Posted May 02, 2018 08:07:20Indian food is trending in the Indian financial markets, with a recent report showing Indian consumers are more likely to order food from online sites like Flipkart and Amazon India, which have been blamed for a surge in food prices.
The annual Indian Food Trends report, released by the Indian Food Information Institute (IFI) on Tuesday, showed that more than three quarters of respondents said they were ordering Indian food online, and more than one in four said they had eaten Indian food at least once.
It also found that India’s food tastes had changed, with many Indians moving away from traditional Indian food products like curries, dosa and masala to food items like rice, paneer, noodles and pulses.
“The trend towards consumption of food online is a big change from the traditional Indian eating habits,” the report said.
“For example, while only 20 per cent of the population consumes rice, only 35 per cent use the traditional ingredients such as curries and dosa, while almost a third of the total population eat meat.”
Food trendsThe report said India’s overall population grew by nearly two million between 2000 and 2010, but it now has a population of around two billion, up from 1.4 billion in 2010.
The IFI report noted that many Indian food items were also trending downwards, with the popularity of vegetarian products like tofu and tofu-based curry dropping from 46 per cent to 32 per cent in the past five years.
“We believe the shift towards a vegetarian diet has been driven by a shift in the public mindset and the emergence of new food trends,” the IFI said.
Food trends can be a powerful indicator of how food tastes, with food often linked to a country’s economic health.
For example in the US, the popularity and quality of fast food chains has been declining, while in India, fast food sales have increased.
“With more people choosing to eat healthier, and with the growing number of vegetarian and vegan options, it is clear that India is now experiencing a shift towards food trends and the changing tastes of the people,” said Akshay Bhattacharya, president of the IFIC.
“It is now the global food trend, and we need to keep it going.”
The report comes at a time when the Indian government has been pushing for a greater role for small businesses and the creation of new industries.
The report noted India had overtaken China as the country with the largest number of micro-businesses in 2016, with about 7.3 million.
The IFI said the growth of the food sector had been accompanied by an increase in job opportunities and a rise in the country’s manufacturing output.
“There has been an increase of about 20 per and one per cent per annum in manufacturing employment from 2012 to 2017, the largest increase in jobs since 1995, which was the year of the Industrial Revolution,” it said.