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CBRE report states the growing prominence of India’s F&B segment

Thursday, April 5, 2018, 16:34 Hrs  [IST]
By HBI Staff | Mumbai

CBRE South Asia Pvt. Ltd has announced the findings of its research on the growing prominence of the Food and Beverage (F&B) segment in India. According to the report, titled – Food for Thought, over the last few years, increasing urbanization, rising disposable incomes and trends of socializing, nuclear families, and growing consumerism have redefined the way urban India’s population dines.

CBRE research conducted a survey among more than 1200 restaurants in key locations of Delhi NCR, Mumbai and Bangalore. Some of the key highlights of the survey are as below:

Almost 60% of the restaurants were located on high streets vis a vis 29% in malls.  In terms of nationality, almost 82% of the restaurants were domestic standalone outlet/chains with around 18% restaurants being of international origin. US based restaurants accounted for almost 70% of the restaurants in the international category. In terms of location choices were divergent; while 62% of all international restaurants are located in malls; 68% of all domestic restaurants are located on high streets. Casual dining restaurants (CDR) has been a category that has gained significant traction in the past couple of years, accounting for almost 46% of all restaurants that were a part of the survey. More than 60% of CDR’s in the survey are located on high streets. Indian cuisine still dominates the country’s taste palette with a 24% share, followed by multi-cuisine with a 22% share. Asian cuisine and cafes are the 3rd and 4th preferred choices of diners

Anshuman Magazine, Chairman, India and South East Asia, CBRE, says, “George Bernard Shaw Once said, ‘There is no sincerer love, than the love of food.’ This is true for any country in the world. increasing globalization, growing exposure to international trends and cuisines has led to India’s food and beverage segment going through a transformation in recent years. This evolution is positively impacting the real estate sector as well with allocation for restaurant spaces going up in high streets and organized retail developments.”

Commenting on the impact of F&B on the real estate landscape, Vivek Kaul, Head, Retail Services India for CBRE South Asia Pvt. Ltd. says, “We are seeing more space being allocated for F&B in malls, the emergence of dedicated F&B clusters, food festivals taking place, F&B pop ups, and increased allocations in commercial buildings for F&B. These developments signify the growing prominence of F&B in our retail landscape. Planning for F&B is no longer an afterthought, it is integral to the planning stages of retail developments.”

 
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