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The future of foodservice to 2016 in India

This report provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the Indian foodservice value chain, and for new companies considering entering the market

Key Market Issues
Constant GDP growth, decreasing unemployment rate, and increasing disposable income strengthening the growth of foodservice industry.
The Indian economy has been growing considerably in the recent past. While the recent global financial crisis negatively affected the GDP there was growth in the economy, primarily in 2008. The GDP growth (constant price) declined to 6.7% in 2008, as against the growth of 9.0% achieved during 2007. However, the economy is slowly regaining its momentum with GDP (constant price) registering a growth rate of 7.2% in 2009. The economy has also experienced declining unemployment rate during the review period, which added to the economic well being of the country. These changes at the macro-economic level have kept the foodservice sales buoyant in the country. With increase in the disposable income the eating out-of-home has also increased.

Inflation in the country remains a concern.
The prevailing inflation in an economy also has considerable impact on foodservices industry. In India, inflation (end of period consumer prices) over the review period, increased from 5.9% in 2006 to 4.04% in 2011, with the year 2007 recording the highest level of inflation at 7.70%.

Increase in female labor force and changing lifestyle in the country is favoring the growth of experience offering foodservice outlets.
Over the years, there has been a sedate rise in the working female population in India. During the review period, female labor force in the country increased from 120,129 in 2006 to 134,885 in 2011. The rise in the female labor force resulted in higher dependence on out-of-home dining, as people faced paucity of time.

Increasing health awareness and rise in healthcare expenditure and obesity driving demand for healthy food items.
Over the years, people in India, primarily in cities have become health conscious, which has resulted in the mushrooming of many fitness and health centers across the country. Furthermore, healthcare expenditure in the country has grown considerably over the past few years and consumers are increasingly becoming couscous of their eating habit.

Inevitable appeal of local food driving the market of India-based (home grown) foodservice operators.
While many multinational brands are present in the Indian market, the Indian consumer still has significant inclination towards local flavors, which have considerable presence across the country through local hawkers or small stall. In the recent past, many home grown fast food outlets have taken these local flavors to the consumers in a much more hygienic way through proper fast food outlets.

Key Highlights
High awareness of diet and obesity lead to increase in organic food sales.
The Indian are acquiring healthy food habits, mainly due to an ageing population and also widespread health awareness. As people are becoming more aware of obesity and other health issues, the demand for healthier food products has risen.

Full Report Details at
- http://www.fastmr.com/prod/436661_indian_foodservice_the_...

by S. C.
31 august 2012, World News > Asia

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