According to the latest report by IMARC Group, titled "India Food Service Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India food service market is expected to grow at a CAGR of 12.58% during 2023-2028. Food service include businesses that are concerned with serving, preparing and delivering food items to the customers. It is categorized into centralized and conventional food service systems, wherein the centralized system involves the preparation of food in bulk, which is later distributed to the kitchens of multiple food joints. On the other hand, preparing and serving food on the same premises is referred to as the conventional food service system. In India, food service is gradually gaining traction due to the convenience offered, along with the escalating preference of the masses to try new flavors and tastes while socializing.
India Food Service Market Trends:
The market in India is primarily driven by significant growth in the food and beverage sector. Along with this, the changing dietary patterns of the masses due to the hectic schedules and busy lifestyles led by working professionals have led to a considerable increase in the demand for food services across the country. In line with this, the rising popularity of international cuisines and the inflating disposable income levels of individuals are providing a boost to the market growth. Furthermore, the proliferation of food outlets and cafes in India is acting as a major growth-inducing factor. Additionally, the introduction of food ordering apps and the advent of home delivery models are creating a positive market outlook. Moreover, the increasing investments by leading players in the development of aggressive marketing strategies, celebrity endorsements and innovative packaging solutions are contributing to the growth. Other factors, including rapid urbanization and the penetration of high-speed internet connectivity, are also positively influencing the market across India.
- On the basis of the sector, the market has been bifurcated into commercial and non-commercial.
- Based on the systems, the market has been classified into conventional, centralized, ready prepared and assembly-serve foodservice systems.
- On the basis of the type of restaurants, the market has been segmented into fast food, full-service, limited service and special food services restaurants.
- Based on the region, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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