India Food Service Market Report and Forecast 2024-2032

India Food Service Market Size

The India food service market attained a value of around USD 65.89 billion in 2023. The market is projected to grow at a CAGR of 8.9% between 2024 and 2032 to reach USD 141.93 billion by 2032.

India Food Service Market Outlook

• The Indian population is expected to grow at a rate of 15%-20% over the forecast period.

• In 2023-24, the Indian economy recorded a growth rate of 7% from 2022-23.

• An average Indian consumes 30 cups of tea for each cup of coffee.

India Food Service Market Growth

In 2017-18, investments in the Indian food technology sector surged by over 400%, reaching US$ 370 million. The emergence of app-based food delivery systems like Swiggy and Zomato in India has driven the development of cloud kitchens, which provide consumers with simple homecooked food and premium meals. As per IBEF, there were 20,000 active cloud kitchens in Delhi in 2022, and they are expected to increase by 20% per annum.

Food retailers that serve ethnic Indian cuisines in organised setups are expected to witness great success in the market, as is illustrated by the rapid expansion of restaurant chains like Bikanervala and Haldirams. In the space of casual dining, restaurants serving regional cuisines from Kashmir, Tamil Nadu, and Kerala are expected to witness a surge in demand. Regional cuisines of Northeast, Himachal Pradesh, and Odisha are also expected to become popular in the forecast period.

Biryani has emerged as the most popular dish on online food delivery platforms like Swiggy and Uber Eats in India, with reported sales of over INR 2000 crore. Its popularity has surpassed the consumption of pizzas, burgers, and other fast-food items.

Some kitchen spaces use AI tools and robotic arms to prepare customised meals for consumers while requiring a significantly low investment. This is expected to significantly increase the efficiency of cloud kitchens, further driving their popularity in India.

India Food Service Industry Segmentation

India Food Service Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Sector

• Commercial

• Non-Commercial

Market Breakup by Systems

• Conventional Foodservice System

• Centralised Foodservice System

• Ready Prepared Foodservice System

• Assembly-Serve Foodservice System

Market Breakup by Restaurants

• Fast Food Restaurants

• Full-Service Restaurants

• Limited-Service Restaurants

• Special Food Services Restaurants

Market Breakup by Region

• East India

• West and Central India

• North India

• South India

India Food Service Market Share

Based on restaurants, the market is divided into fast food restaurants, full-service restaurants, limited-service restaurants, and special food service restaurants. Over the forecast period of 2024-2032, fast food restaurants are estimated to grow at a CAGR of 10.3%, due to the increasing proportion of the younger generation demanding delectable convenience foods.

Leading Companies in the India Food Service Market

The market is expected to benefit immensely from the adoption of smart PoS systems, which can gather and analyse previous consumer purchases to enable restaurants to provide a personalised service to customers.

• McDonald’s Corporation

• Domino’s Pizza Inc.

• Yum! Brands, Inc.

• Burger King Corporation

• DD IP Holder LLC (Golden Donuts Inc)

• Tim Hortons Restaurants International GmbH

• J.CO Donuts & Coffee’s

• Nando’s

• Subway IP LLC

• Starbucks Corporation

• Others

Key Highlights of the Report

India Food Service Market Report Snapshots

India Food Service Market Size

India Food Service Market Growth

India Food Service Market Share

India Food Service Companies