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.
This story is from the February -March 2019 edition of Bakery Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February -March 2019 edition of Bakery Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
My Approach is Both Strategic and Creative, Aiming to Inspire and Innovate
Ravi Rawat is the newly appointed Assistant Pastry Chef at Sheraton Grand Bengaluru Whitefield Hotel and Convention Center.
The Freezer Aisle Secret: Why Frozen Vegetables Might Be Your New Go-To
We often buy vegetables from local vendors, but how much do we really know about their origin and safety? Fresh produce has long been seen as the pinnacle of healthy eating, but there's a surprising contender: Frozen Vegetables.
Quintessence of Christmas Baking
Most festivals around the world have dedicated foods - easter eggs, Eid sweets or mutton, Holi sweets and Diwali specialities.
Berry Teeming with Health
Cranberries can be described as a group of evergreen dwarf shrubs or trailing vines, going up to 2 metres in length.
The Proof of the Pudding
They say the proof of the pudding is in the eating. Well, this age-old proverb holds true for all things and persons in life, which also includes pudding.
Market for Cookies
Cookies are gaining ground. According to Al Review cookie market which was valued at Rs. 405.29 billion in 2023 was expected to grow at a CAGR of 5.9% from 2024 to 2032. Institute for Industrial Development IID) is of the view that cookies manufacturing is one of the lucrative businesses. It believes that one can make a profit of up to 12-15 per cent. It thus provides an ideal opportunity for an intrepid entrepreneur to venture into this business. Ashok Malkani views different aspects of the industry like its growth potential, challenges faced by the market, and the basic necessities essential for an entrepreneur to enter into this lucrative arena.
Smoothies The Superb Superfood...
Smoothies have become popular over the past decade. Modern smoothie, which is believed to have been invented in the United States, made its way to India through a Smoothie chain in 2016. Hyderabad based, Drunken Monkey, which started in 2016 with its first smoothie bar, now has over 100 stores. One can gauge the popularity of this drink by this fact. Today, India is believed to have about 7000 smoothie bars, cafes and bakeries. The rise of smoothie culture is believed to have been driven by several factors like health awareness, disposable income, convenience, et al. Ashok Malkani delves on various aspects of this drink.
Bakels Launches Renshaw in India
Bakels, a global leader in the bakery ingredients industry, proudly announced the launch of Renshaw in India at a event held at the Bakels Baking Center.
Premium Chocolate Meets Ice Cream
SMOOR, the country's most preferred luxury confectionery brand, has announced its collaboration with Hangyo Ice Creams.
Cothas Coffee Completes 75 Glorious Years
Cothas Coffee, a household name in coffee, completes 75 glorious years of serving the best filter coffee to coffee lovers across Karnataka and India.
