Rapid Growth Expected for QSRs in Indian Markets

By JORDAN BRANDES In the quest for hot foreign markets India has become ripe for expansion, says a new report by The Rabobank Group. The rapid change in the food consumption habits of the country has spurred domestic and foreign QSRs chains to implement rapid expansion plans. “QSRs will be a double-digit growth story in India in the medium to long term, as food consumption habits in India are changing fast,” said Rabobank India Head F&A Research & Advisory (FAR), Asitava Sen. “A younger population, higher rate of urbanization, larger disposable incomes, higher protein consumption, increased participation of women in the workforce and exposure to western lifestyles are leading to the experimentation with, and adoption of, new dietary habits and more occasions to eat out for all levels of society." Currently, 50 percent of Indian consumers are eating out at least once everything months, according to the National Restaurant Association of India. “We believe the time is right for both global and Indian QSR chains and their supply chain partners to expand in India. This growth will support the development of a new generation of Indian food processors and supply chain partners. We believe that there is significant potential for commissaries to establish themselves as a link between QSRs and food producers and processors," said Sen.