Indian consumer trends: all about food

As a consumer service industry, restaurants around the world were heavily impacted by the Covid-19 pandemic, with India not being an exception. However, it has led to a rapid digital transformation. According to research by Kantar, the adoption of technology by the Indian consumer has accelerated during the pandemic. Restaurants’ digital capabilities were also strengthened, particularly on the delivery side, to provide much-improved value and convenience to customers, says Mirae Asset Global Investments. Thus, online food delivery services in India has accelerated since the pandemic.

“India is expected to be one of the fastest growing online food delivery markets, driven by strong growth in its foodservice industry, as well as opportunities for online delivery providers to gain a share within that industry,” says Sol Ahn, Senior Investment Analyst.

According to Mirae, food services is a $65 bn market in India, taking less than 10% of the total $670 bn food consumption market, while the 90% majority is largely food consumed at home.

Read more at miraeasset.com.