Millennials have surely reached to every segment of market affecting and influencing their business.
India is better known as the nation that drinks tea across the globe. But with time the scenarios have changed slowly and steadily. The café market in India started in the late 1900s when it was just in the development stage and the players were facing trouble in making their place in the market. Surprisingly this segment has witnessed an immense growth since 2006 with new entrants and global brands making India venture.
According to the report, the size of the Indian café market is expected to grow to 150 billion by 2021 at a CAGR of 15 percent. With the presence of café chains like CCD, Barista, Starbucks etc, in India, people are getting more attracted towards these chains for having coffee and spending a quality time with their loved ones which are becoming a trend. However, in the last few years, Café culture in India has changed drastically as now lots of people are willing to be a part of this coffee market.
“The Indian café market is growing rapidly. It’s like an absolute future which is going to provide people with a variety of things other than just the coffee in the upcoming time.” Says Sneha Singhi, Owner, Paris Café. She also adds that people of all age group are getting attracted towards this segment.
With international companies already investing in the Indian market, many national ventures have also started launching their cafes redefining this sector. With the changing eating and dining habits of the youth and this is where these chains come into play. Now, most of the menus and cafes are designed keeping the mentality of these customers in mind so that they can cater to the customer's expectations.
According to a survey, the cafe market in our country is expected to grow immensely in the next five years or so. “We witness a lot of people at our outlet coming just to have a cup of coffee, spending time with each other. From couples to corporate people, coffee is something which is ordered on every occasion,” Adds Rakshita Srivastava, Owner of Saffron Boutique.
Millennials have surely reached to every segment of market affecting and influencing their business. Earlier people preferred to have a cup of coffee relaxing at their respective houses. But that scenario no more exists. Now the millennials concentrate more towards the experience rather than just a cup of coffee. With branded companies opening their outlets in our country, the craze for coffee is growing higher than ever before. According to a report, out of every five people, three are coffee lovers who are always eager to have coffee anytime and anywhere. These café chains have also introduced various kinds of coffees which are globally available.
Thus, we can say that café culture has evolved drastically with time. It is expected that this market has still a long way to go as the love for coffee is growing at a very rapid pace in India.