Fast Food Industry or Quick Serve Restaurants (QSRs) is a growing and potentially profitable business. India is considered as a new market for it as fast food came to India about 15 years ago. India is a developing country with 2% of organized and 98 percent of unorganized sector. So most of the fast foods that came into Indian market as India has a high growth in every sector. India is blessed with one of the fastest growing fast food markets in the world. The Indian fast food market is flourishing at an annual growth rate of 30-35 percent. Almost all big fast food brands of the world have made their presence felt in India and most of them making an appreciable growth. Although ...view middle of the document...
Many fast food chains are in favor of growing public awareness about nutrition by offering some food that is lower in fat and calories than their normal price.
* Fast Food in India (Why chose India)
Indian Quick Serve Restaurant (QSR) or Fast Food Industry is growing very rapidly. It reflects the change in the lifestyle, eating habits and consumption pattern of the population. The extension of Dining out, ordering from home as well as takeaways is increasingly generating opportunities to cater to a large mass of population. What was the realm of upper class, singles or forced bachelors, has pervaded to all groups of society. The extension and value differ extensively, but perception of such consuming habits is wide spread and is on the increase. Although largely an urban event, the pattern is also raising in rural areas with improved road connectivity, increased vehicle ownership and increased income levels.
In a country with more than a billion people, opportunities are abound in India. This has led to a fast growth of the Fast Food industry.
Amongst the various formats in the organized sector, quick service (or fast food) restaurants (QSRs) have been growing the fastest, registering year-over-year growth of 15-20%—a trend that is expected to continue over the next five years.5 The QSR market in India is worth $13 billion and is dominated by global players like Domino's, McDonald's, KFC, and Pizza Hut.. Indian consumers are more than ever willing to try new cuisines and foods and have the purchasing power to back it up. Increasing brand awareness through travel and media has also fueled the growth of QSRs in India. The rise of large organized retail formats like malls, multiplexes, and food courts has provided ideal spaces for QSRs to set up shop. International fast food brands have teamed up with small Indian franchisors to setup their brands in India, and this route is working out well for the companies.
India is blessed with one of the fastest growing fast food markets in the world. The Indian fast food market is flourishing at an annual growth rate of 30-35 percent. Almost all big fast food brands of the world have made their presence felt in India and most of them making an appreciable growth. Although the market has witnessed sturdy growth in the past few years, it remains largely under pervaded and purposive in the metropolitan cities.
It is estimated through the Euromonitor International and Credit Suisse Emerging Consumer Survey, that the average Indian spends just $ 11 as compared to his Chinese counterpart who would ideally spend $ 20 on fast food. Yet, if we see the Indian spending on food in totality, they spend 23 % of their earnings on the same while the Chinese spending is 20 %. So, the inference that can be drawn is that owing to the eating pattern of Indians they prefer to eat at home and would spend on cooking ingredients over fast food. However, this does not spell good news for the industry.