Market Size of india foodservice Industry
|Study Period||2017 - 2029|
|Market Size (2023)||USD 69.78 Billion|
|Market Size (2029)||USD 125.06 Billion|
|Largest Share by Foodservice Type||Full Service Restaurants|
|CAGR (2023 - 2029)||10.21 %|
|Fastest Growing by Foodservice Type||Cloud Kitchen|
*Disclaimer: Major Players sorted in no particular order
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India Food Service Market Analysis
The India Foodservice Market size is estimated at 69.78 billion USD in 2023, and is expected to reach 125.06 billion USD by 2029, growing at a CAGR of 10.21% during the forecast period (2023-2029).
Market Size in 2023 (USD)
Market Size in 2029 (USD)
Largest Segment by Foodservice Type
value share, Full Service Restaurants , 2022
Largest Segment by Outlet Type
value share, Independent Outlets , 2022
Fastest-growing segment by Foodservice Type
Projected CAGR, Cloud Kitchen , 2023-2029
Fastest-growing segment by Outlet Type
Projected CAGR, Chained Outlets , 2023-2029
Leading Market Player
market share, Jubilant FoodWorks Limited , 2022
Increased willingness of people to experiment with new cuisines and dining experiences propelling the market sales
- India is a diverse country with a rich culinary heritage, and people are increasingly willing to experiment with new cuisines and dining experiences. This has led to the growth of specialized restaurants offering unique and innovative dining experiences. Apart from Indian cuisine, other cuisines, such as Lebanese, Chinese, and Japanese, are popular in India. The number of sushi orders increased by 50% from 2019 to 2021. The growing popularity of eating out, changing lifestyles, and increased urbanization are driving the growth of the foodservice market in India. More than 45 million Indians preferred eating out at restaurants in 2021.
- As of 2022, around 24% of the Indian population was vegetarian, and around 9% was vegan. Hence, foodservice players are offering vegan menus to cater to the vegetarian and vegan populations in India. Many quick service restaurants are adapting to this trend and offering vegan menus. For instance, Burger King, Pizza Hut, Taco Bell, and KFC offer vegan dishes.
- The growth of cloud kitchens in India is mainly due to the increasing demand for food delivery services, driven by factors such as busy lifestyles, convenience, and the COVID-19 pandemic. Another factor driving the growth of cloud kitchens in India is the rise of digital platforms for food ordering and delivery, such as Swiggy and Zomato. These platforms provide a convenient way for customers to discover and order from a wide range of cloud kitchen options and for cloud kitchens to reach a large customer base without extensive marketing and advertising. Hence, cloud kitchens are anticipated to register the fastest growth during the forecast period, with a CAGR of 16.67%, by value.
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