The food industry, over the last few years, has been flourishing, The Indian restaurants and food services industry has been growing at a healthy pace mainly due to the increasing incomes despite the slowdown in sectors like manufacturing. The growth is supported by long-term healthy demand outlook backed by higher disposable income, favorable demographics and rising aspirations of the burgeoning middle class, increasing internet penetration, increasing number of women joining the workforce, increasing focus on health and wellness, technological advancements and growing urbanization.
The most indispensable segment of the food service industry is the quick service restaurants (QSR) sector, which has grown at a fast pace. The youth being the brand-conscious segment of the population, have contributed largely to the eating-out culture and it is found that a majority of them prefer QSRs. India has observed a significant growth in QSR in the past 10-15 years.
Though a large share of the QSR market rests in metros and mini-metros, like Mumbai, Delhi and Bangalore, they are now expanding into smaller cities with smaller formats. QSRs like Subway, McDonalds, Burger King, Wendy's and Dominos Pizza are spread across various types of cities. Chains like Jumbo King, Goli Vada Pav, Fat Tiger, Burger Singh etc stand in close competition to major national chains in terms of the number of outlets in their respective regions.
This story is from the April-May2023 edition of Bakery Review.
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This story is from the April-May2023 edition of Bakery Review.
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