The Number of foodservice transactions per outlet in India reached 26,794.59 in 2023
The indicator recorded a historical growth (CAGR) of 5.51% between 2020 to 2023 and is expected to grow by ...
GlobalData projects the indicator to grow ...
India foodservice market analysis
The overall value of the Indian foodservice profit sector grew between 2015 and 2020. The growth of the profit sector in the Indian foodservice market in recent years has been predominantly driven by an increasing amount of transactions. The period saw a surge in businesses of food-delivery providers, concurrent with the growing demand for takeaways and deliveries. 2020 saw deliveries and takeaways prove to be critical in continuing operations for many foodservice businesses to the expense of those who had not adopted these practices prior to the outbreak. The foodservice industry’s dependence on technology will increase, with technological advancements featuring prominently in every stage of foodservice operations, from supply chain management to delivery. New formats, such as cloud kitchens, will be more prevalent, driven by investments from foodservice operators, who will seek to expand secure efficiencies and profitability in their delivery operations, reducing their real estate expenses.
Impact of COVID-19
In 2020, consumer spending has seen a slump due to uncertainty across the country amid the COVID19 pandemic. Substantial layoffs and the closures of businesses has prompted further concern amongst consumers, ultimately causing a decline in consumer confidence, impacting sales in the channel which have only been hit further with restrictions and closures. The COVID -19 pandemic brought significant changes in the operations of quick-service restaurants. Contactless dining and take-aways were adopted by leading QSR players. For instance, instead of a tangible menu, consumers were asked to scan a QR code on the table to access the menu digitally, just one example of new innovative approaches to reducing contact and ensuring confidence heading into the new normal.
Number of transaction highlights
Transaction growth outstripped outlet growth, with urban centres seeing greater footfall and traffic, and outlets increasingly relying on efficiency-improving innovations, such as contactless ordering and payments and app-based pick-up services, to help process customers efficiently.
Outlet and transaction growth rates across all profit sector foodservice channels are forecast to accelerate to 2025. However, the forecasts for growth measures will depend on economic factors, which are highly susceptible to change, dependent on the passage of the virus and the current wave of infection.
Deliveries played a significant role in the growth of transactions, especially in 2020, with traditional dine-in transactions extremely subdued. Quick service restaurants’ large market share can be attributed to their large number of transactions and a significantly higher number of outlets compared to other channels.
Transaction: The total number of visits by individuals to foodservice locations that involve the consumption of either food or drink. If several people visit one location at once and there is only one bill, such as a group dining in a restaurant, the number of transactions is counted as being one for each person in the group. If an individual purchases several items in an outlet over the course of a single visit, such as an individual spending an evening in a pub and purchasing several drinks, this is counted as one transaction.
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