There has been a plethora of new concepts and food joints flooding the Indian market in the recent past. Customers are really evolving and are excited about all the new deeds happening in the industry. The food industry which is currently valued at US$ 39.71 billion is expected to grow at a CAGR of 11 per cent to US$ 65.4 billion by 2018.
Coming Back To The Regional Taste
People have realised that identifying specific needs and wants of the particular market segment makes the business more successful. Changing market trends in recent times have made sure businesses carve out a niche and then thrive on it. “Restaurateurs have understood that meeting customers’ requirements is the need of the hour. From the humble vada pav to sushi- sashimi and then again back to the vada pav everything has changed, people are coming back to the regional taste. That has given way to successful start-ups in the food and beverage industry,” says Chef Vibhuti Bane, Corporate Chef at Delightful Foods Pvt. Ltd. It also keeps the Indian food industry to offer the rich Indian cuisine to the international scene.
There has been an influx of more and more international food chains. Also, ingredients that were available only to the food industry are now widely available in super stores and thereby more and more people are getting exposed to a variety of food options. But people are coming back to their taste and started liking local and regional taste more than the global cuisines.
“Being an Indian I know seven items from Mexico, 11 from Italy, 13 from Lebanon but if you ask me for an item from Meghalaya, I will look at you as you have spoken a foreign language. The idea that I have gone to this pursuit in food sector was to expose the rich Indian cuisine to trace our own roots. That is why I bring Indian food to Indian people in their homes,” says Nishek Jain, Founder at 29.
Acceptance Of Local Cuisines
The Indian food market has grown over the past few years and will continue to do so at a rapid pace over the next few years due to the boom in consumer spending power, brand innovation and greater acceptance of local cuisines through internet and travel. For sure, market segment changes and people follow the trend like anything but at the end of the day; they can never forget the food which is served at their home. Trends will come and go but regional cuisine will always stay. It is a staple from which people can never get bored of.
The epicenter of dining today for guests is its ultimate taste for which they could crave and return back. People are gradually getting bored of technical beautification around food instead they prefer eating authentic to get that real flavor. Simple garnishing is more impressive to them now rather than gastronomic garnishing. Year 2017 will see a drastic change in F&B industry by shifting the focus to traditional Indian cuisine and gastronomy.