9 months ago

India's Food Services Market to Hit $125B by 2030

India's Food Services Market to Hit $125B by 2030
Late Night , healthy food ordering on the rise, Indian food services to cross $125 billion by 2030 · thehindubusinessline.com

India's food services industry is expected to grow a lot by 2030, reaching $125 billion.

This growth is happening because people have more money to spend, they use digital services more, and they want convenient food options.

Late-night food deliveries are becoming very popular, especially for items like pizza, cakes, and soft drinks.

Health-conscious food choices are also growing faster than other types of food.

People in India are trying new types of food, both from different regions within India and from other countries like Korea, Vietnam, and Mexico.

The organized part of the food industry, like cloud kitchens and quick service restaurants, is growing faster than the unorganized part.

This growth is not just in big cities but also in smaller cities and towns.

Fine dining in India is also changing, moving away from familiar dishes like butter chicken to more regional and authentic foods.

Chefs are using traditional cooking methods and focusing on the unique flavors and stories of different regions.

Diners are becoming more interested in where their food comes from and the history behind it.

This shift is making Indian fine dining more diverse and culturally rich.

Key facts

Projected Market Size
Current Market Size
Growth Rate
10% CAGR
Organized Segment Growth
12-14% CAGR
Organized Segment Share
Over 60% of incremental growth by 2030
Key Growth Areas
Cloud kitchens, QSR, desserts, late-night dining, health foods
Late-Night Growth
3x growth compared to dinner
Health Food Growth
2.3x compared to overall order growth
Hyper-Regional Cuisine Growth
Goan, Bihari, Pahari cuisines growing faster than mainstream
Global Cuisine Growth
Korean (17x), Vietnamese (6x), Mexican (3.7x)

Timeline

  1. ITC buys brands like Yoga Bar, eyes growth in food biz.

  2. Invests Rs 20,000 crore, expands into food-tech.

  3. Food-tech push sparks demand for healthy, convenient eats.

  4. Late-night deliveries, global cuisines fuel food craze.

  5. India's food services industry to hit $125B by 2030.

Quotes

Rohit Kapoor

CEO of Swiggy Food Marketplace

“In a span of just over a decade, the industry has seen disproportionate evolution. Expectations on speed are being shaped by quick commerce; for instance, our 10-minute food delivery service Bolt contributes over 10% of platform orders.”
businesstoday.in

Rajat Tuli

Partner, F&B Lead and QSR Asia Lead at Kearney

“GenZ offers high promise, growing 3x of other cohorts in the dining-out segment while demanding innovations like coffee raves and Instagram-worthy locations and menus. The next wave of leadership in food services will come from players who understand these new markets and consumers. Additionally, in food delivery, packaging innovation will substitute for format in dining-out.”
businesstoday.in

Sources

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