India’s food service market is expected to reach $79.65 billion by 2028, growing at a CAGR of 11.19 per cent from $41.1 billion in 2022, according to a report.

India’s food service market is expected to reach USD 79.65 billion by 2028, growing at a CAGR of 11.19 per cent from USD 41.1 billion in 2022, according to a report.
Despite over 20 lakh jobs lost during the peak of the COVID-19 pandemic, the industry is expected to reach employment figures of 1 crore by 2025, as per the Food Service and Restaurant Business Report 2022-23, by Francorp and restaurantindia.in

The restaurants and food service market in the country is divided into two segments with the unorganised segment accounting for the major share, the report said, adding that the organised sector also grew at a strong rate between 2014 and 2020.
“India’s food service market is anticipated to project robust growth in the forecast period with an impressive CAGR of 11.19 per cent and reach USD 79.65 billion by 2028,” it said.