Project Report For Catering Services
The project report for Catering Services is as follows.
The Indian Food and Beverage Service Industry is among the most competitive environments in the past few years which has witnessed unprecedented growth and keeps expanding rapidly. This can be traced back to demographic changes, rising disposable income, urban growth and retail industry expansion. It is anticipated that the Food Services sector produced direct jobs for 5.5-6 million individuals in FY16, which is anticipated to grow to 8.5-9 million by FY21. Indirect employment has shown a 4% increase at CAGR from 2013-2016 and is expected to increase by 6% by 2021. India’s food market is destined for enormous growth, increasing its annual contribution to the global food trade.
In India, the food industry has emerged as the biggest growth and large-profit industry due to its huge value-added capability, especially within the food industry. Despite the enormous disposable income of the middle class, the food sector in India has already been thriving in recent times.
Food catering-Providing healthy food for major gatherings like festivals, weddings, business meetings etc.
Market potential & Strategy
Food Services arise as an important segment of the Indian economy. The Indian Food Services sector in India (organized and unorganized) is anticipated at INR 3,37,500 crore in 2017 and is anticipated to increase at a rate of 10 per cent over the next coming five years to achieve INR 5,52,000 crore by 2022. 2 big metro stations, Mumbai and Delhi NCR make a contribution of 22 per cent of the total food processing industry followed by six mini metro stations (Pune, Ahmedabad, Bengaluru, Chennai, Hyderabad and Kolkata) with a 20 per cent share of the food processing market.
A large proportion of very well-travelled young people have high incomes and are exploratory and tech-savvy, trying to eat out far more than their predecessors, pushing the Food market’s development. Structured retail space is available to help in the steady growth of Indian and global brands across various formats. The dimensions of India’s (organized and unorganized) Indian Food Services segment is valued at INR 3.37,500 crore in 2017 and is expected to expand at a cagr of 10% over the next 5 years to achieve INR 5.52,000 crore by 2022.
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