As per our research report “ Indian Fast Food Market Analysis”, India has seen a massive rise in the consumption of fast food over the past few years. In fact, the country has emerged as one of the fastest growing fast food markets in the world. Improving living standards, rapid urbanization, and westernization of Indian culture are some of the major factors responsible for such a robust growth. These factors and several other factors will help the industry to grow at a CAGR of 30-35% during 2010-2013.
Although the market has witnessed a robust growth in the past few years, the market largely remains underpenetrated. The market largely remains concentrated in the metropolitan and Tier-I cities, while Tier-II and Tier-III cities as well as rural areas remains mostly untapped. However, all the major food chains have started realizing the potential of these untapped markets and are trying to increase their presence in Tier-II and Tier-III cities.
According to our research, pizza, pasta and noodles market along with other fast food markets are expected to get double in 2013 compared to 2010. Owing to this trend, nearly all major international fast food players, such as McDonald, Pizza Hut, Dominos, KFC, etc. are investing huge amount of money to expand their presence and share in the highly lucrative Indian fast food industry. Customization of products, considering Indian choices and customs, has been one of the key strategies for the success of foreign fast food chains in India. Most of the food chains are busy in innovating and customizing their products.
Although the multinational fast food restaurants have made strong presence and are found at almost every shopping malls and local markets, they are facing stiff competition from ethnic eateries/fast food chains that sell traditional items such as Wada Pav, Kaati Rolls, Kulfi, and Tikka. Though these restaurants are not big ticket like their foreign counterparts, they are fast becoming a part of day-to-day life of urban India.
For more information visit: http://www.rncos.com/Report/IM264.htm |
