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Nupur \n Anand, DNA (Daily News & Analysis)<\/i><\/p>\n Nupur \n Anand, DNA (Daily News & Analysis)<\/i><\/p>\n
Mumbai, \n March 13, 2013<\/i><\/p>\n
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Taste \n this: the organised (or upmarket) Indian cafe market is estimated \n to have notched up sales of $230 million (Rs1,246 crore) in 2012. \n And the figure is expected to bubble up to $410 million (Rs2,222 \n crore) by 2017, as per Technopak estimates.<\/p>\n
No wonder, 5-7 more foreign players are keen to give the likes \n of Starbucks, Coffee Bean and Costa a run for their rupee income.<\/p>\n
The identity of cafe kings eyeing India remains tightly guarded, \n but it is believed they are from Europe, South-east Asia, the \n UK and Australia.<\/p>\n
Sunil Chaudhary, assistant vice-president of Tecnova, a retail \n consultancy that has been approached by a few foreign players, \n attributes the growing interest in India to “a combination \n of the Starbucks effect and the expectation that the market will \n double in five years”. They are all on the lookout for Indian \n partners, a task that is proving tough, according to retail consultancy \n firms.<\/p>\n
Devangshu Dutta, CEO of Third Eyesight, a consulting and advisory \n firm, says that in the past one decade, the cafe has emerged as \n both a preferred hangout point and an informal meeting place in \n India.<\/b><\/p>\n
This, he says, provides headroom for growth. “The growing \n propensity to spend and the growing eating-out habit in urban \n India is another attraction for foreign chains. Besides tea and \n coffee, other ‘experimental’ drinks such as bubble tea, \n a south Asian specialty, will be offered at cafes.”<\/b><\/p>\n
Foreign chains’ interest extends beyond the cafe segment \n to the wider quick service restaurant (QSR) market, says Arvind \n Singhal, chairman of Technopak Advisors. “That’s understandable \n because the food market is still underdeveloped, compared to other \n countries. Niches like Chinese food, bread and sandwich are particularly \n popular.”<\/p>\n
Most players are keen on entering the Indian QSR segment via \n the franchisee route. QSRs account for 18% of the $74 billion \n (Rs4 lakh crore) informal eat-out sector in India, including restaurants \n that serve traditional Indian snacks like idli, dosa and chaat, \n as per Euromonitor estimates.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nupur Anand, DNA (Daily News & Analysis) Mumbai, March 13, 2013 Taste this: the organised (or upmarket) Indian cafe market is estimated to have notched up sales of $230 million (Rs1,246 crore) in 2012. And the figure is expected to bubble up to $410 million (Rs2,222 crore) by 2017, as per Technopak estimates. No wonder, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-2695","post","type-post","status-publish","format-standard","hentry","category-press-quotes"],"yoast_head":"\n