Pune, March 19, 2017: Western India Quick Service Restaurant (QSR) market, which remains a top region to invest in for both global as well as domestic investors, is expected to grow by 22 per cent to cross Rs 24,665 crore by 2021.
This announcement was made on Sunday at Restaurant India’s Western Edition themed around ‘A Bite of West India– Innovation with Growth’, at Westin Pune.
With rising disposable income and time poverty, eating out has tremendously grown in India with consumption expenditure accounting for 60% of the total GDP.
Many global chains as well as domestic restaurants have expanded at a rapid pace in the Western region. Over 30% of all chain QSRs and highest share of Cafe outlets at 45% are present in the Western region indicating strong demand and growth.
“The Restaurant Market in West India is clearly calling for an exponential expansion, requiring brands to open more restaurants at faster pace and in optimal locations,” says Mr. Gaurav Marya, Chairman, Franchise India, adding that, as Indian palate gets more diverse, restaurant owners must find a niche market, distinguish themselves from their peers, and maintain a nimble attitude. Majority of the beneficiaries will be the stand alone restaurant operators expanding in an organised format.(Restaurant India is part of Franchise India)
Western region was the first region to create nightlife scene in Indian market. It is also home to the lost Iranian cuisine and local regional delicacies, including coastal cuisine, Marathi cuisine amongst others.
Anurag Katriar, ED & CEO- deGustibus Hospitalitysaid “With a very low entry barrier, restaurant industry attracts people from various walks of life. The Restaurant Congress provides them a credible platform to understand the various finer nuances of the trade from experienced industry professionals. The meet also provides an opportunity for trade people to share their experience & wisdom”
Interestingly, the Pubs, Bar cafes & Lounges (PBCL) is expected to growat 22 % for the next five years and has 43% share of all PBCL outlet in India.
Riyaaz Amlani, President- NRAI & CEO & MD- Impresario Entertainment & Hospitality said “ The food biz growing at 7% per cent year on year and it is projected to grow at 10% compounded for the next three years making Indian market an exciting market to look into. Restaurant Congress is a great platform to share and discuss ideas and opportunities with the leaders of the industry”.
Not surprisingly, 95% of Fine Dine Restaurants are present in metro and mini metros dominated by West and North region as customers in these regions like to spend more for fine dining meals.
The Restaurant Indiashowfocused on the juggernauts of restaurant business in West market which has created an impact in the overall restaurant business by introducing the best of concepts and bringing the best menu to the table.
Indian Restaurant Congresshas become an important destinations for Restaurant and Food service brands to discuss and debate about the key trends in Indian food business after doing six mega editions in Delhi, thought of capturing the regional markets by doing Restaurant India at all the four regions India has.
The congress was attended by more than 300 restaurateurs and over 50 restaurant industry leaders, and chefsalong with an incredible speaker line up including Riyaaz Amlani, President- NRAI, Sanjay Vazirani, CEO& MD- Foolink Services Pvt Ltd, Akshay Bector, CMD- Cremica Food Industries, Chef Vicky Ratnani, Chef Harpal Singh Sokhi, Anurag Katriar, ED & CEO- deGustibus Hospitality, Tanmay Kumar, CFO- Burger King India to name a few.
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