Zomato, Swiggy post Q4 food delivery growth rebound

Zomato and Swiggy reported a rebound in India’s food delivery growth for Q4 2025, with Zomato’s gross order value rising by 21.3% and Swiggy’s by 20.5%.

Both companies focused on attracting budget-conscious and health-focused customers, offering lower delivery costs and loyalty rewards.

Zomato’s market share increased to 57.3%, while Swiggy’s declined slightly to 42.7%.

Monthly transacting users rose by about 21% for both platforms, reaching nearly 25 million for Zomato and 18 million for Swiggy.

The companies also increased platform fees, contributing to improved profitability, with Zomato’s adjusted EBITDA up 25% and Swiggy’s by 48%.

Industry analysts noted that the food delivery market is expanding, driven by affordability and new customer segments, amid rising competition from players like Rapido and Flipkart, which are exploring entry into the sector.

🔗 Source: The Economic Times

🧠 Food for thought

Implications, context, and why it matters.

New rivals are attacking the core business, not only market share

New challengers such as Rapido and Flipkart are moving beyond customer discounts and taking aim at how the Zomato Swiggy duopoly makes money.
Ride hailing firm Rapido is launching “Ownly,” a food delivery platform that takes zero commission from restaurants, unlike the roughly 25% to 35% commissions charged by incumbents 1.
Rapido says it plans to shift to a flat subscription fee for restaurants, which would reshape how the service earns revenue 1.
The project is being built with the National Restaurant Association of India (NRAI). The group earlier tried food delivery through ONDC (Open Network for Digital Commerce) buyer apps, which Rapido calls a fragmented experience 1.

India’s food delivery fight puts platform pricing under pressure

The clash tests whether high commission aggregator approaches can hold up against lower cost options that give restaurants more room to breathe.
Zomato and Swiggy have improved profitability in part by raising platform fees. Rapido is betting that removing commissions and keeping online menu prices aligned with offline prices will pull in restaurants and users 1.
Traction for zero commission delivery could offer a playbook for taking on entrenched players in e commerce and ride hailing.
The result will test whether a large existing user base can fend off a newcomer focused on rewriting the business math.