Food and Beverage services are the fastest growing industry in India. First Fiddle, an F&B company is ruling the throne. With more than 30 restaurants running under its name, First Fiddle is gradually becoming the future of the restaurant industry in India. One among the best dinner restaurant Lord of The Drinks is booming with success as the largest restaurant-bar, flourishing pan India.
Food and Beverage services are slowly becoming a staple in the hospitality industry globally. India, as a populous country, is expected to be among the largest consumers by 2025. Whenever we talk about India, it’s all about its culture and of course, food. The agrarian sector and the F&B industry are interdependent, thus, benefiting the masses. India is able to grow its market across borders with time, hence developing technologies and avenues, which help them grow as a booming industry. If we look at the numbers for this year, the revenue in the F&B sector amounts to US $570 M, which is a very high number.
The huge population and the bourgeois are the major factors for this industry’s growth. Increased income has enabled an increase in disposable revenue, which has further affected lifestyles. Families are eating out more often and accessing comfort food. As the F&B industry continues to expand in the country, the annual growth rate for revenues is expected to increase by 20% in the near future, resulting in a market volume of US$ 1,181 M by 2023. India as an industry is moving neck to neck with most of the major powers and is expected to hit the spot within a couple of years, booming in the F&B arena probably more than or equal to China.