all those tech-based startups, the FoodTech industry has shown consistent growth. The reason is the fully transparent food ordering system.
The technology had facilitated the food Industry and app development companies to develop convenient platforms where people can order food from. An average consumer looks out for three major areas while selecting a dine-in place. First is the prices, followed by taste and by locality.
The FoodTech companies have a one-shot solution for all these areas of interest. As the food delivery companies have a fully transparent process of displaying the rate lists of every restaurant at once, giving freedom of selecting suitable kitchens to every consumer based on their expense limit.
These application-based startups focus more on the review of their services and food as well as giving consumers ample amount of reviews and feedback of the restaurant before ordering their food.
As far as the location is concerned, one can easily have their favorite food from the comfort of their home or any desired remote locations like gardens or tourist places. For example, you can order better quality food in an unknown city which you are traveling for the first time if you go for online food order rather than the conventional method.
Apart from these major reasons, there are more efforts made by these companies, a huge advertising budget, billions of dollars of funding, and presence on social media platforms give them an upper hand to reach their target audience directly.
These startups also offer huge discounts and offer to their customers on first orders or any festive season, attracting more and more people to join their community.
Time management is also a major reason affecting the growth of this industry positively, a corporate employee working in a 9 to 5 job will find online for orders more practical rather than going to the place and wasting his time and computation charges.
Trends Leading to the Growth of the Food Tech Industry
In the era of digitalization, technology has affected the Food industry in many ways. It has led to increased sales and revenue generation. Some of the trends that helped the Food industry to grow are as follows:
1. Online Delivery System
The major reason for the immense growth of the Food industry is the Online delivery system. This allows the customers to order their favorite dishes while being at home. One only needs a smartphone and internet connectivity. It has made it easy for people to have food without leaving their homes.
Mobile ordering has grown as a trend massively during the covid-19 pandemic. This facility has risen due to lockdown. Worldwide, people are not able to leave their homes because of the coronavirus. Ordering food through online platforms helped the most during these times.
This delivery system ensures safe food and easy transaction of money. It not only helps by delivering food but also generates employment. There is an employment generation due to such online food delivery services. This in turn adds to the development of the country.
2. Mobile Apps For Restaurants
Recently the food industry has started its food ordering app. It shows the menu, reviews, and ratings, approximate costs, etc. This helps the people visiting the restaurant for the first time. The ratings and reviews help the people to decide the place. The type of cuisines and food can be also checked.
Mobile food apps allow the customer to order food and then make payments. The food will be delivered to you within a few minutes, and also an option of cash on delivery. They can even check the pictures of the restaurants online. This provides the customers with an easy way to order food.
The companies must hire a professional android app developer. This will ensure that the application is fully reliable and easy to access to the customers.
3. Small Businesses on Social Media
Nowadays, various small businesses are operating on social media. Platforms like Instagram, Facebook, Whatsapp provide opportunities to people to earn and grow. People can sell stuff online without any restrictions and earn a profit.
Likewise, some people take orders and deliver food to your home. Dessert items are most popular among such small businesses.
These help people to earn well. All you require is a large customer base. A large number of followers on Social media ensures business growth.
4. AI and voice search commands
Artificial Intelligent in the field of the food industry is useful to food delivery companies. Facilities like Voice search and chatbots are a great advantage to the companies. Voice search commands allow people to speak and decide their food.
Even the restaurants can be decided by the voice search services. The food app development companies provide this attractive feature to make the customers engaged. This results in an increase in demand and hence the revenue. It mainly boosts the customer experience and reduces spending.
5. Big Data
The restaurants and cafes need to manage orders to the customers visiting them. They need to prepare bills and take orders. All this requires a lot of manpower and intense work. Technology has made it easy for them by managing and organizing the information as data.
It becomes easy for restaurant managers to manage bills and orders due to the recent technologies in the market. Data management involves securing the data of the customers. It makes the task easy for the management team.
6. Online Transactions
Payment methods like Paytm, Google pay, Bhim app, and many other platforms are now used by people to pay. This is one of the major facilities provided by the food industry. People do not need to carry cash to pay the food bills. They can easily swipe their cards on the machine or pay the bill through online mode.
Popular FoodTech Startups in India
There are various FoodTech startups in India that provide ordering food online facilities. Some of the popular startups are mentioned below:
Swiggy is India’s leading online food delivery platform which was started in 2014. Nandan Reddy, Rahul Jamini, and Sriharsha Majety had this idea of providing people a platform from where they can get food. It has tied ups with various restaurants.
The platform is active across 500 + cities in India. It also consists of a food delivery mobile app which makes it a successful platform.
Another famous FoodTech startup in India other than Swiggy is Zomato. It was initially started by Deepinder Goyal. Zomato provides its services to over 24 countries across the globe.
It also provides facilities like ordering through the mobile app. It helps with rating and reviews to customers visiting them.
There are many other startup-like Dominoes pizza, Daalchini, lapinoz, etc. All these startups are famous in the market, and nowadays they provide the best service to their users.
The factors mentioned above are also making a huge impact on the mentality of large scale and retail investors gaining their trust in FoodTech companies like Zomato listed in the stock exchanges across the nation, hence the sentiment of the market is also building the trust in the company’s name and functionality hence giving them more and more funding to enhance their services and user experience.
The future of the FoodTech industry seems too bright and growing immensely in the coming years.