New Age Indian Sweets: Godrej's 2023 Report on Food Trends

New Age Indian Sweets: Godrej's 2023 Report on Food Trends

By Author

Published on November 14, 2023

As Diwali, one of India's most vibrant and celebrated festivals, approaches, the focus naturally shifts to one of the most cherished traditions of the festival – Mithai. These sweet delicacies, deeply rooted in Indian culture, are more than just treats; they are symbols of joy, tradition, and celebration. The Godrej Food Trends Report 2023 brings to light an exciting evolution in the world of Indian sweets, blending tradition with modern, health-conscious innovations.

A Glimpse into the Evolving Sweet Tooth

The report, a culmination of insights from over 350 culinary thought leaders including celebrity chefs, food bloggers, and healthcare professionals, delves into how Mithai is adapting to the changing palates and lifestyles of Indian consumers. It highlights three major trends reshaping the landscape of these traditional sweets:

  • Dietary Mithai Variations: A staggering 99% of experts foresee a rise in demand for Mithai with specialized dietary adaptations. This trend speaks volumes about the growing health consciousness among consumers, driving innovation in sweet offerings.

  • Gourmet and High-End Mithai: Around 75% of experts are excited about the emergence of contemporary twists on classic Mithai. These gourmet versions blend traditional flavors with innovative techniques, offering a tantalizing fusion of past and present.

  • Hyper-Regional Sweets: Equally, 75% of panelists observe a surge in interest for hyper-regional sweets. This trend reflects the growing curiosity around regional cuisines and underscores the dynamic and evolving Indian culinary landscape.

Mithai: A Timeless Favorite Adapting to Modern Times

Rushina Munshaw Ghildiyal, Managing Director of Perfect Bite Consulting and Curating Editor of the Godrej Food Trends Report, reflects on the unshakeable charm of Mithai. She notes that despite evolving food trends, Mithai continues to be a beloved tradition, now experiencing a resurgence with healthier options, regional specialties, and gourmet innovations.

Godrej Industries Limited and Associate Companies (GILAC) at the Forefront

Godrej Industries Limited and Associate Companies (GILAC), valued at $5 billion and with a history spanning 125 years, plays a pivotal role in various sectors including Chemicals, FMCG, Real Estate, Agriculture, and Financial Services. GILAC's commitment to 'Good & Green' drives its growth, creating an inspiring workplace and contributing significantly to India's diverse industries.

Expanding Global Footprint and Diverse Operations

Godrej Industries Ltd, the holding company of GILAC, operates in multiple domains like oleo-chemicals, surfactants, finance, and estate management. Its FMCG arm, Godrej Consumer Products Limited (GCPL), is a leader in Household and Personal Care Products, both in India and in developing economies globally. Godrej Properties Limited (GPL) brings innovation to real estate, while Godrej Agrovet Ltd (GAVL) focuses on enhancing productivity in Indian agriculture.

As Diwali draws near, the Godrej Food Trends Report 2023 offers a window into how traditional Indian sweets are not just enduring but thriving, adapting to contemporary tastes and lifestyles. It's a testament to the timeless appeal of Mithai and the innovative spirit of the Indian culinary scene.


Taylor Swift's Concerts Drive Record Revenue for Singapore Hotels

Taylor Swift's Concerts Drive Record Revenue for Singapore Hotels

By Nithyakala Neelakandan

Published on April 13, 2024

In March, Singapore's hotel industry experienced a remarkable surge in revenue thanks to six sensational concerts by Taylor Swift. According to preliminary data from CoStar, these concerts led to the highest average daily rate (ADR) and revenue per available room (RevPAR) on record.

Here's a snapshot of the impressive performance in March 2024 compared to the previous year:

Occupancy: 79.1% (+5.1%)

ADR: SGD358.91 (+12.7%)

RevPAR: SGD284.03 (+18.5%)

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Typically, occupancy levels are lower in the first and second quarters after the Chinese New Year, but Swift's Eras Tour injected much-needed energy into Singapore's hotel industry. During the concert dates from March 2nd to 4th and March 7th to 9th, daily occupancy rates soared, with peaks reaching 92.7% and 92.5% on Saturday, March 2nd, and Sunday, March 3rd, respectively.

Overall, the market consistently maintained daily occupancy levels above 70%, with Swift's performances driving ADR levels to a high of SGD438.36 on Saturday, March 2nd.

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The impact of Swift's concerts extended beyond Singapore, with CoStar highlighting a full analysis of the APAC Eras Tour. For additional insights and data requests, CoStar's world-leading hotel performance sample of 81,000 properties and 10.5 million rooms provides comprehensive information.

Taylor Swift's concerts not only entertained fans but also significantly boosted revenue for Singapore's hotel industry, setting new records in March. For more details about CoStar and its services, visit www.costargroup.com.


Ghost Kitchens India Expands with Acquisition of Shy Tiger Brands in Gujarat

Ghost Kitchens India Expands with Acquisition of Shy Tiger Brands in Gujarat

By Nithyakala Neelakandan

Published on April 13, 2024

Ghost Kitchens India, a leading food-tech platform, has acquired Shy Tiger Brands, a prominent cloud kitchen company headquartered in Ahmedabad. This acquisition follows Ghost Kitchens’ recent successful fundraising round of $5 million USD in February 2024, showcasing the company's financial strength and growth trajectory.

Established in 2018, Shy Tiger operates five multi-brand cloud kitchens across Ahmedabad, boasting an impressive annualized run rate (ARR) of INR 5 crores. Notable brands under its portfolio include KBOB’s and The Black Chimney. Ghost Kitchens’ acquisition of Shy Tiger aims to integrate its own brands into Shy Tiger’s infrastructure, thereby strengthening its foothold in Gujarat.

Commenting on the acquisition, Karan Tanna, Founder & CEO of Ghost Kitchens, expressed optimism about scaling existing brands and expanding into Ahmedabad and the wider Gujarat market. Tanna highlighted the strategic benefits of leveraging brand loyalty and high customer retention rates, anticipating improved unit economics and substantial revenue growth.

Ghost Kitchens has a track record of strategic acquisitions to enhance its operational capabilities. Previous acquisitions include technology firm WTF in 2022, enabling the development of proprietary technology, and Speak Burgers, led by celebrity Chef Vicky Ratnani, in February 2023, with plans for offline retail expansion.

Milapsinh Jadeja, Director of Shy Tiger, expressed confidence in Ghost Kitchens’ operational model and technological prowess, endorsing the partnership and validating Ghost Kitchens’ business strategy.

Founded in 2019, Ghost Kitchens operates over 15 company-owned and operated cloud kitchens in Mumbai and Ahmedabad, along with 1200 internet restaurants across 40 cities in India. With a focus on expanding its company-owned footprint, launching celebrity-endorsed brands, and venturing into retail, Ghost Kitchens aims to achieve an annualized revenue of approximately 200 crores within the next 2 years.

The acquisition of Shy Tiger Brands marks another milestone in Ghost Kitchens’ growth journey, signaling its commitment to delivering innovative dining experiences and expanding its presence across India.


Punjab Grill Teams Up with Venus Industries to Elevate Fine Dining Experience Nationwide

Punjab Grill Teams Up with Venus Industries to Elevate Fine Dining Experience Nationwide

By Nithyakala Neelakandan

Published on April 12, 2024

Punjab Grill has announced its exclusive partnership with Venus Industries, renowned for its premium stainless steel tableware and kitchenware. This collaboration will see Punjab Grill's outlets across India adorned with Venus' exquisite Pristine Gold Collection, adding a touch of opulence to the dining ambiance.

Since its inception in 1998, Punjab Grill has been synonymous with authentic Indian flavors and elevated dining experiences. With over 30 outlets in India and several international locations, Punjab Grill has consistently set the standard for fine dining, blending traditional Punjab cuisine with contemporary culinary techniques.

Venus Industries, led by Managing Director Vicky Khurana, boasts a legacy of excellence in crafting premium stainless steel tableware. Their Pristine Gold Collection, inspired by India's rich cultural heritage, features intricate designs that epitomize luxury and sophistication.

At the heart of this collaboration lies Venus' signature Pristine Gold Collection, a fusion of contemporary aesthetics and traditional Indian craftsmanship. Each piece, meticulously crafted from premium 18/10 stainless steel with brushed gold finishes, exudes elegance and panache, perfectly complementing Punjab Grill's regal ambiance.

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The partnership between Punjab Grill and Venus Industries signifies a shared commitment to quality, innovation, and customer satisfaction. With Venus' exquisite tableware gracing Punjab Grill's tables, diners can expect an unparalleled dining experience that celebrates India's culinary heritage and hospitality.

As Punjab Grill and Venus Industries embark on this exciting journey together, they aim to elevate the fine dining landscape in India and beyond. With a focus on sustainability, innovation, and customer-centricity, this partnership promises to set new benchmarks for luxury dining experiences.

The collaboration between Punjab Grill and Venus Industries heralds a new era of fine dining, where craftsmanship meets culinary excellence. With Venus' Pristine Gold Collection adorning its tables, Punjab Grill invites diners on a gastronomic journey that celebrates the artistry, heritage, and luxury of Indian cuisine.

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