The India Food Forum 2023 concluded on a high note with experts discussing disruptions like cloud kitchens and other issues relevant to the business of food retail in the country
New Delhi: Cloud kitchens were seen redefining the food service business across most Indian cities accounting for one out of every five orders, according to experts who spoke at the two-day conclave in its 16th edition.
India Food Forum concluded on an aspiring note of value-added consumption with surplus food, be it farm fresh, poultry or dairy as well as food service delivery.
According to experts at the event, the country’s food service industry holds a lot of potential despite challenges.
“India’s food service industry of $57.2 billion size with 47% organized market in 2023 is seen rising to $78.8 billion with 53% in 2026,” said Pakhi Saxena, Business Director Head – Retail & Consumer Products, consulting firm Wazir Advisors.
“Within the organized Foodservice Market Revenue of $27.1 billion in 2023, USD 5.9 billion came from the organized chains and the rest from independent establishments. By 2026, this organized revenue for food service is seen growing to $42.7 billion, with organized chain share accounting for $9.8 billion,” Saxena further added.
While the population has grown by 2.5 times, cereal production has grown by 2.8 times, fruits and vegetables by six times, dairy by 10 times, and poultry by 2.5 times,” said R S Sodhi, President, Indian Dairy Association.
This increase in primary output has led to an increase in regional and local brands and they are seen challenging national brands, according to industry experts, which was seen with the large presence of traders from the food supply chain interacting with food companies at the forum.
“Local regional brands are emerging. National brands are trying to be positioned now as regional brands,” said Sodhi, the former managing director of the dairy brand Amul.
The two-day India Food Forum saw several exhibitors launching new products and reaching out to the traders visiting the conclave in large numbers.
India Food Forum 2023 powered by Smart Bazaar held at the Westin Mumbai Powai Lake on 30 November and 1 December is the country’s largest food B2B intelligence and exhibition platform with a unique combination of wide-ranging product displays. The two-day conference with masterclasses provided networking and business development opportunities for all stakeholders of the Indian food industry. The event also hosted food D2C, tech and solutions showcase and India’s most prestigious awards for food & grocery retail and food service sectors.
