24 - Jun - 2022

Over the recent past, the food industry has gone through some major changes and revolutionary moves. Customers now get the chance to order food online easily and get it delivered to their homes within a short time span. Currently the growth rate for the online food ordering and the delivery from restaurant has been more than 20% over the last 5 years. There is a booming business in terms of Islandwide food delivery in Singapore these days.

Even though the estimates are subject to differ from one location to another, the rates of the online food delivery are expected to hike to over $220 billion by the time 2025 comes. That will translate to around 40% of the total restaurant sales.

Right now, there is a growing demand of vegetarian food because people love to remain healthy and take care of the animal world at the same time. So, they are in search for the best vegetarian restaurant, delivering food items to your home.

The right changes that are taking place:

With all the changes that have occurred in food ordering and delivery sectors, the restaurants always have to stay abreast of what is happening in the said market.
  • It might prove to be the perfect time to identify some of the new opportunities available in the market and then invest in right sector of the said industry.
  • The numbers are not likely to lie when it comes to the growth in online ordering and also delivery of foods.
  • When it is about the percentage, around 42$ of the overall food ordering market will be now placed online.
  • Collectively, the annual growth rate of the said industry is likely to be around 3.7% with online ordering.
  • On the other hand, the online ordering and the Islandwide food delivery option is growing at an annual rate of around 15 to 20%!

Food delivery business is at the rise:

With the changes that are taking place in the food delivery business, over half of the customer orders are delivered straight from the restaurant’s website or apps to the customers.
  • Restaurants along with the other food businesses are currently handling digital ordering and food delivery in multiple ways.
  • While some would like to work from their independent platforms, there has always been a significant rise in the third-party platforms as well.
  • You can see some of the hybrid delivery platforms, which are eating some part of the market share and transforming how the ordered food is likely to get delivered!

A business on its own:

It is not that hard to state that the food delivery has currently become a business on its own with multiple platforms, competing in order to secure a market share. Even though these platforms attract huge investment, they are transforming the entire field of food delivery business. In case you are looking for vegetarian cuisine, give Shivam Restaurant a try. Visit it at 87 Syed Alwi Rd, Singapore 207666 and get impressive food items to try out.

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