Food services industry set to reach $77 bn by 2021 – Feedback

Country’s food services industry is expected to touch USD 77 billion (about Rs 4,98,130 crore) by 2021, growing at an annual rate of 10 per cent, a recent report said.

In 2016, the food services market is expected to be at Rs 3,09,110 crore, where the unorganised sector will account for 67 per cent share with an estimated size of Rs 2,07,635 crore, National Restaurant Association of India said in a report. However, unorganised market is expected to fall to 59 per cent by 2021, the India Food Services Report said. The organized market, which includes chain outlets, standalone eateries and restaurants in hotels, is estimated to grow at 15 per cent to reach Rs 2,04,180 crore by 2021, the report added. “Sound macro-economic performance in turn will help the food services industry to become a key sector of the economy,” the report said. “Over the years, the Indian consumers’ profile, behaviour and spending patterns have evolved with the changing economic, social and demographic landscape,” according to the report.

http://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/food-services-industry-set-to-reach-77-bn-by-2021-report/54506540

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