Market Size of india full service restaurants Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 34.03 Billion |
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Market Size (2029) | USD 59.09 Billion |
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Largest Share by Cuisine | Asian |
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CAGR (2024 - 2029) | 11.67 % |
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Fastest Growing by Cuisine | Latin American |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Full Service Restaurants Market Analysis
The India Full Service Restaurants Market size is estimated at 34.03 billion USD in 2024, and is expected to reach 59.09 billion USD by 2029, growing at a CAGR of 11.67% during the forecast period (2024-2029).
34.03 Billion
Market Size in 2024 (USD)
59.09 Billion
Market Size in 2029 (USD)
4.17 %
CAGR (2017-2023)
11.67 %
CAGR (2024-2029)
Largest Segment by Outlet Type
73.14 %
value share, Independent Outlets, 2023
A diverse range of cuisines and dining experiences catering to unique tastes by leveraging digital technologies have given a boost to the segment in India.
Largest Segment by Cuisine Type
72.26 %
value share, Asian, 2023
The emergence of new and innovative Asian restaurant concepts that offer high-quality food, great ambiance, and impeccable service is expected to drive growth in the region.
Fastest-growing segment by Outlet Type
12.71 %
Projected CAGR, Chained Outlets, 2024-2029
Increasing preference by consumers for high-quality, standardized dining experience, and ability of chained outlets to offer consistency and reliability is driving the growth.
Fastest-growing segment by Cuisine Type
15.89 %
Projected CAGR, Latin American, 2024-2029
A growing interest in unique and diverse food options, such as tacos, burritos, and ceviche, is driving the demand for Latin American cuisine in the region.
Leading Market Player
0.75 %
market share, The Indian Hotels Company Limited, 2022
IHCL, a leading player, brings together a group of brands that offer a fusion of warm Indian hospitality. It won three awards in multiple categories at the HICSA Hotels.
Residents looking for international cuisines and increased dine-out culture fueling the sales
- Full service restaurants in India are majorly driven by the rise in the consumption of different varieties of Asian cuisine, including Chinese, Indian, Japanese, and Pan-Asian. Indian cuisine is significantly influenced by East Asian culture and is particularly popular among the younger generation. As of 2023, nearly 60% of India's younger generations prefer to eat Chinese food outside the home more than three times per month. Indo-Chinese cuisine is important to the country; most large-scale restaurants provide Chinese cuisine spiced with Indian ingredients to suit Indian tastes.
- Indians are more open to spending money to try out various international cuisines. Italian cuisine has gained a lot of popularity, with the rise in consumption of pasta, pizza, lasagna, and spaghetti over the last few decades. European cuisine developed popularity among Indians and found a place in the market due to its extensive menu offerings. From 2020 to 2021, Indians spent nearly USD 446 on restaurants and hotels annually. This has encouraged large-scale operators to expand into the nation's luxury hotels and resorts with various European cuisines and desserts. Popular Italian restaurants are located in the country's top-rated luxury hotels, including Tre-Forni, Tuscany, and Prego.
- Latin American restaurants are anticipated to register the fastest growth in the full service restaurant segment, with a projected CAGR of 14.28% during the forecast period. This is due to the growing popularity of Mexican food among the younger generations. Tortillas, tacos, nachos, Mexican flatbread pizza, quesadillas, and burritos are some popular Mexican dishes. Burritos are considered a nutrient-rich food, and nearly 19.9% of eateries offer them.
Understand The Key Trends Shaping This Market
