Sun. Jun 23rd, 2024

Leaving behind hunger and malnutrition indicators in Asia’s third largest economy to history, India Food Forum concluded on an aspiring note of value added consumption with surplus food, be it farm fresh, poultry or dairy as also food service delivery. Cloud kitchens were seen redefining the food service business across most Indian cities accounting for one out of every five orders, according to experts that spoke at the two-day conclave in its 16th edition.

Cloud kitchens were seen redefining the food service business across most Indian cities accounting for one out of every five orders, according to experts that spoke at the two-day conclave in its 16th edition.

“India’s food service industry of USD 57.2 billion size with 47 percent organized market in 2023 is seen rising to USD 78.8 billion with 53 percent in 2026”, said Pakhi Saxena, Business Director Head – Retail & Consumer Products, Wazir Advisors – a consulting firm.

“Within the organized Foodservice Market Revenue of USD 27.1 billion in 2023, USD 5.9 billion came from the organized chains and the rest from independent establishments. By 2026, this organized revenue for food service is seen growing to USD 42.7 billion, with organized chain share accounting for USD 9.8 billion,” Saxena further added.

While the population has grown by 2.5 times, cereal production has grown by 2.8 times, fruits and vegetables by six times, dairy by 10 times, and poultry by 2.5 times,” said R S Sodhi, President, Indian Dairy Association.

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