By Sakshi Singh, Contributory Author
Jan 13, 2023 / 7 MIN READ
In the last few decades, the seafood and fisheries industry in India has grown exponentially. In fact, in the year 2019, India ranked second among other fisheries producers, next to China. With the growing internal demand for seafood, the industry has not only seen a growth in production but in revenue as well. In the year 2019, the Indian Fish Market was valued at INR 1,224.3 billion, By the year 2025, it is estimated that this industry will grow to INR 2180 billion. It accounts for 7.96 percent of the total global fish production. While the statistics cleary shows thete certainly nothing ‘fishy’ happening in the fish industry things are not that pleasing when it comes to seafood or fish potential in QSR or fast food segment.
When considering the global QSR industry, many participants in the QSR and fast food industries have moved the focus to the seafood that they have to offer. The seafood and fish industry is well positioned to capitalise on growth opportunities in other countries. Not only are major seafood businesses adapting to meet the demand for sustainability, but they are also branding themselves more toward healthy or perceived healthy messaging.
However, in India, it was observed that McDonald's introduced fish into the Indian quick service restaurant ecology. The Filet-O-Fish sandwich is essentially just a fish fillet, a slice of cheese, and tartar sauce between between two steamed buns. It's almost like having simplicity in a burger box. Additionally, it is the only burger in India that follows the same recipe as the one served at overseas locations. Fish is almost as popular as chicken in many different states of India, if not more so. Since Filet-O-Fish is McDonald's only offering in the fish burger category, it was almost inevitable that it would become a customer favourite. Because there is such a large supply of fish of a high quality in Kerala, the state serves as the primary supplier of fish for Filet-O-Fish in India.
However, there are very few quick-service restaurants in India that specialise in serving fish dishes. The primary reason for this is that the culture in India places a strong emphasis on eating fresh fish. In all parts of India, fish is most often prepared in the form of a curry and eaten there.
This void was intended to be filled by Fishlee in India, which offers a tasty menu centred around fish at reasonable prices. Fishlee is a quick-service restaurant that uses fish as its primary protein source, challenging the status quo of chicken as the most popular alternative meat option for people who eat meat. Up until recently, the only options available to customers and fans of seafood who value fish were high-end restaurants or local establishments, and a simple, western-style fast food plan that served fish was not available.
The company provides a diverse selection of fish-based cuisines, such as fish and chips, brioche burgers in the manner of French cuisine, coastal fish curries, and prawn-based dishes, among other options. "We serve only the freshest seafood from squeaky-clean waters around the country in addition to high grade seasonal goods that are artistically cooked and presented," stated Abdullah Mushtaq, Founder of Fishlee.
But economic factors are another factor in why fish is not making its way to the QSR market, where it is desperately needed. In the majority of the regions, the price of chicken was noticeably lower than the price of fish, which provided chicken chain restaurants with an advantage over their QSR-focused competitors. Even while pricing may have become more comparable, the success of new chicken products has shown that there is a need for poultry among chain restaurants. Chicken, on the other hand, has been able to successfully rehabilitate its reputation, which is a critical component in making it a desired dish to have on menus; fish, however, has not been able to do so.
“One such explanation could be that quick-service restaurants routinely serve frozen patties and other foods. The consumption of frozen fish products is not particularly popular among Indian consumers. The market for frozen foods demonstrates this point in a very clear and convincing way. We can find frozen meals consisting of meat, chicken, and vegetables, but not fish in any form. That is evidence of the demand, which results in a limited supply,” Bhiku Kumar Delhi based food consultant commented.
Karen Tiede, U S based food author shared that “Fish is hard”. “It is much harder to run a fish / seafood restaurant than it is to run a burger restaurant. There is much less margin for error, and way more ways to go wrong. With less profit, there’s less incentive to make it happen,” she further commented. Fish is certainly yet to make its presence felt in the Indian QSR market, not so soon though!
In the last few decades, the seafood and fisheries industry in India has grown exponentially. In fact, in the year 2019, India ranked second among other fisheries producers, next to China. With the growing internal demand for seafood, the industry has not only seen a growth in production but in revenue as well. In the year 2019, the Indian Fish Market was valued at INR 1,224.3 billion, By the year 2025, it is estimated that this industry will grow to INR 2180 billion. It accounts for 7.96 percent of the total global fish production. While the statistics cleary shows thete certainly nothing ‘fishy’ happening in the fish industry things are not that pleasing when it comes to seafood or fish potential in QSR or fast food segment.
When considering the global QSR industry, many participants in the QSR and fast food industries have moved the focus to the seafood that they have to offer. The seafood and fish industry is well positioned to capitalise on growth opportunities in other countries. Not only are major seafood businesses adapting to meet the demand for sustainability, but they are also branding themselves more toward healthy or perceived healthy messaging.
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