Savouring the Tastebuds of Foodophiles with Delish Range of Food
The world is steadily going gastronome today, with the varieties existing and developing in the F&B space. This growing demand is opening lucrative business opportunities for F&B leaders in India now. Though the industry suffered huge disruption pretty recently concerning the operational challenges in the past few years added on by inflation pretty recently, the industry comprising of all the companies involved in processing raw food materials, packaging and distributing them accounts for whopping revenue majorly by the unorganised segment over organized.
According to Statista, revenue in the Food market amounts to $905.2 billion in 2023 (largely propelled by the Bread & Cereal Products segment bagging US$174.3bn), and is expected to grow annually at 8.40 percent CAGR by 28. Also, where there are many trends overhauling this industry and ‘healthy eating’ is the buzzword today, people can be increasingly found to be turning towards certain food choices like proteins; healthy drinks fibrous, gluten-free; and essential nutrients rich grains; plant-based foods, and more. Especially, the restaurant sector is observing new trends which are critical to driving the industry’s success in the furthering years, as analysed by the ‘Food, Service and Restaurant Business Report 22-23’. There are multiple QSR franchises overwhelming the F&B industry to comprehend the growing consumer’s food & supply needs today. Revising the menus, working creatively on product development, strategizing innovative marketing & sales techniques, targeting specific industry segments relative to diverse economy internationally, F&B is making & disrupting trends. Also, it has been expected that India’s food services market is likely to project robust growth with an impressive CAGR of 11.19 percent and touching $79.65 billion by 2028. Hence, realizing the extensive scope & evolving demands, we through our current edition ‘10 Most Promising Food & Beverage Franchises – 2023’ have strived to shortlist some revering leaders in the industry. Our panel of experts, comprising functional board, industry veterans, CEOs, researchers and others have put in a lot of effort to formalize this. Read to know more about them!
Do let us know what you think!
According to Statista, revenue in the Food market amounts to $905.2 billion in 2023 (largely propelled by the Bread & Cereal Products segment bagging US$174.3bn), and is expected to grow annually at 8.40 percent CAGR by 28. Also, where there are many trends overhauling this industry and ‘healthy eating’ is the buzzword today, people can be increasingly found to be turning towards certain food choices like proteins; healthy drinks fibrous, gluten-free; and essential nutrients rich grains; plant-based foods, and more. Especially, the restaurant sector is observing new trends which are critical to driving the industry’s success in the furthering years, as analysed by the ‘Food, Service and Restaurant Business Report 22-23’. There are multiple QSR franchises overwhelming the F&B industry to comprehend the growing consumer’s food & supply needs today. Revising the menus, working creatively on product development, strategizing innovative marketing & sales techniques, targeting specific industry segments relative to diverse economy internationally, F&B is making & disrupting trends. Also, it has been expected that India’s food services market is likely to project robust growth with an impressive CAGR of 11.19 percent and touching $79.65 billion by 2028. Hence, realizing the extensive scope & evolving demands, we through our current edition ‘10 Most Promising Food & Beverage Franchises – 2023’ have strived to shortlist some revering leaders in the industry. Our panel of experts, comprising functional board, industry veterans, CEOs, researchers and others have put in a lot of effort to formalize this. Read to know more about them!
Do let us know what you think!
