National Restaurant Association of India (NRAI) released India Food Services Report 2024

/

National Restaurant Association of India (NRAI) released India Food Services Report 2024 (NRAI IFSR); Mumbai Food Services Industry estimated to be valued at ₹ 55,181 crores in the organised food services sector

~Data insights from the IFSRR are resulting from in-depth interaction with restaurants, meetings with over 140 plus CEOs and consumer research covering 5300+ people across 40+ cities in India~

National Data:

  • Food Services sector to grow by 8.1% CAGR during 2024-2028. Organized to Grow at 13.2%

  • Third Largest Industry in India valued at 5.69 Lakh crores contributing 1.9% to India’s GDP; Estimated to grow to 7.76 Lakh crores by 2028

  • Tax contribution of ₹33,809 Crore in 2024, reaching ₹55,594 Crore by 2028.

  • Size of food services sector is 33.5x of Indian Film Industry, 2.18x of the Hotel Industry and 1.26x of Pharmaceuticals Industry of India

  • Second largest employer with 85.5 Lakhs in 2024; estimated to increase to 103.2 Lakhs by 2028

  • Organised sector to grow to 52.9% in 2028 from 43.8%; CDRs segment is the largest with 48% share

  • India to be the 3rd Largest Food Services Market by 2028 overtaking Japan. 2nd Fastest growing Food Services Industry Globally after Brazil. 

  • Contributes 1.4% to GST collection.


    Mumbai, July, 2024: The National Restaurant Association of India, the voice of the Indian restaurant industry released its long-awaited India Food Services Report 2024 (NRAI IFSR 2024) in New Delhi on July 9th. Today, in Mumbai, the report along with a special booklet on the food services sector in Mumbai was launched by Mr. Bhushan Gagrani, IAS, Municipal Commissioner of Brihanmumbai Municipal Corporation (BMC).In Mumbai, gracing the occasion with their presence were the Office Bearers of Mumbai Chapter of NRAI, Ms. Rachel Goenka, Mumbai Chapter Head, NRAI and Mr. Pranav Rungta, Vice President and National Committee Member, NRAI

The 5th edition of the NRAI India Food Services Report along with a brief report on the Food Services sector in Mumbai provides an in-depth analysis shared by the industry stakeholders and consumer

voices. The report delivers valuable insights into operational models and practices, investment strategies, dining trends, and sustainability efforts. 




Ms. Rachel Goenka Chapter Head, NRAI, CEO, The Chocolate Spoon Company Pvt. Ltd. said, “Mumbai today has the largest number of restaurants in the country. This trend has been the result of increasing urbanisation, evolving customer tastes and preferences, increasing demand for more efficient food delivery and vast improvements in the food tech space. The Report clearly shows that restaurants in Mumbai in particular are becoming trendsetters by integrating state of the art technologies like AI, Robotics, and automation to optimise operations and improve efficiencies to elevate customer experiences across the board.”

According to the NRAI IFSR 2024, the market size of Organised Sector of the Mumbai Food Services Industry is estimated to be valued at ₹ 55,181 crores and is the runaway leader, amongst the top 21 cities, in the organised food service sector. There are a total of 141,456 restaurants in the (Organised + Unorganised) Food Services sector in Mumbai with most people opting to visit Fine Dining restaurants followed by Casual Dining Restaurants as their preferred choice when going out to eat. 

Mr. Bhushan Gagrani, Municipal Commissioner of Mumbai expresses his enthusiasm and says, "I extend my heartfelt congratulations to the National Restaurant Association of India (NRAI) and its dedicated members for their remarkable efforts. This report is not merely a compilation of statistics; it provides a visionary path for our thriving food service industry, a sector vital to our nation’s economic growth and development. The passion and dedication of industry leaders have transformed the food service industry into a vibrant and essential part of modern life. From maintaining high standards of hygiene and service to fostering innovation and sustainability, your contributions have been invaluable. Thank you for your unwavering efforts in elevating the food industry and setting a benchmark for excellence. Together, we look forward to a future filled with delicious possibilities, continued collaboration, and shared success. Congratulations once again to the entire NRAI team!"

The food services industry has demonstrated remarkable resilience and recovery following the pandemic's impact, now experiencing several key trends. Consumers are increasingly investing in higher-quality and fine dining experiences, significantly influencing the industry. Moreover, social media platforms have profoundly shaped consumer demand. This report aims to be a credible source of information for all stakeholders, detailing the industry's size, segments, and growth opportunities. It will guide restaurant owners and operators in understanding the key drivers of business growth, helping them to increase their revenues profitably.

About NRAI:

National Restaurant Association of India is the voice of the Indian Restaurant Industry. Founded in 1982, by L.C. Nirula of Nirula’s, Madan Lamba of Volga , O.P. Bahl of Khyber Restaurant, R.D. Gora of Gazebo, A.S. Kamat of Kamat Restaurants & other leading restaurateurs, it represents the interests of 500000+ Restaurants, an industry valued at INR 4.23 lakh crores. Being the leading association of the Indian Restaurant Industry, NRAI aspires to promote and strengthen the Indian Food Service Sector. The Association in its 41st year has a pan India presence and is governed by a committee of members and led by a President and Office Bearers. The committee consists of over 30 Restaurant CEOs / Owners representing various national and international brands from the F&B sector. The association works closely with a network of State and City Chapters across the country.