Banking on advantages like a young population with rising disposable income and increasing urbanisation in the country, the business of quick-service restaurant (QSR) chains in India is expected to grow eight-fold to US$ 5.6 billion by 2020 from US$ 720 million in 2011, at a CAGR of 27 per cent.
Both domestic and international QSR chains like Domino's, McDonald's, Pizza Hut and Nirula's amongst others are banking on the changing lifestyle of Indian consumers. In fact, India’s quick service restaurant chain industry is expected to grow faster than China at a CAGR of 19 per cent till 2020, says a recent report. The report also revealed that Indian consumers are eating out seven times a month on an average.
As many as 530 million people will reside in urban areas by 2025, which offers an attractive opportunity towards the global QSR chains. Overall, India’s food market is expected to grow to US$ 240 billion by 2020 from US$ 100 billion in 2011, the report adds. The rising eating out culture and changing eating habits open up a huge opportunity for the established QSR chains across the globe.