Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

Food service industry to touch Rs 6 trn mark by FY23, to grow at 9%: Report

Press Trust of India/Mumbai 12 Jun 19 | 08:20 PM

The overall Indian food service industry is estimated to be Rs 5.99 trillion by 2022-23, growing at a compounded annual growth rate of 9 percent, a National Restaurant Association of India (NRAI) report said.

It noted that the market size was Rs 4.23 ltrillion in 2018-19.

Related Stories

    No Related Stories Found
Widgets Magazine

"The Indian restaurant industry employed 7.3 million people in 2018-19. The organised food service sector, which is only 35 percent of the total market, contributed a whopping Rs 18,000 crore as way of taxes in 2018-19. The number is expected to more than double if the unorganised sector becomes organised," NRAI President Rahul Singh said.

Pegging Mumbai's organised food service market at Rs 40,480 crore, the report noted it was the highest amongst metros in the country.

The city has approximately 87,650 restaurants and employs over 4,28,000 people.

The average spend per month per household on eating out in the city is Rs 2,890, higher than national average of Rs 2,500, it said, while adding that the average frequency of consuming non-home cooked food in Mumbai is 4.2 times per month including dine-out, delivery and takeaways.

Widgets Magazine

Sensex

Company Price Gain (%)
Yes Bank111.952.19
M & M635.451.31
TCS2,275.001.11
St Bk of India353.251.09
Coal India256.850.96

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine