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In its latest report titled ‘Winning recipe for food brands in India’, Redseer Strategy Consultants says there is a surge in eating out among diverse age groups in metro and Tier-1 cities. Food service revenue will cross $100-billion mark by 2028, with the organised sector growing thrice as fast as the unorganised segment.
The frequency of eating out has risen by 30 per cent and 20 per cent among students/young adults and mid-lifers, respectively, in metro towns and tier 1 cities compared to 2018. They look for variety and quality, so the organised food services market will surge from $30 billion to $60 billion by 2028, it says.
A single-brand strategy may limit growth for restaurateurs as the Indian palate is heterogeneous. Only a few companies have scaled beyond ₹100 crore. A ‘house of brands’ (HoBs) strategy — owning multiple brands across cuisines — fetches at least five times higher revenue than standalone brands, it says.
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