Hyderabad: The food industry in Hyderabad is expected to grow at 8.1%, significantly outpacing the GDP growth rate and projected to generate an impressive Rs 5,69,487 crore in business by 2024, according to the National Restaurants Association of India (NRAI).
Hyderabad boasts a total of 74,807 restaurants with an organised food services market valued at Rs 10,161 crore, the city ranks as the sixth largest market in the country. Mumbai leads the pack with a market value of Rs 55,181 crore.
The survey revealed that per person spending on food in Hyderabad is Rs 990 per visit, second only to Delhi’s Rs 1,050 and 57% of diners prefer to dine out with a romantic partner.
According the officials of NRAI, the unorganised sector is larger than the organised sector. However, this is expected to change in the next few years, with the organised sector surpassing it by 2028.
The survey, conducted over 18 months, highlights the food industry’s recovery from the COVID-19 downturn.
This robust growth highlights Hyderabad’s emerging status as a major hub for the food service industry, promising exciting opportunities for both local and international food brands.
