Food services industry to grow at 10 per cent till 2022: report

The Indian food service industry is expected to touch the ₹5,52,000 crore mark by the end of 2022 as it is anticipated to see an acclerated CAGR (Compound annual growth rate) of 10 per cent for the five-year period from 2017-22, according to a PwC-FICCI report. This growth will be driven by changing consumer lifestyles and consumption habits, rising disposable incomes besides the influx of technologies. In 2017, the total revenues of the food service industry were pegged at ₹3,37,500 crore. Between 2013-17, the food service industry grew 8 per cent CAGR. It said technology is disrupting the market which is revolutionising home delivery with faster availability of food.