The report said recent moves by new entrants, including Rapido and Flipkart, have the potential to broaden the addressable market for food delivery by targeting lower-value orders and consumers outside the top metropolitan centres. "Food delivery still caters to a small subset of India," the report noted, adding that food delivery accounts for just over 15 per cent of the country's food services market despite the strong growth witnessed in recent years. According to Bernstein, one of the biggest consumer benefits from new entrants could come through lower average order values (AOV) and improved penetration in smaller cities. However, Bernstein cautioned that any meaningful reduction in prices for consumers would depend on whether new platforms can sustainably reduce delivery and operating costs. In the near term, Bernstein expects competition to intensify as new platforms use aggressive incentives to attract customers.