Wednesday, February 19, 2025

India’s food services market to hit $152 Billion by 2030

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India’s food services market, valued at $80 billion in 2024, is projected to grow at a 10-11% CAGR, reaching $144-152 billion by 2030, according to Redseer Strategy Consultants. The organised sector, now accounting for half the market, is expanding rapidly, fueled by online food delivery and new brand entrants.

Consumers in metro and tier-1 cities are increasingly dining out and ordering in, viewing meals as social experiences. Social media, pop culture, and a growing appetite for variety are further driving demand for niche cuisines.

Multi-brand strategies are emerging as a game-changer, helping businesses scale efficiently, mitigate risks, and cater to diverse customer segments. Cloud kitchens, in particular, are challenging traditional dine-in models, delivering higher revenues per kitchen and enabling brands to scale 2-3 times faster.

“The plug-and-play model of cloud kitchens allows brands to reach Rs. 100 crore revenue in just 2-3 years, compared to 6-10 years for dine-in brands,” said Rohan Agarwal, Partner at Redseer. He emphasized that agility, operational excellence, and innovation are key to thriving in this evolving sector.

While single-brand restaurant models face growth limitations, multi-brand players—leveraging acquisitions and cloud kitchens—are set to capture a larger market share. However, the report warns that merely expanding store counts may not guarantee success, as evolving consumer preferences demand more diverse and innovative dining experiences.

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