Fast Food grows in India
Fast food and eating out has dramatically grown in India. The advent of the technological economy and the adoption of modern life in India is fast contributing to this growth. By Amit • June 2, 2010
The market is dominated by global players
Fast food is one of the world’s fastest growing food types. India is seeing rapid growth in the fast food and restaurant industries. It now accounts for roughly half of all restaurant revenues in the developed countries and continues to expand. The trend is radically changing the way people eat in India. Based on rising disposable income, changing consumer behaviour and favourable demographics, India is witnessing a tremendous growth in its fast food and restaurant industries. Additional reasons include exposure to western cuisine, the rising number of nuclear families and growth in the number of employed women, which are also having a significant impact on the eating out trends and growth of the fast food industry in the country. For a nation that is particular about its food and significantly fond of home cooked and fresh food, this trend is showing the globalisation of India and increase of new markets not witnessed in India before. With increasing number of people eating out the industry offers major opportunities to the players to capture a larger consumer base. As a result of the trend, all the international food players like Pizza Hut, Dominos, McDonalds and KFC are investing huge amount of money to grab a share of this highly lucrative market. Pizza Hut for example, is one of the flagship brands of Yum! Brands, Inc., which also has KFC, Taco Bell, A&W and Long John Silver’s under its umbrella. Pizza Hut has 143 stores across 34 cities in India. A report by Research on India has found that traditionally, the Indian consumers have been eating at roadside eateries, dhabas and stalls which still occupy a major share of the unorganised sector, where fast food has been eaten traditionally....
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