Virginia Woolf once famously quoted “One cannot think well, love well, sleep well, if one has not dined well.” The love of food is enamored in a bonding with the soul of all Bangladeshis. Nowadays, there isn’t a corner you can turn, or a floor in a building you can’t look at without finding a café or a restaurant.
The food service industry in Bangladesh has evolved dramatically. Over the last several years, newer and newer restaurant businesses in Dhaka city have popped up. Going out to eat with your friends and families is gradually becoming a culture amongst the people of Bangladesh. Furthermore, with the rise of social media awareness in Bangladesh, people are being introduced to the wonders of fast food evolution from the outside world. The following areas of the food service industry of Bangladesh are experiencing booming prosperity:
Restaurant Businesses in Dhaka
There was once a time in Bangladesh, when if you wanted to go for Hakka Chinese, there were very few places to choose from like Xianxian Restaurant and Chilis. Now, there is Hakka Dhaka and Mainland China among numerous Chinese food specialists, and that too in Dhaka city.
The first outburst of the fast food scenario was established by the rise of food-carts around 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 like Takeout and Madchef (popular local burger joints) became household names in the city, with the former opening their first overseas franchise in Sri Lanka after 5 years of operations in Bangladesh.
Over the years, Dhaka has experienced a 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.
Fast Moving Consumer Goods: (Food & Frozen Goods)
Bangladesh has also experienced a growth in the FMCG sector. In Bangladesh, the FMCG industry can be classified in three major categories; Food and Beverage, Personal Care, and Household Care Industries. The food and Beverage Industry includes all food related products such as milk & dairy products, frozen foods, meat and many others.
According to a data conducted by EBL Securities Ltd., 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 20% per year. Golden Harvest, Lamisa and Pran hold a little over 50% of the market share together. This study goes to show how Bangladesh is embracing the benefits of frozen packaged goods and is helping this sector grow.
Catering Businesses in Dhaka
The catering business in Bangladesh has always been around. However, this segment of the food industry is gaining tract. Catering services like Iqbal Hossain Catering Service, Salam Baburchi/Salam Catering Service and Fakruddin Foods Limited have been changing the scene for the better. Moreover, with the implementation of social media like Facebook, individuals – passionate cooks or bakers – took it upon themselves to start catering businesses by selling their own products.
How is it Beneficial to the Real Estate Industry?
Commercial real estate within Dhaka is maturing every year. In the last few years, if you have visited locations such as Dhanmondi and Baily Road, you may have noticed that most new buildings have been allotted for commercial use, particularly to cater to restaurant and café businesses. Commercial buildings along these residential locations are generally occupied by trendy restaurants. As food based startups, eatery-joints are viewed as profitable businesses and the need to house these eateries is becoming important as this sector.