Professional Documents
Culture Documents
SUBMITED BY:
Chandrabhan Solanki
Faculty, B.Com.
A3146912001
B.COM. HONS. (EVENING)
ACCF
AMITY UNIVERSITY UTTAR PRADESH
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CERTIFICATATE OF ORIGIN
This is to certify that Chandrabhan Solanki a student of B.Com. Hons. (Evening), ACCF,
Noida has successfully completed the project entitled INDIAN FOOD SECTOR AND
CHANGING CONSUMER PREFERENCES under the able guidance of Miss Sarika
Jain. This report has the requisite standard for the fulfillment the Graduate Degree in
B.Com. Hons. for the year 2012-2015.
Signature
Signature
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ACKNOWLEDGEMENT
The successful completion of this project work was made possible with the help and
guidance received from various quarters. I would like to avail this opportunity to express
my sincere thanks and gratitude to all of them.
I am sincerely grateful to my Faculty Guide Miss Sarika Jain for her keen interest and
encouragement in my project work whose co-operation and guidance helped me in
completing the project successfully and completely.
I would also like to thank all the staff members of the Department of B.Com. Honors, for
providing the necessary co-operation.
Chandrabhan Solanki
(A3146912001)
ACCF
TABLE OF CONTENTS
Chapter No.
Subject
Page No.
Ch.-1
Executive Summary
Ch.-2
Research Methodology
Ch.-3
Ch.-4
Ch.-5
Ch.-6
Ch.-7
36
40-42
Ch.-8
48
Ch.-9
Future Prospects
50
Ch.-10
51-54
Ch.-11
Conclusion
55
Recommendation
56
References
57-58
Bibliography
59
Annexure
60
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1. EXECUTIVE SUMMARY
The aim of the project was to have an in-depth knowledge of the growing fast food sector
and ready to eat market in India and to study the various reasons, which have changed the
consumers perceptions towards eating out options.
The study involves understanding the current scenario of the fast food restaurant industry
and ready to eat food market and understanding the change in consumer approach
towards eating out options and towards ready to eat meals available at food retail stores.
It deals with the growing consumption of processed food in India. Emphasis is also given
on the competitive advantage of the processed food industry. All the data collected is
secondary and the recommendation are on the basis of this data.
2. RESEARCH METHODOLOGY
2.1 PRIMARY OBJECTIVE:
To Study the current scenario of the fast food restaurant sector, ready to eat
meals market and to study the changing consumer behavior towards the same.
Researches have shown that like most Asian economies, India has a long tradition of
eating away from home, at a plethora of roadside eateries, snack shops and at lodging
places. Not only does the traditional eat-at-home type prefer to eat out, he is very
demanding too. Eating out no longer marks a special occasion. The estimated industry
growth in 2006 has been between 25-30%.
According to a survey by ACNielsen, an urban adult Indian is among the top 10 in the
world in terms of frequency of fast-food consumption. The going-out-to-eat culture is
evolving fast in India, as more consumers seek variety in their food choices. Urban
Indians are aware of international cuisines, and an increasing number are willing to try
new foods. About 4.5 percent of urban consumers eat outside of their home at least once a
week, and about 12 percent eat out once a month.
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According to the ACNielsen survey, 30% of Asia Pacific consumers eat at take-away
restaurants at least once a week, closely behind fast food fans in the US (33%). At the
other end of the scale, however, only one in ten European adults eat takeaway once a
week.
Asia Pacific, despite 12% claiming never to eat fast food, the region has the most takeaway addicts, with 35% reportedly eating fast food at least 3 times a week, to as often as
more than once a day. Hong Kong ranks the worlds No. 1 in terms of frequency of fast
food restaurant visits followed by Malaysia (59%) and the Philippines (54%).
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The ACNielsen survey found that while Breakfast was the least popular occasion for fast
food meals across the three regions, it was the most popular in Hong Kong (21%) and
made Hong Kong into the worlds No.1 consumer of take-away breakfasts. Americans
considered take-away more an option for both lunch (29%) and dinner (48%) while 31
percent of the fast food fans in Europe would take it for dinner.
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Type of Cuisine (52%), Price (52%) and a Convenient Location (47%) were found to be
the most important choice criteria around the globe.
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Pubs and independent bars are also becoming popular among higher income Indian
consumers in Indias major metropolitan cities. Increasing demand from middle class
consumers is expected to spur robust growth in value-for-money restaurants.
Two of America's biggest brands, Starbucks and Burger King, are looking to tap the
Indian market.
The more than $250 million retail coffee sector is coming into its own, fed by a growing
economy and rising incomes. The foreign players in India include Costa Coffee (plans
more than 300 outlets, with investment more than $33 million in India), Gloria Jeans
Coffee (plans 750 outlets in India), Coffee World (more than 20 outlets, investment $3
million), while the Indian ones are Cafe Coffee Day (CCD), Barista and Qwiky's.
In fast food, Yum Restaurants International, owner of Pizza Hut and KFC, with global
sales more than $13 billion, has announced that it will invest close to $25 million;
Domino's, world leader in pizza delivery, has an annual expansion expenditure of $1.5
million; US-based Papa John's, the third-largest pizza company, has 100 outlets lined up
in northern India; KFC is planning 1,000 restaurants. The $5 billion US fast-food major
Subway is planning to invest more than $40 million, planning 200 outlets by 2009.
The market has been witnessing a marked change in consumption patterns, especially in
terms of food. The household in middle, upper, and high-income categories has grown
significantly. There has also been an increase in the number of dual-income households
that has led to more meals eaten away from home.
Type
Fast food
Ownership Type
Two regional franchisees
Pizza Hut
Fast food
A master franchisee
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operating outlets
through subfranchisees
Pizza Corner
Fast food
Indian company
Operating through
subfranchisees
Dominos Pizza
Fast food
A master franchisee
Operating outlets
through subfranchisees
Subway
Fast food
Franchisee operating
Outlets through
subfranchisees
KFC
Fast food
Franchisee operating
Outlets through
subfranchisees
TGI Fridays
Casual Dining
All-India franchisee
Nirulas
Barista Coffee
Coffee shop
Coffee shop
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The global growth of Food & Beverage categories measured was 4%. The largest share
of Food & Beverage value sales came from Europe, followed by North America. Asia
Pacific was number three, accounting for 13% of total Food & Beverage sales.
Source: Executive News Reports- Whats Hot Around the Globe: Insights on Growth in Food & Beverages
AcNielsen
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16
China
of
Snacks/Chips
(+28%),
Non-Chocolate
Candy
(+24%),
and
Sweet
5.2 INDIA
The packaged food industry has around over 60,000 bakeries, 20,000 traditional food
units and several pasta food units. In the past decade several new biscuits &
confectionery units, soya processing units and starch/glucose/ sorbitol producing units
have come up. Multinational Companies are coming up in confectionery and cocoa based
products areas.
The industry structure and ongoing transformation offers opportunities for organised
players to invest and grow. As the Indian market matures and consumers become more
quality and brand conscious, the organised sector is poised to grow and gain prominence.
17
The aerated soft drinks industry in India comprises over 100 plants across all States. It
has attracted one of the highest foreign direct investments in the country, amounting to
around US$ 1049 million. Two of the biggest global brands in this segment are well
established in India.
Presently there are more than 7000,000 outlets retailing soft drinks in the country. Soft
drinks constitute the third largest packaged foods segment, after packed tea and packed
biscuits. Total export earnings of the industry are over US$ 156 million per annum.
Penetration levels of aerated soft drinks in India are quite low compared to other
developing and developed markets, an indication of further potential for rapid growth.
Packaged drinking water
The market size for packaged drinking water in India has been estimated at around US$
223 million. The industry comprises 215 companies which have been granted license for
manufacturing packaged drinking water and 3 for manufacturing packaged natural
mineral water.
Trends such as shortage of drinking water in the large metropolitan cities, changes in
consumer lifestyles leading to demand for convenience and availability of various
packaged sizes to suit different needs have led to a spurt in growth over the last 3-4 years
and these trends are expected to continue to fuel demand in this sector.
Alcoholic beverages
India is the third largest market for alcoholic beverages in the world. The demand for
spirits and beer is estimated to be around 373 million cases per annum. There are 12 joint
venture companies producing grain based alcoholic beverages that have a combined
licensed capacity of 33.9 million litres per annum. 56 units are engaged in manufacturing
beer under license from the Government of India.
The demand per annum for wine in the domestic market is estimated to be around 6
million bottles (750 ml), while the domestic production of wine is over 2.4 million
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bottles. The market is estimated to grow at a healthy rate of around 25 per cent per annum
in the next five years, indicating attractive investment potential.
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the future, South India is expected to become the largest regional market for ready meals.
This growth is based on the regions increasingly sophisticated retail environment.
It is forecast that by 2009, Indians will purchase INR 2.91 billion worth of ready meals
with South Indians buying 4.86 thousand tonnes worth INR 909.99 million. The second
largest market, by value, is expected to be West India with sales of 6.43 thousand tonnes
worth INR 827.57 million.
By 2009, West India is expected to have the highest level of per capita consumption at 27
gms worth INR 3.46, followed by South India at 19 gms per person worth INR 3.56.
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By 2009, West India is expected to have the highest level of per capita consumption of 49
gms per person worth INR 9.67, followed by North India at 32 gms per person worth INR
6.48.
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India has several competitive advantages in the food processing sector, which have been
analysed using the framework shown below.
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1. Demand conditions
India offers a huge growth opportunity for the food processing sector due to the positive
impact of demographic trends and expected regulatory changes.
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Income levels across population segments have been growing in India. According to
NCAER data, the consuming class, with an annual income of US$ 980(INR 45000) or
above, is growing and is expected to constitute over 80 per cent of the population by
2009-10. The increase in income levels of the Indian population and the emergence of the
consuming class that has higher propensity to spend, offers great growth opportunities for
companies across various sectors.
Changing age profile of the Indian population
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As a consequence of the high birth rates prevalent until the 1990s, a large proportion of
the Indian population is relatively young - in the age group of 20- 59 years. This group is
also high in consumption and therefore, this trend is expected to provide a further boost
to the growth of consumption in India.
Changing lifestyles
Urban consumers in India have become more exposed to western lifestyles, through
overseas travel and presence of foreign media in India. For example, more than 5 million
Indians traveled abroad last year and this number is expected to increase by 15 per cent to
20 per cent per annum. Increase in the population of working women and increasing
prevalence of nuclear double income families, especially in urban areas, are other trends
shaping lifestyles. The food processing sector has been impacted by these trends as there
has been an increase in the demand for processed, ready-to-cook and ready-to-eat food. It
has been assessed by Euromonitor International, a market research company, that the
amount of money Indians spend on meals outside the home has more than doubled in the
past decade to about US$ 5 billion a year, and is expected to further double in the next 5
years. These trends imply significant growth potential for the sector in future and add to
its investment attractiveness.
2. Factor conditions
India has a comparative edge over several other nations in terms of its access to natural
resources.
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Due to its diverse agro-climatic conditions, it has a wide-ranging and large raw material
base suitable for food processing industries. Presently a very small percentage of these
are processed into value added products. The semi-processed and ready to eat packaged
food segment is relatively new and evolving.
India has the largest irrigated land in the world. It is also worlds largest producer of milk,
tea and pulses. India has large marine product and processing potential with varied fish
resources along the 8,041 km coastline, 28,000 km of rivers and millions of hectares of
reservoirs and brackish water. India also possesses the largest livestock population in the
world with 50 per cent of worlds buffaloes and 20 per cent of cattle. Also, India is the
worlds largest milk producer. Indias comparatively cheaper workforce can be effectively
utilized to set up large low cost production bases for domestic and export markets. Cost
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05 to US$ 41.35 million next year. The government has been developing agri-zones and
the concept of mega food parks to promote food processing industry in India. It is
considering investing US$22.97 million in at least 10 mega food parks in the country
besides working towards offering 100 per cent foreign direct investment and income tax
benefits in the sector.
In order to promote investment in the food processing sector, several policy initiatives
have been taken during recent years. The liberalised overall policy regime, with specific
incentives for high priority food processing sector, provides a very conducive
environment for investments and exports in the sector.
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Though there are about 12 million retail outlets in India, organized retailing accounts for
less than 3 percent of the total retailing in India, although new format stores like
hypermarkets, supermarkets, mini supermarkets, convenience stores and discount stores
are fast appearing in cities and large towns.
For a long time, roadside grocery stores have been the only available choice for urban,
semi-urban and rural areas. But the traditional grocery and food stores have experienced
the emergence of organized supermarkets and grocery chains.
Organized Retailing in the last decade has emerged as one of the sunrise industries in
India, closely following the Information Technology and Biotechnology industries. The
boom in the sector started after the liberalization measures were initiated in 1991 in the
country. Several large chains have entered the bandwagon and have achieved fair to
significant success. Indian retailing has evolved over the past decade, from largely an
informal and disorganised marketplace to an increasingly corporatised industry, at least
in the urban India. With the increased popularity of food retailing in an organised way
this sector has thrown up a wide range of opportunities for Indian agribusiness.
Organized retailing, considered a sunrise industry after InfoTech, is one of the most
happening industries with many big players (Tata, RPG, Times, ITC as well as foreign
firms like Wal-Mart) vying for a share of the coveted pie. Organized retailing, considered
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a sunrise industry after InfoTech, is one of the most happening industries with many big
players (Tata, RPG, Times, ITC as well as foreign firms like Wal-Mart) vying for a share
of the coveted pie.
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more information;
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Fresh Product outlets: Outlets selling fruits and vegetables in valueadded packing. These outlets generally cater to the higher segment of
the society. E.g. Namdhari and Safal.
Specialty
Stores:
Off-Price
Retailer:
Merchandise
bought
at
less
than
regular
According to a survey by ACNielsen, an urban adult Indian is among the top 10 in the
world in terms of frequency of fast-food consumption. The going-out-to-eat culture is
evolving fast in India, as more consumers seek variety in their food choices. Urban
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Indians are aware of international cuisines, and an increasing number are willing to try
new foods. About 4.5 percent of urban consumers eat outside of their home at least once a
week, and about 12 percent eat out once a month.
A rapidly growing Indian economy (6 percent annually over the last decade) has
increased incomes of the consuming class. By 2007, approximately 22 percent of
households (44 million) are expected to have an average annual income of $3,150
($17,300 on a purchasing power parity basis) compared with less than seven percent in
1995.
The expanding young population, more women in the workforce and increasing
urbanization support HRI food sales. Today, close to 30 percent of the population live in
urban areas, and this share will grow to 40 percent by 2025. Sixty-five million people are
expected to enter the 20-34 year age group from 2001 to 2010. The number of dual
income households, with both husband and wife working, has been expanding rapidly in
urban areas.
High income
Changing Attitude
International
Necessities to
opportunities
Service sector:
From Save to
Exposure
Highest growth rate
lifestyle
Shift to expense
Spend
37
to lifestyle
IT industry:
High disposable
Increasing business
increasing
income family
travel
professional &
structures on a rise
entrepreneurial
products
Nuclear
Indian students
Apparel, films,
families
entertainment,
DINKS
nationalities in US
mobile phones on a
(Double
and Australian
rise
MNCs entering
Income No
Universities
Kids)
opportunities
grown companies
going global
Multi-
Exposure to global
income
trends through TV
families
networks
The disposable income of Indian consumers has increased steadily. The proportion of the
major consuming class (population that has an annual income that is higher than Rs
90,000) has risen from 20 per cent in 1995-96 to 28 percent in 2001-02; this is expected
to move up to 35 per cent by 2005-06 and to 48 per cent by 2009-10. This translates into
a CAGR of 9.3 per cent over the next 8 years and will result in higher spending capacity
and eventually into greater consumption
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According to the 2001 census report, the population of workingwomen has increased
from 22 per cent in 1991 to 26 percent in 2001. Increased number of working women
leads to an increase in the demand for processed, ready-to-cook and ready-to-eat food.
In the recent past, nuclear families as a percentage of the total household population have
increased. Average household sizes have decreased from 5.57 in 1991 to 5.36 in 2001.
Per capita consumption increases in the case of a nuclear family.
Urbanization has increased at a rate of 2.7 per cent over the last 10 years (1990-2000). In
2000, the urban population was estimated to be 281 million (27.7 per cent of the total
population). This pace of urbanization is expected to be maintained, and urbanization is
expected to increase at 2.4 per cent from 2000 to 2015. In 2015, the population in urban
areas is expected to touch 401 million, accounting for about 32.2 per cent of the total
population.
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26
27
28
29
30
32
74
73
72
71
70
68
1990
1995
2000
2005
2010
2015
Rural Population
Urban Population
Assuming a similar age profile in urban and rural India, the urban population in the 15-60
age group is expected to grow from 164 million (18 per cent of total population) in 2000
to 287 million (23 per cent of total population) in 2015.
In 2000, the 15-60 age groups boasted 593 million people, that is, 58.3 per cent of the
total population. This figure marks a 77 per cent (CAGR of 2.3 per cent) increase from
the figures recorded 25 years ago, when the 15-60 age group was 335 million strong (54
per cent of the total population); during this period the total population grew by 64 per
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cent (CAGR of 2 per cent). Over the same period, the population above the age of 60
increased by 99 per cent (CAGR 3 per cent).
10
57
57
58
62
63
> 60 years
15-60 years
< 15 years
37
36
34
30
28
1990
1995
2000
2005
2010
Over the next 15 years, the strength of the 15-60 age groups is expected to increase to
782 million, which means a share of 62.8 per cent in the total population. Sixty-five
million people are expected to enter the 20-34 year age group from 2001 to 2010. Over
the same period, the population aged above 60 years is expected to increase to 9.6 per
cent, thus aggregating to a population of 119 million.
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franchisor and a retail franchisee, which allows the franchisee to conduct business
under an established name and according to a given pattern of business. The
franchisee typically pays an initial fee and a monthly percentage of gross sales in
exchange for the exclusive rights to sell goods and services in an area.
An example of franchise of Dominos is given below.
Concept
Hot and Fresh Pizza Delivery
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USP
Fastest Delivery of Food (30 minutes or Free)
Franchising Requirements
Franchisor Support
Marketing Store opening Plan, Print Material, Promotions, and Data Analysis.
Commissary High Quality and Hygienic Food, Regular and Emergency supplies,
Best Competitive Rates.
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franchisor and a retail franchisee, which allows the franchisee to conduct business
under an established name and according to a given pattern of business. The
franchisee typically pays an initial fee and a monthly percentage of gross sales in
exchange for the exclusive rights to sell goods and services in an area.
9. FUTURE PROSPECTS
The industry is estimated to grow at 9-12 per cent, on the basis of an estimated GDP
growth rate of 6-8 per cent, during the tenth five-year plan period. Value addition of food
products is expected to increase from the current 8 per cent to 35 per cent by the end of
2025.
Two of America's biggest brands, Starbucks and Burger King, are looking to tap the
Indian market.
In fast food, Yum Restaurants International, owner of Pizza Hut and KFC, with global
sales more than $13 billion, has announced that it will invest close to $25 million;
Domino's, world leader in pizza delivery, has an annual expansion expenditure of $1.5
million; US-based Papa John's, the third-largest pizza company, has 100 outlets lined up
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in northern India; KFC is planning 1,000 restaurants. The $5 billion US fast-food major
Subway is planning to invest more than $40 million, planning 200 outlets by 2009.
India's Panban International, which imports hotel equipment, has tied up with the
successful Quick Service Restaurant chain in the United Kingdom, Dixy Fried Chicken
Euro Ltd, with plans to roll out 100 outlets in five years.
Changing demographics:
Income levels across population segments have been growing in India. According
to NCAER data, the consuming class, with an annual income of US$ 980(INR
45000) or above, is growing and is expected to constitute over 80 per cent of the
population by 2009-10.
As a consequence of the high birth rates prevalent until the 1990s, a large
proportion of the Indian population is relatively young - in the age group of 20-
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59 years. Sixty-five million people are expected to enter the 20-34 year age group
from 2001 to 2010.
About 4.5 percent of urban consumers eat outside of their home at least once a
week, and about 12 percent eat out once a month.
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While food accounts for only 9.7% of the total private consumption expenditure
for an average American person,15% for the Japanese and 15% for the British, for
the Indian it is the single largest component of their total consumption
expenditure, accounting for as much as 53%.
Like most Asian economies, India has a long tradition of eating away from home, at a
plethora of roadside eateries, snack shops and at lodging places. But it is only in recent
decades that an organised, institutional food service sector has started to develop,
requiring larger-scale and more organised supply chains. India is showing a changing
face. There is an increase in the population of working women and increasing prevalence
of nuclear double income families, high income opportunities, changing attitude from
saving to spending, multi income families, shift to expense basket from basics to
lifestyle products. All this has shown an increase in the demand for processed, ready-tocook and ready-to-eat food and eating out options.
With the changing life styles of the consumers and rising disposable income of the
growing middle-income group, Branded Food, Health food and Convenient Food are
rapidly rising segments of this industry which are gaining vast popularity. The market for
branded foods is growing at a healthy 10%-15%.
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There is a huge opportunity in both fast food market and ready to eat food market as both
the industries are growing very fast and are expected to grow faster because of the
changing consumer lifestyle.
11. CONCLUSION
Fast food industry growth in 2006 has been between 25-30%. The food business in India
is largely unorganized adding up to barely Rs. 40,000 crore, with other large players
adding another 50% to that. The All India food consumption is close to Rs. 900,000
crore, with the total urban consumption being around Rs.330, 000 crore. An urban adult
Indian is among the top 10 in the world in terms of frequency of fast-food consumption.
The amount of money Indians spend on meals outside the home has more than doubled in
the past decade to about US$ 5 billion a year, and is expected to further double in the next
5 years.
Both fast food sector and ready to eat meal market are witnessing a positive high growth
rate. With the changing lifestyles people are spending more on eating out. Due to
increased number of working women in urban population market of ready to eat meals
has shown a positive growth.
Till now the fast food sector is dominated by unorganized players. There is a huge
opportunity for branded outlets to enter the market because with the changing scenario
people are more inclined towards brands. As eating out involves health issues people
prefer eating at branded outlets.
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Food retail outlets are also gaining much importance now a days as they help customers
to enjoy their food shopping by providing them attractive ambience, hygiene,
convenience, range and variety of goods. But this sector is also dominated by
unorganized retailers and there is a huge opportunity for organized retail outlets because
of changing consumer preferences.
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RECOMMENDATIONS
Till now fast food restaurant industry is dominated by the unorganized players.
With the changing life styles of the consumers and rising disposable income of the
growing middle-income group, Branded Food, Health food and Convenient Food
are rapidly rising segments of this industry which are gaining vast popularity. So
there is need for increasing the number of branded-fast food outlets.
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Theme based restaurants are popular around the world. This concept should be
popularized in India too.
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REFERENCE
http://www.fas.usda.gov/gainfiles/200506/146129952.pdf
http://www.fas.usda.gov/gainfiles/200612/146269832.pdf
http://www.nfis.com.au/india/pdfs/3_how_is_food.pdf
http://www.fas.usda.gov/htp/highlights/2001/india.pdf
http://www2.acnielsen.com/reports/documents/2006WhatsHotFoodBev.pdf
http://ibef.org/download/The_Indian_Hotels_Company.pdf
http://www.ibef.org/industry/tourismhospitality.aspx
http://library.corporate-ir.net/library/11/117/117941/items/176210/06-%20Yum!
%20India.pdf
http://www.hotelbenchmark.com/resources/marketsnapshots/13042005IndiaEN.aspx
http://www.domainb.com/industry/foods/20010220_pizza_dough.html
http://in.acnielsen.com/industry/fmcg.shtml
http://www.hotelassociationofindia.com/home/hai_activities.htm
http://www.ficci.com/surveys/food.pdf
http://mofpi.nic.in/presentations/fpindia.pdf
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http://mofpi.nic.in/
http://india.mapsofindia.com/travel/eating-out.html
http://www.indiaonestop.com/fdi-food-processing.htm
http://www2.acnielsen.com/reports/documents/2005_lifechoices.pdf
http://mofpi.nic.in/technologies/rural/beverages/bev_commutedorange.htm
http://mofpi.nic.in/industryspecificinformation/index.htm
http://mofpi.nic.in/industryspecificinformation/packaged/pack_investopp/pack_in
vestopp.htm
http://mofpi.nic.in/oppertunities/investment/why_invest/why_invest.htm
http://mofpi.nic.in/industryspecificinformation/fruits&vegetables/veg_investopp/v
eg_investopp.htm
http://mofpi.nic.in/industryspecificinformation/pack_drinks/pack_drinks.htm
http://members.rediff.com/vinil/vin1.htm
http://www2.acnielsen.com/reports/documents/2004_ap_fastfood.pdf
http://www.ibef.org/economy/consumermarket.aspx
http://www.ibef.org/industry/foodindustry.aspx
http://www.kpmg.com/NR/rdonlyres/426CCCE9-733A-43B3-A27D0EE157EFDB9F/0/ConsumerMarketsinIndia.pdf
http://ats.agr.ca/asia/4144_e.htm
http://www.dnb.co.in/food%20processing/overview.asp
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BIBLIOGRAPHY
1. Michael Levy, Barton A. Weitz, Retailing Management, Tata Mc Graw Hill Ed;
2006, Page no 41-45
2. Barry Berman and Joel R. Evans, Retail Management, Pearson (ninth edition2006) Pg.109-115
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ANNEXURES
Asia Pacific study includes following countries:
Australia
Bangladesh
China
Hong Kong
Indonesia
India
Japan
South Korea
Sri Lanka
Malaysia
New Zealand
Singapore
Thailand
Taiwan
Vietnam
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