The Indian food services market is on a growth trajectory, expected to reach a whopping ₹10 trillion by 2030. A number of factors are fueling this exciting forecast for culinary fusion, including:
The number of people consuming food services is expected to surge by 110 million, reaching 430-450 million by 2030. This growth is attributed to factors like rapid urbanization and rising disposable incomes.
Eating out is becoming more commonplace in India. Currently, Indians dine out an average of 5 times per month. However, this number is expected to climb significantly by 2030. Developed nations like the US and China mirror this trend, with eating out seen as a convenient option.
Online food delivery is a major growth driver. Market penetration will nearly double from 12% in 2023 to 20% by 2030, reaching a market size of ₹2.12 trillion. Digitization and a surge in smartphone use are driving this trend.
- Consumers are increasingly prioritizing their well-being, leading to a demand for healthy and convenient food options.
- Diners are seeking out unique and memorable dining experiences.
- Technology is playing a growing role in all aspects of food service, from online ordering to restaurant operations.
- The world’s flavors are colliding on our plates as global cuisine gets a local twist, creating exciting culinary fusions.
The Indian food services market will undergo a remarkable transformation in the coming years. By capitalizing on these trends, businesses can be blooming in this dynamic and ever-evolving landscape.
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