India opens up...
The Foodservice Market in Focus
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Consumer foodservice continued to see strong growth in India in 2007. Four factors contributed to the growth – continued robust economic growth, an expanding base of middle class households due to rising incomes, a rise in the number of working women, and the increased availability, affordability and convenience provided by foodservice outlets. Consumer foodservice value sales grew at a strong 14% in India during 2006 and a constant value CAGR of 8% is expected in the next year. India is predicted to witness one of the fastest growth rates in Asia Pacific.
While street stalls/kiosks and full-service restaurants continue to dominate the consumer foodservice market landscape in India with their sheer presence, pizza foodservice and fast food outlets are slowly but surely embedding themselves into the eating habits of India’s middle class consumers. As new domestic players are likely to make their appearance, a host of international companies are also expected to enter India.
Indian Hotel Sector on high Growth Path
The Indian hotel sector is on a high growth path with the surge in business as well as leisure travellers in the country. About 75% of the total guests were domestic, 25% were coming from abroad.
Foreign arrivals are growing at a steady rate of 11-15% p.a. and are expected to grow further with increased investment in the tourism sector. Besides this, approximately 300 million domestic travellers traverse the country each year and this number is expected to witness a growth of 10-15% over the next few years. Referring to these figures, the interest of foreign hotel brands is increasing enormously to invest into the Indian hotel sector.
While street stalls/kiosks and full-service restaurants continue to dominate the consumer foodservice market landscape in India with their sheer presence, pizza foodservice and fast food outlets are slowly but surely embedding themselves into the eating habits of India’s middle class consumers. As new domestic players are likely to make their appearance, a host of international companies are also expected to enter India.
Indian Hotel Sector on high Growth Path
The Indian hotel sector is on a high growth path with the surge in business as well as leisure travellers in the country. About 75% of the total guests were domestic, 25% were coming from abroad.
Foreign arrivals are growing at a steady rate of 11-15% p.a. and are expected to grow further with increased investment in the tourism sector. Besides this, approximately 300 million domestic travellers traverse the country each year and this number is expected to witness a growth of 10-15% over the next few years. Referring to these figures, the interest of foreign hotel brands is increasing enormously to invest into the Indian hotel sector.
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