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CREST data report that off-premise traffic accounted for just over
64 percent of all fast food sales in 1997, a figure which has been
increasing slowly, but steadily, for some time. In 1990, just over
61 percent of fast food sales were for off-premise consumption.
The dominant form of off-premise dining in the foodservice
industry is carryout, but the drive-thru, a concept that Wendy's
introduced in 1974, is especially important in fast food. Company
records show that about 60 percent of the sales at Burger King
and 54 percent at McDonald's are made at the drive-thru.
Sales
for dining
Firm off-premise
Percent
Burger King 75
KFC 71
Wendy's 65
Pizza Hut 60
Taco Bell 59
McDonald's 60
% Consumers are looking for foods to counter poor health caused by busy lifestyles,
insufficient exercise and fast food. As a consequence, people all over the world
are recognising that diet is important to their health. According to a Euromonitor
2005 report (The World Market for Health and Wellness Products), global sales
for food and drink in the “naturally healthy” category reached US$103 billion in
2004.
% In wealthy and developed countries, functional foods are meeting specific health
needs such as bone health, low GI and organic. More and more people are
choosing food that reflects their environmental stance. There has also been an
increase in environmental activism and awareness. Some advocates for organics
in the United Kingdom believe that eating organic food is the only way to
guarantee you are not consuming genetically modified product.
% In developing countries there is a need for low cost access to healthy and nutritious
food. Countries such as China are only just discovering the nutritional benefits of
dairy. Both the Food and Agriculture Organisation of the United Nations (FAO)
and Euromonitor expect dairy consumer growth to be in the order of 50 per cent
over the next seven years.
% Fonterra is well placed to respond to these trends. Milk is a powerhouse of nutrients,
vitamins and protein. We are proud that what we make and sell are healthy and
wholesome products.
Overall demand for dairy is rising by around two per cent each year throughout the
world. This is driven by population growth but also by growing consumption per capita
globally and in regions such as Asia.
Beverages
As per the report, the fruit/vegetable juice market will grow at a CAGR of around
30 per cent in value terms during 2009-2012, followed by the energy drinks
segment which will grow at a CAGR of around 29 per cent during the same
period.
Major investments
% The Centre has announced a series of new initiatives which include a separate
policy at the state level, thrust on contract farming and making the sector
tax-free.
% The government plans to open 30 mega food parks by the end of the 11th Five
Year Plan (2007-2012).
% In the Union Budget of 2010-11, the government has announced setting up of
five more mega food park projects in addition to the ten already being set
up. Moreover, external commercial borrowing will be made available for
cold storage or cold room facility including for farm level pre cooling, for
preservation or storage of agriculture and allied produce, marine products
and meat.
As per information published on MOFPI
% Income Tax rebate is allowed, 100 per cent of profits for 5 years and 25 per
cent of profits for the next 5 years, for new industries to process, preserve
and package fruits and vegetables.
% Excise duty on ready to eat packaged foods and instant food mixes has been
brought down to 8 per cent from 16 per cent.
% Excise duty on aerated drinks has been reduced to 16 per cent from 24 per
cent.
Looking ahead
According to an industry body and E&Y study on the Indian food industry called
'Flavours of Incredible India – Opportunities in the Food Industry', published in
October 2009, investment opportunities in the Indian food industry are set to
shoot up by a huge 42.5 per cent to US$ 181 billion in 2015 and to US$ 318
billion by 2020.