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Excellent business will be seen in this market, the market will cross 10 lakh crore rupees

Sagar Patel

By Sagar Patel

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The food service market in the country will almost double in the coming years.

The Indian food delivery market is growing rapidly in the country. According to a report, this market may reach Rs 10 lakh crore by 2030. During this period, the customer base is expected to reach 45 crore. Bain & Company and Swiggy’s How India Eats report states that the online food delivery sector is expected to grow at a cumulative growth rate (CGR) of 18 percent. Its reach will increase from 12 percent in 2023 to 20 percent in 2030. The food delivery market includes eating out and delivery.

The market will almost double

The report says that the current value of the food services market in India is Rs 5.5 lakh crore. This business is expected to grow at a rate of 10-12 per cent annually over the next seven years, reaching Rs 9-10 lakh crore by 2030. The report says that this growth will be influenced by strong fundamental factors. These include an expanded customer base, increased consumption opportunities, and increased supply. Also, online food delivery is expected to grow at a CAGR of (approximately) 18 per cent, contributing 20 per cent to the total food services market by 2030.

What do the experts say?

Rohit Kapoor, chief executive officer (CEO) of Swiggy Food Marketplace, said that the Indian food services market, especially food delivery, has been growing rapidly over the past few years. He said that high incomes, digitalisation, better customer experience and the tendency to try new experiences have contributed to this growth. Certainly, the Indian food services market has seen significant changes over the past decade with the rise of fast food chains and the entry of online food delivery platforms. Although the frequency with which people eat out remains low in India – around five times a month – the market is expected to grow with rising disposable incomes.

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Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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