Food franchise
market is expected to witness high growth on basis of increased income,
favourable demographics and changing lifestyle in India. International
restaurants have built strong roots in India over the years as young generation
had shown great interest in ready to eat items like burger, pizza and Chinese
foods. Already established players capture maximum market share but still there
are untapped opportunities that should be explored to serve more people.
Growth
India has a
reputation to bring innovations when discussion is about food. Since ancient
time we are experimenting with spices to cook delicious dishes. As population
grows, needs and wants also increase hence international and national players
saw vast growth opportunities in Indian fast food sector. The market for
restaurant is worth US $ 4 billion and is expected to US $ 10 billion by 2020.
Hence over past one decade number of fast food establishments took place in
major cities.
Trends
When fast food
items like burgers and pizzas first introduced by McDonalds there were
protests, people didn’t beef stuffed with breads. The company had to shift
commercial activities as per consumer choice and preference. Since then a path
of growth and success is observed in fast foodservice chains market.
Introduction of Quick service restaurant (QSRs) culture has transformed the way
eat food at outside home destinations. Moreover, online booking system has
brought more convenience to customers. At current scenario, innovations took
place as well as technologies are utilized to provide more benefits to
customers.
Size
Fast food
franchise market is divided into organized and unorganized segment. At present
approximate 30% market is organized and rest is unorganized. However conditions
will improve due to entry of modern-day professional fast food players.
Opportunities
Rising demand
for fast foods resulted in various profitable business ventures. Now it is
become to start foodservice outlet at low cost. It is one of the fast-growing
sectors in coming future.
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