India is a land of huge diversity, which is not only reflected in the lifestyle of its natives but also in their preferences. Here, taste of water changes at every 10 miles and so thus the choices for food. Hence, a set menu or service offering can’t bring the success in highly competitive food service market in India. According to a latest research by RNCOS, titled “Indian Food Services Market Forecast to 2015”, Indian food services industry is largely driven by the changing consumer preferences. Several consumer-centered parameters, such as change in lifestyle, rising disposable income, economic status, awareness, etc are heavily impacting this sector. Key players in the industry are continuously monitoring such patterns and accordingly offering the innovative and new products. Whether it is health-conscious nature of a particular age group or changing consumer taste; the Indian food service industry has started a regular modification of product and services. Players are getting an incomparable edge through such customization of product and services and consumers also prefer such services.
Moreover, the Indian food service market has witnessed strong growth over the past few years. Liberalization of the economy and growing income of middle-class population have had a positive impact on consumer spending and consumption in both suburban and urban areas. Currently, market growth is largely fuelled by the rising young population, working women, hectic schedules, and presence of massive investments. Some of the unique properties of food service market like quick service; Gift Cards, Loyalty Coupons, home delivery, online ordering, customization of food, etc are making it highly popular among the masses. Thus, India offers enormous opportunities for both domestic as well as international players.
Further, the report also provides the profound investigation of the market by structure, type, and segments. An in-depth analysis of the consumer behavior patterns has been carried on for Tier-I and -II cities by conducting comprehensive primary research and market surveys. In addition, a complete section is also devoted to the analysis of the strategies adopted by players to lure customers and to increase sales. Moreover, the report also covers extensive information on the upcoming investments, mergers and acquisitions, franchising activities, expansion plans of key chains in various segments. Besides we have given individual focus to the growing segments like fast food, full service restaurants, café & bar, 100% home delivery and take-away market, and others food market. The report also gives overview of supply-chain management and regulatory scenario in the country. Thus, it provides valuable information about the food service companies and provides necessary insight for investors looking to enter this market.
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