Due to some favourable socio-economic factors, India’s QSR market is growing impressively. According to an ASSOCHAM’s report dating back to 2015, the quick service restaurant sector in India was growing at a CAGR of 25 percent, and was likely to touch Rs.25,000 crore mark by 2020 from Rs.8500 crore in 2015. Ashok Malkani explores the happening QSR business scenario in India, where several international brands like McDonald’s, KFC, Subway, Domino’s Pizza and others have established themselves and by tailoring their offerings to Indian tastes, they have scripted or are scripting success stories in India’s QSR business.
Large youth demography, shortage of time and growing trend of experimentation is making burgers and pizzas the favourite snacks among many urban Indians, which is amply manifested by thick crowd of all ages at the outlets of McDonald’s, Subway, Pizza Hut, Domino’s, etc. across the metros of urban India. And this trend is percolating to smaller cities and towns of the country too.
An Impressive Growth Story
With up to 60 percent of our population being under 30 years of age, and with many of them having shortage of time and influence of western eating habits, it is but natural that they would opt for quick and tasty bites at QSRs at pocket-friendly prices.
The increase in disposable incomes in select but sizeable pockets of urban India during the last decade-and-a-half has also contributed to the growth of the QSR segment in India. The number of Indian households with an annual income of over 5,000 USD has increased over the past decade, resulting in private consumption to double than that of a decade ago.
It is no wonder that according to a report by CyberMedia Research (CMR), the market for organised food service industry in the country will reach 33 billion USD by 2020, with QSR segment likely to attain a figure of 4.1 billion USD by 2020. This data may excite many new players to enter India’s promising QSR segment with their burgers, pizzas, sandwiches, patties or croissants in the near future.
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