Zomato keeps its lead over Swiggy, gross merchandise value jumps 26%

Online food delivery platform Zomato maintained its lead over rival Swiggy with a 55 per cent market share in the food delivery space in calendar year ended December 31, 2022 (CY22), compared with Swiggy’s 45 per cent, according to a note by Kotak Institutional Equities released on Thursday.

Zomato’s gross merchandise value (GMV) for its food delivery business came in at $3.2 billion, up 26 per cent year-on-year (YoY).

Swiggy’s GMV for its core food delivery business came in at $2.6 billion, up 26 per cent YoY, while the GMV of its grocery delivery arm Instamart increased 459 per cent YoY.