Who would have thought that bar would once come to your home. From visiting your favourite bar or restaurant for a chilled beer to drinking your most loved cocktails and beverages at home. Beverage trend has also changed with change in time. According to a latest report by CEIC, Food and Non Alcoholic Beverage Change was reported at 5.584 % in Jan 2022.
In the last 2-3 years, the beverage segment in India has become a crowded space. Traditional segments such as carbonated soft drinks and juices and the newly emergent categories of flavoured water and flavoured milk products are all competing to meet consumers’ hydration and thirst quenching needs. And, hence we are seeing lots of change and innovation in this space.
As per a report published by restaurantindia.in and FranCorp, ‘dominated by owners and restaurateurs who own most of the pubs, lounges, bar individually, there is sudden growth of the segment in the country. As per reports, India pub, bar, café and lounge (PBCL) market is expected to exhibit a CAGR of 13.8% during 2022-2027.
Here are how top bar and restaurant owners are playing right with their beverages menu:
#knowing the ‘Right’ Audience: Many people get wrong when they don’t focus on the right clientele. Over the years we have seen that Indian beverages and bar market has evolved only because they are not focusing on masses but a certain class. “A lot has changed and a lot have evolved over the period of time but I really feel that the last 5-7 years the market has been segmented very well where the bar and restaurants are very vocal about the audience,” shared Ankur Chawla, Sommelier and beverages expert by adding that there is certain amount of evolution when it comes to beverages menu especially with that of cocktails.
#Forget Food, Focus on Beverage Menu: There’s no denying that beverages consist and draws larger part of the business in bar/restaurant today. People these days visit far away to get a taste of their favourite drink/cocktails and that’s where we have seen restaurateurs investing their money. “People have evolved not just in case of alcoholic beverages but also non-alcoholic. As a restaurant owners we focus equally on beverages menu like we focus on food menu. We work on our cocktails. I definitely see a future where a mixologist will be as big as a Michelin-starred chef and a bar will be known for those cocktails and people will travel miles for that particular drink,” pointed Vishal Anand who runs award winning restaurant Saga in Gurgaon amongst other.
#It’s no more visiting a bar, it’s about experience: “Over the time people have travelled abroad and when they come back they look for a similar kind of experience. The palate is getting much more equal. People are spending more time creating good beverages menu, hiring the right talent and also enabling them to have a balance in an FnB outlet that plays a huge part in the sale,” commented Jairaj Singh Solanki, MD, Naaya Hospitality that runs experiential bar Lair in New Delhi.
#Premiumisation is the Key: “The two things that is driving the consumption is craft and premiumsation. Be it gin, vodka, rum, or beer, craft is becoming very important,” shared Prateek Chaturvedi, COO, Brewdog by adding that products made from hand, attention to details is very important. Customer know what kind of product they are looking for and are ready to pay extra for it. The game is you should know pairing it right with the food.
The report also mentioned that, Alcohol consumption in India amounted to about five billion liters in 2020 and was estimated to reach about 6.21 billion liters by 2024. The increase in consuming these beverages can be attributed to multiple factors including the rising levels of disposable income and a growing urban population among others.
To download the complete report, please visit: https://irecwire.indianretailer.com/article/whats-hot/indian-food-service-market-to-reach-79-65-bn-by-2028.a7887/