Even if you aren’t a damn food lover, you cannot deny the way food segment is growing worldwide. The sophistication in the lifestyle along with the sophistication in the taste buds is driving this segment mad. We are in love with tasty spicy junk although moms are dreadfully campaigning against it every now and then. The economy is improving, there is significant creation of jobs, people with desired talent are getting hired and filling up the positions. To earn the desired skills that are required in getting hired for the job positions, people are pursuing higher education to earn degrees.
In this process of earning of degree, they are going through a process of personal development. Once hired, the profession impacts their lifestyle and they end up having lesser time and changed preferences.
YOU DON’T HAVE TIME NOW
There is rise in income level, the hours spent in office have increased, people are getting busy and busier with days even at home on weekends. Spending each day is as busy as a bee in search for the nectar. This way we are spending much less time at home thus homemade food is something that has become out of our reach. We prefer more of readymade and home delivery service. It can thus be said that shortage of time and demand for readymade food is contributing to the growth of food industry with the rise in per capita disposable income worldwide.
WE TREAT OUR BELLY WHEN POCKET IS LADEN WITH COINS
The rate of rise in per capita disposable income is convincing pupil to experience all the segments that they might have not ventured before. Many of them are now inclined towards expenditure in food and beverage to treat their cravings. The improving economy serving the rise in the per capita disposable income is also influencing people to travel the world on vacation. Past few years have shown an aggressive growth trend in the tour and travel industry.
A recent study published by WTTC predicted that the United States and China continues to lead the Travel & Tourism economies in the world. Interestingly Germany has overtaken Japan to rank as the third largest Travel & Tourism economy. Devaluation in ruble has unfortunately caused a decline in the earnings in Russia Travel and Tour Industry and thus a pitfall in food segment. One cannot deny, the higher the rise in Tour and Travel, the better the investments in food segment. South Asia is expected to experience the highest growth in 2015 at 6.9%, whilst Europe and Latin America are the regions with the lowest forecast growth of 2.4%.
A notable chunk of people are taking interest in culinary and opting this as another career option. Youngsters are honing their talents and aspiring to wear the badges of chefs. It is being considered that running a restaurant is one of the toughest segment of business. There are numerous food joints that have already gained loads of appreciation and have drawn a mass traffic towards itself.
It seems that with growing demand for mouth watering food, the supply to meet the demand is backed by the aspiring chefs, thus a proper co-existence. The existing market is potent enough to draw the attention of the investors if you are trying to venture into the food segment. However it’s really important to have a uniqueness in your ideas as there are already many established food joints with remarkable positions that continue to meet the demands.
Again, the rising diffusion of technology and the predominance of social networking are contributing at a significant level in reducing the cost of the resource deployment if you are looking to venture. The cloud computing is another factor that would motivate the growth curve to show positive inclination.