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Food &
Bever-
age.

Strategic intelligence across packaged foods, beverages, dairy, food ingredients, quick service restaurants, and food technology — for manufacturers, foodservice operators, ingredient suppliers, and investors feeding Asia's 4 billion consumers.

100+
F&B engagements completed
14yr
Sector experience
11
F&B markets covered
$1.0B
Decisions supported
Coverage Areas

Every category across
food and beverage.

01 · Packaged Foods

Packaged & Processed Foods

Consumer preference research, category demand sizing, price-pack architecture optimisation, and competitive landscape mapping for packaged food manufacturers competing in India's premiumising but value-conscious domestic food market.

Category demandPack architectureConsumer preference
02 · Beverages

Beverages, Juices & RTD

Consumer occasion mapping, health and wellness beverage adoption, RTD market sizing, and competitive benchmarking for beverage companies launching or scaling in India's diverse, geography-fragmented drinks market.

Occasion mappingHealth beveragesRTD sizing
03 · Dairy & Proteins

Dairy, Protein & Alternative Nutrition

Dairy consumption behaviour, protein supplement adoption, plant-based dairy acceptance, and supply chain intelligence for dairy processors, value-added dairy companies, and alternative nutrition players in South Asia.

Dairy consumptionProtein adoptionPlant-based research
04 · Food Ingredients

Flavours, Additives & B2B Ingredients

Industrial food ingredient demand mapping, formulation trend intelligence, B2B procurement behaviour research, and competitive benchmarking for flavour houses, additive suppliers, and specialty ingredient companies entering Indian food manufacturing.

B2B procurementFormulation trendsIngredient demand
05 · Foodservice & QSR

Restaurants, QSR & Food Delivery

QSR franchisee unit economics, food delivery platform competitive dynamics, casual dining consumer research, and white space location analysis for restaurant chains, food delivery platforms, and foodservice investors in South Asia.

Franchisee economicsDelivery dynamicsLocation analysis
06 · Food Technology

FoodTech, AgriTech & Novel Foods

Alternative protein consumer acceptance, food waste reduction technology adoption, vertical farming feasibility, and investment landscape mapping for food technology companies and investors targeting the future of South Asian food systems.

Alt-protein acceptanceFood waste techVertical farming

Questions we've answered for
food & beverage clients.

These are the actual questions clients bring to us. We've answered some version of each of them, multiple times, across multiple geographies.

What is the real addressable market for premium packaged snacks in India's Tier 2 cities — and is the demand structural or is it a post-COVID urban aspirational spill that won't hold?
We're a global beverage company evaluating an Indian health drinks acquisition at 6x revenue. How defensible is the brand, how real is the repeat purchase rate, and which retail channels are actually sustainable?
Our QSR chain is profitable in Mumbai and Delhi but losing money across 8 Tier 2 cities. Tell us whether the problem is the location selection, the menu, the price point, or the cost structure.
We're an international food ingredients company entering India's B2B food manufacturing market. Which categories are the right entry point, which 20 food companies do we target first, and what does our sales team need to know?
Who will own India's food delivery market in 2028 — the platform aggregators, the cloud kitchen chains, or the QSR incumbents building their own direct channels — and what is the defensible position?
Our plant-based protein brand has strong urban trial but 80% of first-time buyers don't repurchase. Tell us whether the barrier is taste, price, distribution, or the fact that the consumer isn't actually motivated by what we're selling.
Food & Beverage Case Studies

Evidence of
decisions made better.

FB.01 · Packaged Foods · India

$85M Snacks Brand Acquisition DD

PE fund acquiring a premium Indian snacks brand at 5x EBITDA. NEO ran consumer brand health tracking, repeat purchase verification through retailer research, and modern trade vs general trade channel concentration assessment. Acquisition completed.

Brand health confirmed · Channel risk quantified
Read Case Study
FB.02 · QSR · South Asia

QSR Franchise Feasibility: 30-City India Rollout

International QSR chain planning India expansion. NEO ran consumer preference research in 15 cities, franchisee unit economics benchmarking, real estate location analysis, and competitive positioning against domestic QSR incumbents.

8-city Phase 1 approved · Unit economics validated
Read Case Study
FB.03 · Food Ingredients · India

B2B Ingredient Market Entry: Flavour House

European flavour and fragrance company evaluating India market entry. Procurement behaviour research across 40 food and beverage manufacturers, competitive landscape benchmarking, and India JV partner shortlisting.

Market entry approved · JV partner shortlisted
Read Case Study
Food & Beverage Intelligence

Latest food & beverage
thinking.

Market Report

India's Premium Food Market: Consumer Research Across 12 Cities on What Premiumisation Means, Who Is Paying, and Why Most Brands Get It Wrong

March 2026
Strategy Brief

The Indian QSR Expansion Trap: Why Tier 2 Rollouts Fail and What Unit Economics Actually Require to Work

January 2026
Due Diligence Note

Food & Beverage M&A DD: Brand Health Verification, Repeat Purchase Rates, and the Channel Concentration Risk Nobody Prices

November 2025
Food & Beverage Practice Leadership

The team behind
the intelligence.

AK
Partner & F&B Practice Lead
Ananya Kapoor

17 years in food and beverage strategy and consumer research. Led 55+ market entry, brand positioning, and M&A mandates across packaged foods, beverages, dairy, and foodservice in South and Southeast Asia. Former BCG Consumer Practice.

RS
Director — Consumer Foods & Beverages
Rahul Sood

Specialist in food and beverage consumer research and competitive intelligence. 13 years of consumer preference research, pack architecture analysis, and brand health tracking across India's complex multi-geography food market.

MP
Director — Foodservice & Food Tech
Meera Pillai

10 years in QSR, food delivery, and food technology market intelligence. Specialist in franchisee economics, food delivery platform competitive analysis, and alternative protein adoption research across South and Southeast Asia.

A food and beverage decision
you need to get right.
Brief the Food & Beverage Practice →

Licensing Options

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5% or 16 hours customisation
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US $8,450
Report accessible to unlimited users
Rights to print / edit
40 hours of post-sales assistance by Market Analyst
20% or 70 hours customisation
Direct access to Lead Analyst
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