The report, published by Rabobank’s Food & Agribusiness Research and Advisory department, says that rapid change in food consumption habits in India has spurred domestic and foreign quick service restaurant (QSR) chains to implement aggressive expansion plans.
Total industry size for the Indian foodservice sector was $8.6bn in 2011, and is expected to grow at a compound annual growth rate (CAGR) of 10% until 2015.
Out of this total, the QSR segment is worth $600m and is expected to grow at a CAGR of 30% over the same period. At present, according to the National Restaurant Association of India, 50% of Indian consumers are eating out at least once every three months, and this shift is epitomised by the growing presence of QSR concepts, among them many global QSR players.
Source: Rabobank
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