Industry News

Burger King on Expansion Roll

Burger King, being a strong brand name in the Quick Service Restaurants (QSR’s), plans to expand the business into different geographies of the country.

India: The launch of Burger King has been a success in India as the company presently operates in nine cities through 66 outlets. Everstone Capitals, who is the major stake holder of the company has lined up USD100 million for its aggressive expansion in the coming years. Global president, Jose Cil says that the company sees its growth in the Indian Market as it is the right time to venture in. The company aims to open more stores this year and touch a three figure mark.

Currently the brand has 11 burger variants which do not include the beef and pork burgers as the company is planning to handle the Indian market and its consumers through unique strategy and different product variation. They aim to innovate into Indian menu of veggies and chicken tandoori burgers across the globe. Company sources says that 50% of the sale is from the vegetarian segment. The company understands that the consumers are shifting their habits to buy healthy food items which can replace the junk food. The supply chain of Burger King basically involves only Indian suppliers so that it can offer fresh products in the Indian market.

According to TechSci Research, the India Food market is expected to grow at a CAGR of 12% through 2020. The reason for this growth rate is the higher disposable income, Improved standard of living and the changing consumer preferences. The expansion of the food brands into tier and tier 3 cities have also boosted the sale. The organized and branded player are gaining the market share against the unorganized and unbranded players which were the market leader in 2013. The dining food Industry has grown in 2014 and is expected grow even more by 2021.

According to a recent report published by TechSci Research, India Food Services Market Forecast & Opportunities, 2020”, the market for food services in India is expected to grow at a CAGR of over 12% through 2020. Growth in the market is anticipated primarily on account of higher disposable income, improved standard of living and changing preferences of consumers. In addition, expansion of brands into tier II and tier III cities, is also a major factor which is expected to drive growth in food services market of the country over the next five years. In 2013, the market was dominated by unorganized and non-branded players, however, with growth of various foreign and domestic brands, these players are expected to lose their market to organized branded players. Segment-wise, dining food services segment was the largest contributor in India food services market in 2014, on account of the large number of dining restaurants in the country. The segment is expected to retain its dominance in the market over the forecast period as well.

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