The latest report by IMARC Group, titled, “India Food Service Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the food service industry in india. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India food service market is expected to exhibit a growth rate (CAGR) of 12.58% during 2023-2028. Foodservice refers to the sale of food products that are prepared for immediate consumption or takeaways and home deliveries. Foodservice outlets are classified into two sectors, including commercial outlets, which include fast-food restaurants, catering, nightclubs, and recreational outlets, and non-commercial outlets, whose operations run inside the premises of hospitals, schools, and military bases. It provides consumers with a wide variety of options to customize their meals according to their tastes and dietary and budget preferences. It includes various kinds of catering companies, fast food or quick services restaurants (QSRs), cafes, bakeries, bars, vending machines, and cafeterias that offer a variety of food products, including ready-to-eat meals, beverages, ingredient mixes, and desserts to the consumers.
Industry Drivers:
The rising number of quick-service restaurants (QSRs) is driving the market in India. Coupled with the busy lifestyles led by working professionals, the adoption of a fast lifestyle and the exclusion of home cooking as a part of household activities are contributing to the market. Moreover, numerous leading players are offering customization in food options in restaurants, which is augmenting the demand for food services. Apart from this, the rising trend of convenient spaces, such as cafes and restaurants among teenagers, families, and young professionals to socialize and relax, is catalyzing the food service market. Moreover, the widespread deployment of internet services and the utilization of mobile devices that enables convenient ordering services are acting as growth-inducing factors.
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Industry Trends:
Several key players are heavily investing in new technologies, such as artificial intelligence (AI) to improve customer experiences and streamline operational costs, which in turn are providing a thrust to the market. Furthermore, the wide utilization of internet of things (IoT) infused equipment and rigid packaging to maintain the product’s temperature, quality and material state is creating a positive market outlook. Moreover, continuous developments in organized distribution channels and the emerging e-commerce sector are impacting the market favorably. Other factors, such as continual developments in attractive packaging solutions, inflating disposable income levels of the masses, the changing dietary patterns of individuals, and the advent of home delivery models, are also influencing the market across India.
Breakup by Sector:
- Commercial
- Non-commercial
Breakup by Systems:
- Conventional Foodservice System
- Centralized Foodservice System
- Ready Prepared Foodservice System
- Assembly-Serve Foodservice System
Breakup by Types of Restaurants:
- Fast Food Restaurants
- Full-Service Restaurants
- Limited-Service Restaurants
- Special Food Services Restaurants
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
