Project report for food catering. The Indian Food and Beverage (F&B) Service Industry is one of the most vibrant industries that have seen unprecedented growth in the recent past and continue to expand rapidly. This can be attributed to the changing demographics, increase in disposable incomes, urbanization, and growth of organized retail.
The Food Services sector is expected to have generated direct employment for 5.5-6 million people in FY16, which is expected to increase to 8.5-9 million by FY21. Indirect employment has seen a growth at a CAGR of four percent from 2013-2016 and is expected to grow six percent till 2021. The Indian food industry is poised for huge growth, increasing its contribution to the world food trade every year. In India, the food sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition, particularly within the food processing industry. The food industry in India has been booming in recent times, owing to the rising disposable income of the middle class.
The food catering business is mainly utilized in managing large events such as weddings, meetings, get-togethers, etc. The cuisine and culinary are different based on the culture and tradition of the people and the purpose of the event. Indian big fat weddings are famous for the huge spending on food. The business is quite promising if the one provides good quality food with the utmost taste.
Food catering -Providing quality food to large events such as festivals, marriage, business meetings etc.
Food Services emerge as a key segment in the Indian economy. Indian Food Services market in India (organized and unorganized) is estimated at INR 3,37,500 crore in 2020 and is projected to grow at a CAGR of 10% over the next 5 years to reach INR 5,52,000 crore by 2022. Two mega metros, Mumbai and Delhi NCR contribute to 22% of the overall Food Services market followed by six mini metros (Pune, Ahmedabad, Bengaluru, Chennai, Hyderabad, and Kolkata)comprising of 20% share in the Food Services market.
The high percentage of young and working population which is well-traveled have double incomes and is experimental along with being tech-savvy, is eating out more than their predecessors, driving the growth of the Food Services market. Availability of organized retail space is helping in the consistent growth of Indian and International brands across different formats. The size of the Indian Food Services market in India (organized and unorganized) is estimated at INR 3,37,500 crore in 2017 and is projected to grow at a CAGR of 10% over the next 5 years to reach INR 5,52,000 crore by 2022.
The main mode of marketing should be the quality of food provided and at the same time inform the people in the event about the details of the catering group. Provide small visiting cards pinned with toffys to attract the attention of the user. Small advertisements in local channels and press inserts will be useful.
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