The Indian food and beverages (F&B) industry is getting more and more organised with time. The country’s market conditions promises huge potential for growth in future also. Till a decade back, it was relatively difficult for international players to enter the Indian markets. Therefore, most of them sought local partnerships including franchise relationships. To tap the growing market, a number of domestic and international players are ready to expand their business and many of them find franchising, a favourable growth strategy.
Factors favouring the market growth:
India, being an emerging market has a huge untapped potential, especially for food service brands. There are many factors which contribute for the growth of food and beverage sector. India is a vast country with multiple cuisines preferences. Earlier people could not relish varied food cuisines across the country. However, with franchising food brands have established their presence in almost all regions in the country and people can now tantalise their taste buds by tasting delicacies of north, south, east and west anywhere in India.
Moreover, rising income of middle class and economic liberalisation has positively impacted consumer spending behaviour and consumption in both rural and urban market in India is ever increasing. Besides, the growth and expansion of the organised food retail chains has also been one of the important factors that are driving the growth of the Indian F&B market that comprises business segments such as restaurants, fast food joints, cafés, tea lounges, juice bars, ice-cream parlours, sweet shops, bakeries etc.
Prominent F&B brands: The entry of global brands has fuelled the growth of F&B franchising in India. The international F&B players who have marked presence across Indian market are Subway, Domino’s, Dunkin’ Donuts & More, Marry brown, The Chocolate Room, Costa Coffee, Sunshine Kebabs, Gloria Jeans Coffee, Jus Booster Juice etc. They have entered Indian market via franchising and expanded their networks successfully.
The presence of international players has also propelled the domestic players to expand their networks through franchise growth model. The popular domestic food brand includes Goli Vada Pav, Sagar Ratna, Chawla Chicken, The Great Kabab Factory, Jumbo King, Bikanerwala, Nirula’s, Bangs etc. They all have made recognisable efforts to serve Indian food as a delicacy for local as well as foreign visitors.
To conclude, F&B franchise in India have experienced high growth in last decade. With country’s market getting more organised and Indian consumers becoming more aspirational, there is huge scope for existing and new players to continue to profitably saturate the market and taste success.
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