Hyderabad’s food industry is anticipated to grow by 8.1%, significantly outpacing the GDP growth rate, and is projected to generate an impressive Rs 5,69,487 crore in business by 2024, according to the National Restaurants Association of India (NRAI).
With 74,807 restaurants and an organised food services market valued at Rs 10,161 crore, Hyderabad ranks as the sixth largest market in the country. Mumbai leads 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. Additionally, 57% of diners prefer to dine out with a romantic partner.
According to NRAI officials, the unorganised sector currently outpaces the organised sector. However, this is expected to change, with the organised sector projected to surpass the unorganised sector by 2028.
Conducted over 18 months, the survey highlights the food industry’s recovery from the COVID-19 downturn.
This robust growth underscores Hyderabad’s emerging status as a major hub for the food service industry, offering exciting opportunities for both local and international food brands.
