The food industry has got a big boom over time and it is due to a change in the eating habits of people. According to Statista, the revenue in the food & beverages market is expected to witness an annual growth at a CAGR of 9.6% during the forecast period, 2020-25.
And this market is projected to reach a volume of US$ 379,650 million by 2025. During the lockdown period, HungryPanda has provided a splendid service to overseas Chinese people who demand for Chinese food. Due to this, it has dominated the food delivery industry.
More Opportunities Due to the Global Pandemic
The global pandemic has affected every business as it has shut down operations all across the world. Although it is not possible for many retail businesses to adapt as per the prevailing pandemic conditions, the food industry has explored new growth opportunities during the pandemic.
Many food delivery systems have adapted to new rules during the pandemic and they have resorted to sustainable business practices to grow their business. HungryPanda is one such food delivery system which has provided delicious food items to people in a safe manner.
Food restaurants are getting benefitted by boosting their online presence with the use of feature-rich food ordering app of HungryPanda. The food delivery company has upgraded its mobile app.
It has included an amended review system, adjustment of score information, and review content of restaurants. Mechants has got benefited in improving their exposure with the help of new HP app.
Specific Groups Demand Special Food Items
Specific groups are now demanding special food items to satisfy their appetites. This has led to a boom in the growth of community-oriented food services. It is due to the difficulty people face to find specific food items for satisfying their hunger.
For Chinese people, it is not easy to find authentic and traditional Chinese cuisine to relieve their homesickness during the lockdown period. Food delivery services are providing Chinese food to satisfy the demand for Chinese customers living abroad.
Several Players Target the Overseas Chinese Market
Different food players are focusing on providing community-oriented food service and they are trying to provide the necessary food items as per the demand of customers. It is noted that several food players are now targeting the overseas Chinese market to provide Chinese people with delicious Chinese food.
However, the openness of the market has given equal opportunities for players to search for growth opportunities in the food & beverages market. Now, different participants in this industry show different capabilities when it comes to providing food services to customers. And only a few food delivery systems such as HungryPanda manage to provide excellent service to customers during the pandemic.
HungryPanda Dominates all Chinese Food Delivery Systems
Although there are a plethora of Chinese food delivery systems available in the market, the popularity of HungryPanda has witnessed a big boom. It is the most impressive online ordering platform that provides Chinese food to Chinese people living overseas.
Established in 2017 by founder Eric Liu, the London headquartered company dominates all the other Chinese food delivery systems. It has grown 30x in a matter of just three years and it is due to its excellent customer service It uses innovative ways to fulfill customers? demands in a sustainable fashion.
Advantages of HungryPanda
During the pandemic Period, HungryPanda has ensured excellent service for its customers. It has arranged a whopping investment of 70mn from various investment companies to improve their services and grow in the market. HungryPanda has worked really hard to focus on expansion of its products, regions, and audiences.
Due to its excellent customer service and improved user experience, HungryPanda has witnessed a boom in its brand value from 1.0 to 3.0. HungryPanda has improved his marketing methods and resorted to sustainable business practices during the post lockdown period due to which it has got benefitted a lot.
In order to eliminate the safety risks associated with dine-in restaurants, HungryPanda has introduced offline meal pickup services for its customers with a heavy discount. It has helped food merchants to earn well by ensuring the incoming of visitors.
HungryPanda has launched online Christmas market to help people purchase food at discounted rates. Due to these revolutionary changes, the food delivery system is dominating the other Chinese food delivery systems.