The F&B space, primarily the restaurant sector in India is set to grow at a rapid pace as Tier-2 and Tier-3 regions are set to drive growth, according to Indian Restaurant Congress 2017. The size of total food market in India was seen at ₹3,09,110 crore ($48bn) in 2016, growing at a CAGR of 10% and touted to reach ₹4,98,130 crore ($77bn) by 2021.
As for beverages, Indian filter coffee is also making a comeback with PAN India growth plans as Coffee Board of India plans a marketing and branding push to expand this niche market. In India, the ratio of coffee to tea consumption is 1:16. And the same ratio widens to 1:60 if North India is taken into consideration.
“Our vision is to create a pure Indian filter coffee. By next year, we will have modern, clean, cool and affordable Coffee Houses across India offering Indian filter coffee and snacks. Till now, India has been a tea country, my objective is to also make it a coffee country,” Mr. Srivatsa Krishna, CEO & Secretary, Coffee Board of India said.
Mr. Zorawar Kalra, Founder and Managing Director, Massive Restaurants, and Conference Chairperson for the Indian Restaurant Congress 2017 said, “We are an important industry in India. Indian restaurant market is 40 times of Bollywood. Indian food industry is producing 2 per cent of Indian GDP and is second largest employer of human capital in India after agriculture. As the Indian middle class is now spending more and more, food sector will automatically receive larger share out of their spending”.
He was also awarded the 'National Restaurateur of the Year' Award at this congregation which he attributed to the 1500-employee-strong Massive Restaurants which has Farzi Cafe, Made In Punjab, Pa Pa Ya, and Masala Library under its umbrella.
This year restaurateurs, chefs and industry leaders including Celebrity Chef Ranveer Brar, Mr. Unnat Varma (MD, Pizza Hut - India Subcontinent), Chef Gautam Chaudhary (Michelin Recommended Chef at 38 Barracks), Mr. Ashish Kapur (Founder & Director, Moods Hospitality Pvt. Ltd.), Mr. Sameer Bhasin (CEO, Barbeque Nation), and Mr. Varun Tuli (Director, Yum Yum Cha) were attending the event.
"Today's consumers who are drawn to an experiential dining experience are willing to pay more, too. Indian Restaurant Congress 2017 will share the building blocks of the food service in an innovative ecosystem. It is the platform where restaurants, chefs, brands would find future business models and ideas to address tomorrow's market demand", Ms. Ritu Marya, Director and Conference Convener, Franchise India said.
North Indian is the highest preferred cuisine by Indians at 28% preference followed by Chinese at 19% and South Indian at 9%. Many Indian restaurants are now also looking to expand to global markets apart from the UK in the fine dining space.
Restaurant India 2017 is the unanimous voice of the restaurant and food business in India. Restaurant India works in conjunction with all stakeholders for creating a conducive environment for the growth of the modern food and restaurant industry in India. It encourages, develops, facilitates and supports restaurants to become modern and adopt best futuristic business practices that leave a positive impression in the customers mind. Restaurant India 2017 had a threefold aim of disseminating information through the congress, felicitating the achievers and best practices through awards and showcasing leading industry products through exhibition, and was held successfully over the past couple of days.
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