| dc.description.abstract | With the advent and upsurge of the cheap and affordable 4G technology in less than a decade, soaring smartphone users, appealing food offerings, and convenience of ordering food online drive the Food tech Market in India. The FDA business in India is expected, as per research portal Statista, to expand with a CAGR of 9.5% in 2020-24, ensuing in a market volume of $7 billion by 2024 (Statista Portal). The primary target segments that the FDAs majorly focus on are college students, working couples and office goers. The reason for this focus is the disposable income available in this segment. Other variables influencing the Indian market of FDAs are a wide range of demographics, increasing penetration of internet and smartphones, change in living standards, change in consumption patterns, entry of women in the workforce, high investor interest in the FDA startups and convenience has led to the growth of FDAs in India. However, there are a couple of challenges present in the industry as well like unpredictable demand, environmental variables (like traffic, weather), high delivery cost, highly concentrated demand peaks like in lunch and dinner times, and restaurant operations and maintenance, etc. | en_US |
