Vegorama Punjabi Angithi Ltd. IPO

The food service industry in India is one of the country’s most dynamic and rapidly evolving sectors, driven by a young population, rising disposable incomes, and changing consumer lifestyles. Eating out is no longer limited to special occasions it's becoming a regular part of urban life, ... especially among millennials and Gen Z. The industry spans a broad spectrum, including quick-service restaurants (QSRs), casual and fine dining establishments, cafes, food courts, and a booming food delivery ecosystem powered by digital platforms. Urbanization and the proliferation of malls, tech parks, and high-street retail have fueled the growth of both dinein and delivery formats. Tier 1 and Tier 2 cities are witnessing an increasing demand for diverse cuisines, healthconscious meals, and innovative dining experiences. At the same time, the rise of cloud kitchens and food aggregators like Swiggy and Zomato has expanded the reach of food services beyond physical boundaries, making restaurant-quality food more accessible than ever. This growing demand, coupled with increasing investor interest and brand expansion strategies, indicates that the food service sector is poised for sustained, long-term growth in India. The Indian food service industry is witnessing robust growth, fueled by rapid urbanization, rising disposable incomes, evolving consumer lifestyles, and a growing preference for dining out and convenience-based food consumption. According to the National Restaurant Association of India (NRAI) and Indian Food Services Report (IFSR) 2024, the industry is valued at INR 5.6 trillion (INR 5,69,487 Crore) in FY 2024 and is projected to expand to INR 7.7 trillion (INR 7,76,511 Crore) by FY 2028, registering a compound annual growth rate (CAGR) of 8.1% Read more