Food industry has been booming in recent times. One of the factors responsible for this is the rising disposable income of the middle class which, according to NRAI, is expected to rise to Rs 51,000 crore in 2021, from Rs. 20,400 crore in 2016. Quick Service Restaurants’ business has been growing exponentially and is expected to touch Rs. 25,000 crore by 2020. The increasing demand has not only prompted international chains from expanding their business in India but has also tempted several Indian entrepreneurs to jump into the fray. Several new ones are eyeing the market with interest. Ashok Malkani presents a kaleidoscopic image of the QSR industry to enable newcomers make a success of their proposed project.
India’s QSR market, which is growing at a CAGR of 25 per cent due to rapid urbanisation and increase in spending power of the middle class and millenials, has not only encouraged the global brands to expand their footsteps in India but has also prompted Indian entrepreneurs to venture into this field. The quick service restaurant (QSR) sector is, according to Assocham, expected to reach Rs 25,000 crore within the next five years. This is because the rate of Indian population eating out is comparatively low to countries like the US, Brazil, Thailand, China, etc. According to industry body, National Restaurant Association of India (NRAI), quick service restaurants (QSR’s) like Pizza Hut, Burger King, Goli Wada Pav, Burger Singh, etc have been growing exponentially in the recent times.
Research firm Euromonitor states that Families in Tier-I cities spend about Rs 6,000 annually on eating out, whereas families in Tier-II cities spend Rs. 1,500 to 2,000, annually. Burgers are believed to be all-day escape and fun food while pizzas are becoming meal replacement and comfort food.
Quick Service Restaurants, which have been a key segment for the Indian Food Services market, have grown over the last decade mainly because they have concentrated on competitive pricing clubbed with catering to the tastes of the consumers. Several international chains have had to make alterations in their menus to suit Indian taste buds. Today the market is quite competitive in nature, with players operating via core menu offerings and introducing variations in Indian and international foods.
Denne historien er fra February -March 2019-utgaven av Bakery Review.
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Denne historien er fra February -March 2019-utgaven av Bakery Review.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Caffe Allora Expands
Caffe Allora, the renowned Italian bistro, unveils its latest venture with the opening of its sixth outlet at Phoenix Mall of Asia, Bangalore.
Atelier V Expands Offerings
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Indulge in 'Nostalgia'- The Old School Bakery
Bandra's newest Nostalgia Cafe and Bakery, where your dreams come true to relive the simpler moments as you indulge in a few nostalgic snacks and comfort drinks.
Success of Bakery Outlets
The bakery and confectionery business in-modern India has a great potential This is natural considering to grow the fact that today's urban India has huge numbers of nuclear families, many of whom have very little time at their disposal to cook elaborate meals.
The Priceless Spice
To put it simply, saffron is a spice. Of course, this definition also needs to be followed by several descriptions and explanations. One of them is that saffron is the costliest spice on the planet, by weight.
The Indian Cottage Cheese
Paneer is the most in-demand dairy product in India. It is a fresh and delicate cottage cheese or milky cheese, rich in all nutrients as well as delicious in taste. In the Indian subcontinent, many people have derived a method to preserve fresh milk in the form of paneer. Paneer, the Indian cottage cheese is comparable to the popular western ricotta cheese both in terms of texture and taste.
Key Bakery Trends
One of the largest segments in the food processing sector in India, Bakery industry is poised to witness remarkable growth.
Breaking Fast
The role of breakfast in our daily routine cannot be overstated. It is perhaps the most important of all meals; a hearty breakfast can greatly facilitate to give a good and cheerful start to the day.
Market for Healthy Bakery Ingredients
The bakery market, according to IMARC, is likely to grow at a CAGR of 9.9% between 2024-2032. The growth has been mainly because the industry is aware of the consumers' growing demand for healthy low trans-fat, bakery items and is making all efforts to meet this requirement. The basic ingredients thus need to be altered and this provides a prodigious opportunity for an enterprising entrepreneur to venture into a lucrative market - The Bakery Ingredients Market. But for this the entrepreneur has to make a thorough study not only of the growing needs of the industry but also the different healthy ingredients that the industry will need in the future. Ashok Malkani deliberates on the healthy raw materials that are likely to be used by the industry, thus enabling the entrepreneurs, keen on entering the business, to succeed.
International Snacks
International snacks like doughnuts, burgers and waffles have today become common among not only the millennials but people of all ages. Their popularity has become equivalent, if not more, than that of the Indian snacks. Their adaption to suit the Indian palette, have contributed to their widespread consumption. Ashok Malkani delves on the factors contributing to their finding favour with the populace and their future.
