Restaurateurs have realized that identifying specific needs and wants of your 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.
Indian food industry is flourishing day by day 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 international and local cuisines through internet and travel. It is currently valued at US$ 39.71 billion, is expected to grow at a Compounded Annual Growth Rate (CAGR) of 11 per cent to US$ 65.4 billion by 2018. New trends are evolving day by day to fill the void in food service sector and people are welcoming these trends warmly. Driven by change in lifestyle, adaptation of new cultures, awareness about global trends and keenness about experimentation there is a room for every segment in India. Restaurateurs have realized that identifying specific needs and wants of your 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. Here are some evolving trends in food service sector.
Changing Segments are Opportunity
“Changing market segments are more of an opportunity rather than a threat in the industry as they push Chefs to innovate something more delicious. Obviously there is a lot of competition but at the same time it enhances creativity. In this industry, everyday you need to challenge yourself and innovate peculiar ideas,” avers Chef Indrajit Saha, Executive Chef at Accor Luxe Group.
Presentation is Necessary
One side, there is good food and other side presentation of that food. Both are necessary to tattoo one’s brand in consumer’s mind. Presentation of good food in a good way is the latest trend in food service industry. Food should amuse consumer and give him/her smile at the same time. “If restaurateurs become less pretentious about food and concentrate more on flavours and presentation; it’s going to stay then. At the end of the day, Indians want something fruitful and as long as restaurateurs maintain that, people will keep coming back to them,” says Suved Lohia, Partner at Hopscotch - Bar & Brasserie.
People are following the concept of eat what is available, local, fresh and seasonal and in a way to be healthy as well they have shifted to vegetarianism. 2016 has been the year of vegan and 2017 is whole heartedly welcoming the new trend of 'being vegan'.
“Food trends in 2018 will be very much defined by what has been going on in the world within the past few years. For some time now, people have realized two things namely, we have been over eating processed food and we have been destroying the environment. Time is not far when people will switch over to fresh food and opt for more sustainable farming methods, be it meat, seafood or vegetables. In this, since meat and seafood consumption has been linked to global warming and harming your body, it will definitely decline. All this will happen due to increased consumer awareness and this will bring in a new trend,” says Chef Vibhuti Bane, Corporate Chef at Delightful Foods Pvt. Ltd.
“Comfort food is the new trend and the definition of comfort food has changed drastically. Till some time back, as a part of premium hotels and restaurants, comfort foods were like pasta, pizza, burgers, sandwiches and essentially what the west used to dictate. Today, Indian and Chinese foods are also coming in the array of comfort food,” says Chef Ramanpreet Singh, Executive Chef at Park Plaza Chandigarh – Zirakpur.
Change is the only thing constant. F&B was struggling for its identity twenty years back, but now the time has changed. Revolutionary changes are coming in every five years and they are good for the industry.