PTI | Updated: June 03, 2015 17:20 IST
The Indian food and beverage sector, which is currently growing at 23 to 24 per cent annually, is likely to touch Rs 3.80 lakh crore by 2017, according to a survey. A FICCI Grant Thornton report says the sector is largely dominated by the unorganised segment that would decline significantly in the next four to five years. It added that the big brands still have a good opportunity to expand in the sector, although despite loosing the ground in five years, unorganised sector would control 60 per cent of the market.
"Brand and chains of both Indian and MNC brands are still less penetrated and there exits a large opportunity in this space to create bigger restaurant chains," said the report. Presently, the F&B (food and beverage) market is worth Rs 2.04 lakh crore, said the report titled "Unlocking the potential in the food and beverage services sector". Meanwhile, it also said that lack of quality infrastructure and shortage of adequate skilled manpower are hampering the growth of sector here. F&B sector is crippled with other issues as high real estate costs, licenses and multiples taxes, the report further said.
Amazon Great Republic Day Sale: Get Great Discounts On Refrigerator, Mixer Grinder And More