The pace of expansion in India’s food services industry is likely to quicken in the next five years, says a report by audit and consulting firm KPMG in association with industry group FICCI.
A young population, increasing disposable incomes and changing lifestyle are the key growth drivers for the industry, the report said.
It said that the industry grew at a compound annual pace of 7.7% between 2013 and 2016 and that the rate will accelerate to 10% till 2021 to reach a size of almost Rs 5 trillion.
Another significant change that the report has predicted is that the share of the unorganised segment in the highly fragmented sector will fall over the next five years.
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