Food business in Hyderabad to rake in over ₹5 lakh crore in 2024: restaurants’ association

Updated - July 12, 2024 05:02 pm IST

Published - July 11, 2024 07:04 pm IST - HYDERABAD

There are a total of 74,807 restaurants in Hyderabad, according to National Restaurant Association of India’s (NRAI) India Food Services Report 2024

There are a total of 74,807 restaurants in Hyderabad, according to National Restaurant Association of India’s (NRAI) India Food Services Report 2024 | Photo Credit: By Arrangement

Hyderabad has a total of 74,807 restaurants that are expected to clock a business of ₹5,69,487 crore in 2024. This data was shared by National Restaurants Association of India (NRAI) on the sidelines of a round-table meeting of the organisation.

The organised food services market is valued at ₹10,161 crore, making Hyderabad the sixth biggest market in the country. Mumbai tops the market with a ₹55,181-crore organised market.

The organised food services market in Hyderabad is valued at ₹10,161 crore, according to National Restaurant Association of India’s (NRAI) India Food Services Report 2024

The organised food services market in Hyderabad is valued at ₹10,161 crore, according to National Restaurant Association of India’s (NRAI) India Food Services Report 2024 | Photo Credit: By Arrangement

“Currently, the unorganised sector is bigger than the organised sector. This will change in the next few years and organised sector will be bigger by 2028,” said Shankar Krishnamurthy from the NRAI. 

The survey, conducted over 18 months, shows how the food industry has bounced back after the COVID-19 downturn. “The per person spending on food during a visit is ₹990 in Hyderabad, which is second only to the ₹1,050 in Delhi. And this is what makes the Hyderabad attractive and is bringing in other big food brands to the city,” said NRAI secretary Kavitha Mantha.

The survey revealed interesting details such as: 57% of the diners’ preferred dining-out company is a romantic partner, south Indian food is the cuisine of choice for 67%, the highest number of food outlets in the organised sector are in cloud kitchen at 16,379, with quick service restaurants trailing at 13,544.

The industry is expected to grow at 8.1%, much higher than the GDP growth, the association said.

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