Indian food-tech industry to touch $8-bn mark by 2022: Report

Indian food-tech industry is expected to touch the $8-billion mark in the next two years, clocking a CAGR of 25-30 per cent, according to a report by Google and Boston Consulting Group (BCG). The food tech space has in fact emerged as the fastest growing e-commerce segment in terms of reach and engagement, thanks to the rapid advancement in internet adoption and continued investments on consumer trials and delivery satisfaction.

The report, titled ‘Demystifying the online food consumer’, pointed out that factors such as a large variety of cuisines, good discounts and convenience are some of the key reasons driving “recurrent” use of online food ordering apps.