India Food Service (Dining Service, QSR, PBCL) Markets, Competition, Forecast & Opportunities, 2018-2021 & 2022-2028F: Higher Experiments in The Food Segment & Growing Middle Class Fueling Growth – ResearchAndMarkets.com – Business Wire

DUBLIN–()–The “India Food Service Market, By Market Type (Organized Segment and Unorganized Segment), By Type (Dining Service, QSR, PBCL), By Ownership, By Domestic Vs. International Brands, By Region, By Top 3 Leading States, Competition, Forecast & Opportunities, 2018-2028F” report has been added to ResearchAndMarkets.com’s offering.

India’s food service market is anticipated to project robust growth in the forecast period with an impressive CAGR of 11.19% and reach USD79.65 billion by 2028F on account of changing lifestyles, rising health consciousness, a large number of youthful and working population, who are well-traveled, have double incomes, and are experimental as well as tech-smart, eat out more than their forefathers.
The online food delivery segment in India operates mainly under two business models: Restaurant food through consumer delivery, in which meals are ordered online through a restaurant website and delivered directly by the restaurant without any intermediaries (e.g., McDonald’s, Domino’s Pizza, Burger King). And another is through a consumer delivery platform where the meals are booked online through a third-party network that handles delivery independently of the restaurant (e.g., Zomato, Swiggy, UberEATS).
In the Food Services industry, a few important trends are gaining popularity. Consumers in cities are beginning to adopt virtual kitchen. Ordering in has become a crucial part of the dining experience, and several logistics companies are now offering last-mile delivery services to restaurants.
With most individuals working from home following the COVID-19 pandemic guidelines, the food service sector has seen a subsequent decline in demand for food services in India. People became more concerned about purchasing daily necessities and homemade food due to the COVID-19 pandemic.
Consumers have grown more health-conscious due to the pandemic, and their preference for improved cleanliness habits is projected to increase dramatically. As a result, all the restaurants and QSRs are increasingly focusing on providing customers with a safe, clean, hygienic, and healthy environment.
Higher Experiments in The Food Segment Drives the Market Growth
The well-traveled, vibrant middle class, which is exposed to global trends in terms of newer formats and cuisines, as well as seamless interaction facilitated by the growth of multiple communication channels such as the internet and mobile phones, is willing to spend money on dining experiences similar to those found around the world. As a result of these reasons, plenty of new restaurants have sprung up, serving cuisines from far-flung areas of the country.
Growing Middle Class is Fueling the Market Growth
An increase in households earning between USD10,000 and USD50,000 per year will increase the group’s indulgence spending. This element is predicted to outpace the increased spending on eating out, luxury goods, consumer durables, and other consumption categories. India is expected to account for 23% of the global middle class.
Furthermore, India’s working population favors all the food innovations to reduce the extra efforts, and food service seems to be a more convenient factor nowadays.
Increasing Share of Food Delivery and Take-away aids Market Growth
The rise in busy lifestyles and hectic schedules of the population, expanding urbanization, quick access to mobile phones, increasing use of e-Commerce, increasing demand for fast foods, and expanding internet penetration for ordering food online have boosted various food chain restaurants to incline towards online distribution channels to boost their overall sales.
Over the last several years, delivery aggregators such as Zomato and Swiggy have expanded their presence in the Indian market, contributing to its growth.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India food service market.
Report Scope:
India Food Service Market, By Market Type:
India Food Service Market, By Type:
India Food Service Market, By Ownership:
India Food Service Market, By Domestic Vs. International Brands:
India Food service Market, By Region:
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

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