India Food Services Market to Grow with a CAGR of 11.42% through 2030F
The India Food Services
Market is expanding due to rising internet penetration, growing smartphone
adoption, increasing disposable incomes, changing consumer preferences, and the
convenience of shopping from home, driving e-commerce growth.
According
to TechSci Research report, “India Food Services Market – By Region, Forecast
& Opportunities, 2030F”, India Food Services Market was valued at
USD 48.90 Billion in 2024 and is expected to reach USD 93.26 Billion by 2030
with a CAGR of 11.42% during the forecast period. The food services market in India has
witnessed significant growth in recent years, driven by a combination of
changing consumer preferences, urbanization, rising disposable incomes, and an
increasingly busy lifestyle. With a population of over 1.4 billion, India
represents a large and diverse market for food services, which is becoming a
dominant part of the country’s consumer landscape. The growing demand for both
traditional Indian cuisines and international food offerings, the rapid
expansion of food delivery services, and the increasing use of technology in
food businesses have all contributed to the sector’s expansion. Furthermore,
the rising trend of dining out and online ordering, along with the emergence of
cloud kitchens and quick-service restaurants (QSRs), has been a catalyst for
transforming the food services industry in India.
As the country continues to urbanize,
more people are opting for dining out, takeaway, and food delivery due to their
increasingly busy and fast-paced lives. The traditional practice of home-cooked
meals is gradually being replaced by convenience-driven choices, particularly
among young professionals, working women, and millennials. Urban consumers are
also becoming more adventurous with their food choices, with increasing demand
for a variety of international cuisines, including Italian, Chinese, and Mediterranean,
alongside traditional Indian fare. This shift in dining habits is encouraging
food service businesses to diversify their menus, offering a broader range of
food options to cater to diverse tastes. In addition, the growing awareness of
health and wellness is reshaping food consumption patterns. With rising health
consciousness, consumers are opting for healthier alternatives, including
organic, gluten-free, and low-calorie options. This trend has driven the
introduction of health-focused menus by many food service providers, catering
to customers who are seeking nutritious meals and better lifestyle choices. As
a result, there has been a noticeable rise in demand for vegan, plant-based,
and vegetarian foods, particularly among younger and more environmentally
conscious consumers. Food businesses are adapting to these changing preferences
by offering customized, health-conscious meals, further stimulating growth in
the sector.
Digitalization has had a transformative
impact on the India food services market. The widespread use of smartphones and
the growing internet penetration has led to the rise of online food delivery
services, which have fundamentally changed how consumers access food. Apps like
Swiggy, Zomato, and UberEats have become household names in urban and
semi-urban areas, providing consumers with the convenience of ordering food
from a wide selection of restaurants at their fingertips. These platforms have
reshaped customer behavior, offering easy access to different cuisines,
seamless payment options, real-time tracking, and customized food
recommendations. As a result, consumers increasingly prefer ordering food
online, contributing to the rapid growth of the online food delivery segment.
Another significant trend shaping the
India food services market is the rapid growth of quick-service restaurants
(QSRs) and casual dining establishments. QSRs, which offer fast food at
affordable prices, have become increasingly popular due to their convenience
and ability to cater to a wide range of consumers. International fast food
chains like McDonald’s, KFC, Burger King, and Domino’s Pizza have successfully
expanded across the country, adapting their menus to suit local tastes while
maintaining their global brand identity. Similarly, regional QSRs and homegrown
brands are thriving in the market, capitalizing on the increasing demand for
quick, affordable, and tasty food options. The success of QSRs in India is also
attributed to their ability to maintain a standardized experience across
outlets, which resonates with consumers looking for consistent quality and
value for money.
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"India Food Services Market”
The India Food
Services Market is segmented into market type, type, ownership, brands and
region.
Based
on type, QSR (Quick Service Restaurants) is the fastest-growing
segment in the India food services market, driven by rising demand for
affordable, convenient, and fast dining options. With busy lifestyles and
increasing urbanization, consumers, particularly millennials and young
professionals, are increasingly opting for quick and easily accessible meals.
Major international and regional brands, such as McDonald's, KFC, Domino's, and
local chains, are expanding rapidly across the country, offering diverse menus
tailored to local preferences. The success of QSRs lies in their standardized
operations, speed of service, and value for money, which are resonating well
with India's growing middle class.
Based
on region, West region of India, including major cities like Mumbai, Pune,
Ahmedabad, and Surat, is rapidly emerging as the fastest-growing market in the
food services industry. This growth is driven by a combination of factors such
as a large urban population, rising disposable incomes, and a growing
preference for dining out and food delivery. The region’s thriving business
hubs and expanding middle class are fueling demand for both quick-service
restaurants (QSRs) and casual dining establishments. Additionally, Western
India’s diverse food culture and the popularity of international and regional
cuisines make it an attractive market for both global and local food service
brands.
Major companies
operating in India Food Services Market are:
- Jubilant
Foodworks Ltd
- McDonald's India Private Limited
- Haldiram Snacks Private Limited
- Devyani International Limited
- Burger King India Limited
- Barbeque-Nation Hospitality Limited
- Coffee Day Enterprises Limited
- Tata Starbucks Private Limited
- Bikanervala Foods Private Limited (BFPL)
- Subway Systems India Private Limited
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“The India food services market is on an
upward trajectory, driven by changing consumer preferences, urbanization,
technological advancements, and the growing demand for convenience. The
expansion of quick-service restaurants, cloud kitchens, and online food delivery
services has opened up new avenues for growth. However, businesses must
navigate challenges related to competition, operating costs, and regulatory
compliance to remain successful. With the right strategies in place, the future
of the food services market in India looks promising, offering significant
opportunities for innovation, expansion, and customer engagement.”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“India Food Services
Market, By Market Type (Organized, Unorganized), By Type (Dining Service
(Hotels, Restaurants), QSR (Quick Service Restaurants), PBCL (Pubs, Bars, Clubs
and Lounges), Others (Cafeteria, Cloud Kitchen, Catering and Vending)), By
Ownership (Standalone Outlets, Chained Outlets), By Brands (Domestic, International),
By Region, Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential
of India Food Services Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the India Food
Services Market.
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