India’s Food Services Market Set to Hit $125 Billion by 2030: Swiggy Report
India’s food services market is projected to expand to $125 billion by 2030, driven largely by rapid growth in the organised segment, according to Swiggy’s annual “How India Eats” report, created in partnership with Kearney. The current market stands at $78 billion, with unorganised players holding over half the share, but the report notes that organised food services will contribute more than 60% of total future growth, outpacing the unorganised sector at twice the speed.
The report highlights that India’s food services sector has significant potential, contributing only 1.9% to GDP, compared to 5% in China and 6% in Brazil. Rising incomes, digital penetration and increasing demand for convenience are fueling this expansion. Swiggy CEO Rohit Kapoor noted the industry’s rapid evolution, pointing out that ultra-fast offerings like the company’s 10-minute delivery service Bolt already account for over 10% of its orders. Growth is also spreading beyond major metros, with dining-out rates in non-metro hubs—corporate, industrial, educational and tourist clusters—growing at twice the pace of top cities.
The report also outlines emerging consumer trends: late-night orders are growing three times faster than dinner-time demand, with pizzas, cakes and soft drinks leading post-11 PM consumption. Health-focused meals are on the rise at 2.3x growth, and hyper-regional cuisines such as Goan, Bihari and Pahari are seeing growth between 2x and 8x. Global flavours like Korean, Vietnamese and Mexican have entered the mainstream, while niche foods like Peruvian and Ethiopian cuisine are also gaining traction. As consumer tastes broaden, restaurants are focusing on speed, affordability and enhanced experience—reflected in the industry spending more than 75% of marketing budgets on digital channels. Kapoor added that QSRs and cloud kitchens remain key drivers, projected to grow at a CAGR of over 17%, nearly 1.5 times faster than overall organised food services.
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