Indian meals aggregator platforms Swiggy and Zomato have featured in world’s ‘Top 10’ e-commerce-based meals supply corporations. Both corporations are a part of over 100 Indian unicorns. Unicorns are corporations with a complete worth of over $1 billion (roughly Rs. 8,000 crore).

A report printed by Canada-headquartered world analysis agency ETC Group titled ‘Food Barons 2022 – Crisis Profiteering, Digitalization and Shifting Power’ positioned Swiggy and Zomato within the ninth and tenth spot, respectively.

According to the analysis agency, the meals supply sector refers to digital, on-demand platforms for ordering and paying for ready meals, groceries and different retail gadgets. Restaurants/retailers fill the orders and couriers ship them to clients inside a prescribed timeframe.

China’s publicly listed meals platform Meituan was on the high of the record, adopted by the UK’s Deliveroo, and the US’ Uber Eats.

Further, Ele.me, DoorDash, Just Eat Takeaway/Grubhub, Delivery Hero, and that iFood discovered themselves within the 4th to eighth spot.

“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 mentioned.

“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,” it added.

Against that backdrop, it mentioned that tweaking the enterprise mannequin to maneuver in the direction of profitability — most prominently by including grocery and pharmacy supply — is presently underway.

The report additionally centered on points confronted by employees within the gig financial system.

Delivery employees, it mentioned, have been thought of impartial contractors as a substitute of staff in most components of the world. They are subsequently ineligible for social safety, damage compensation or different advantages.

“There are indications that some governments may be ready to enact labour reforms to try to end the platforms’ free ride. In the USA, New York City became the first city to pass legislation to regulate the food delivery sector, establishing minimum pay and other worker protections,” the analysis report added.

A significant drawback going through the sector, the report mentioned, is the numerous improve in trash from the takeaway single-use packaging.