Foodaholics in Dhaka always love to discover new flavors. So even with hundreds of food joints springing up on a regular basis, the demand isn’t declining at all. Deciding where to eat in Dhaka is as hard, if not more, as cherry-picking what new pieces to splurge on in different seasons. With endless options from fast-food chains, cafes, fine dining spots to casual eateries, this part of the country is brimming with some of the best food stores you’re likely to ever have in your life. The upper echelon of fine dining experiences and the cozy environment have a stronghold in this city with the critically acclaimed best restaurants in the country. Also, the rise of FMCG industries, food delivery services, etc. has contributed greatly to the growth of the food service industry in Bangladesh in the recent decade.
RESTAURANT BUSINESSES IN DHAKA
The first outburst of the fast-food landscape was the rise of food-carts around the residential areas in Dhaka. These carts offered fast food at a highly competitive price, in contrast to the fewer posh restaurants, without compromising too much on quality. Over the years, food-cart businesses have become popular names in the city. Some of them are expanding to bigger and better things.
From moderately priced to more affordable options, the eateries, especially the ones in Gulshan, Dhanmondi, Baridhara, Bashundhara 300 ft, Mirpur, Malibag, Khilgaon, Hatirjheel, Mouchak, Mohammadpur, Baily Road and Puran Dhaka offers the best of kinds. These restaurants have the perfect décor with multiple design darlings partnered with dining ingenuity. From veg to freshly prepared meat, chicken and fish items, the exquisite experience with mouthwatering catering is a unique toss.
Over the years, Dhaka has experienced massive growth in the dining-out culture. More and more restaurant businesses in Dhaka are opening up to cater to budget-friendly customers, which in turn have seen a boom in the growth of these restaurants and cafes. Such great food experiences have skyrocketed the food service industry growth in Bangladesh.
FMCG (FAST MOVING CONSUMER GOODS): PackageD & FROZEN FOODs
Bangladesh has been experiencing high growth in the FMCG sector. This growth, as a result, is massively contributing to the food service industry. In Bangladesh, the FMCG industry can be classified into four major categories; food and beverage, personal and household care, pharmaceuticals and tobacco industries. The food and Beverage Industry includes all food-related products such as milk & dairy products, frozen foods, meat, edible oil, salt, sugar, and many others.
According to research conducted by EBL Securities Ltd. in 2019, the market size for ready-to-cook food and frozen packaged goods is around BDT 2,000 million. This market has been growing over the last 10 years and is expected to sustain in the coming years. At present, the market is growing 25.6% per year. Golden Harvest, Lamisa and Pran together hold a little over 50% of the market share. This study shows how Bangladesh is embracing the benefits of frozen, packaged and preserved foods and expanding the food service industry market as a whole.
CATERING BUSINESSES IN DHAKA
The catering business in Bangladesh has always been around. However, this segment of the food industry is gaining traction in the last few years. Catering services like Iqbal Hossain Catering Service, Alpha Catering, Salam Baburchi/Salam Catering Service, and Fakruddin Foods Limited have been changing the scene for the better. Moreover, with the implementation of social media’s collective marketing of several individual start-ups of passionate cooks or bakers, the catering business is on the vogue.
Food Delivery Business
Presently, food delivery happens to be one of the biggest and most profitable businesses. Also, this has been the most convenient approach to the widespread marketing of restaurants. It is the easiest solution for customers who want to buy food without visiting restaurants. With just a few clicks on their smartphone, they can order anytime and the food will be at their doors. This has increased food orders for the restaurants. Also, most of the restaurants are coming up with innovative marketing ideas to promote themselves through these food delivery services.
Promotions like free deliveries, promo codes, free meals, buy 1 get 1 offers, massive discounts, food challenges, etc are motivating people to engage with the services as well. Companies like Foodpanda, Hungry Naki, Uber Eats, Pathao Foods, Shohoz Foods, etc are giving each other a tough competition. They are coming up with thousands of strategies to promote their food delivery businesses.
Real Estate Business vis-a-vis Food Industry
Commercial real estate within Dhaka is maturing every year. Recently, if you have visited locations such as Dhanmondi, Khilgaon, Mohammadpur and Baily Road, you may have noticed that most new buildings have commercial spaces. These spaces cater, particularly to restaurants and café businesses. Commercial buildings along these residential locations are generally occupied by trendy restaurants. As food-based startups, experts view eatery-joints as profitable businesses. Furthermore, the need to house these eateries is becoming important as this sector continues to boom.
Food service industry is one of the most important and exclusive industries that contribute greatly to the country’s booming economy. It has more to contribute in the near future, locally as well as globally. Furthermore, the expansion of this industry will help us be one of the best in the global market. Our country’s franchise restaurants will become global trademarks very soon. The investors in this sector are also increasing rapidly. We are moving towards a future of lots of hopes and aspirations in the food service industry.