PUBLISHER: Market Research Future | PRODUCT CODE: 1630523
PUBLISHER: Market Research Future | PRODUCT CODE: 1630523
India Outsourced Food Service Market Research Report by (Chained Outlets and Independent Outlets), Based on End User (Healthcare, Educational, Corporate, Travel & Leisure, and Others), by Kitchen Type (In-Built Kitchen/On-Site and CPU kitchen (Central Production Unit)/Off-site) Industry Forecast to 2032
The India Outsourced Food Service Market is expected to grow significantly during the research period, with a CAGR of 10.87%. The market was anticipated to be worth USD 17.74 billion in 2023, rising to USD 43.83 billion by the end of the forecast period (2024-2032).
The India outsourced food service industry is expected to grow at a CAGR of 10.87% till the projected year, and it is primarily defined by a complex interplay of several market characteristics that drive its growth and evolution. The primary driver of the India outsourced food service market is growing awareness of the importance of food quality and its impact on overall health and well-being. A wide range of reasons are driving expansion in the food service industry. One factor is consumers' changing lifestyles, which are characterized by hectic schedules and an increased desire for convenience. As urbanization grows, so does demand for dining options that cater to busy lives. Furthermore, as India's disposable income grows, customers are allocating a larger portion of their money to dining out or food delivery.
The emergence of meal delivery apps and services has accelerated this rise, making it easier than ever for consumers to enjoy a varied range of gourmet choices from the comfort of their own homes. This convenience element has become a major motivator, especially in urban regions where time restrictions are more acute. Furthermore, there is a rising awareness for varied cuisines, with consumers seeking out ethnic dishes and specialist restaurants, widening the scope of the food service industry.
The Indian outsourced food service sector is divided into two segments based on structure: chained outlets and independent outlets. The independent outlet segment held the greatest market share (76.13%) in 2023 and is expected to grow at a CAGR of 9.75% over the forecast period. The chained outlet segment is expected to have the highest CAGR of 13.96% during the forecast period.
The Indian outsourced food service market is divided into five segments based on the end user: healthcare, education, corporate, travel and leisure, and others. The corporate sector held the biggest market share (52.23%) in 2023 and is expected to grow at a CAGR of 11.76% over the forecast period.
The Indian outsourced food service market has been divided into two segments based on kitchen type: in-built kitchen/on-site and CPU kitchen (central production unit/off-site).
Foodlink F&B Holdings India Pvt. Ltd., The Indian Hotels Company Limited (IHCL), Elior Group, Radisson Hospitality, Barbeque Nation, Sodexo, Compass Group PLC, and LSG Group are the major companies in India's Outsourced Food Service Market.