India, Feb. 13 -- Amid raging competition in India's quick commerce space, brokerage firm Citi has said that Zomato-owned Blinkit and Zepto have captured a larger market share in the rapid delivery space, leaving behind Swiggy Instamart.

Zomato's market share is estimated at 41%, while Zepto is projected 'par/higher than Swiggy', based on data traffic trends and industry reports, pushing Sriharsha Majety led company to the third place.

"In Quick Commerce, Swiggy may be in the third spot in terms of market share behind Blinkit and Zepto," Citi said in the note, adding that its market share in the quick commerce space is estimated at 23%.

The note also highlighted a gap in unit economics, mentioning that the cash burn rate for Swiggy is ...