Italy Foodservice Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Italian Foodservice Market is projected to register a CAGR of 2.12% over the next five years.
Continuous growth in brand franchising, increased demand for healthier and quality food, and booming digital commercialization are a few factors augmenting the food service market in Italy. Further, supplemented by active tourism, Italy remains one of Europe's largest foodservice markets. According to the United Nations World Tourism Organization (UNWTO), nearly 27 million foreign visitors in the current year visited Italy, an increase of 6.7% over the previous year. Lombardy, Lazio, and Campania account for the country's highest food service establishments.
Increasing consumer preference for convenient and on-the-go food options is the crucial attribute driving the growth of the food service market in Italy. ?Changing food consumption patterns and the increasing influence of national and international cuisines on food consumption habits are likely to drive consumer spending on food services. Cafes and bars have become famous for millennial consumers to socialize and celebrate special events with friends and family. Furthermore, the rapid expansion of infrastructure and urbanization is enabling the penetration of chain foodservice in the recent past.
Italy Foodservice Market Trends
Increased Demand for Cafes and Bars
Cafes and Bars are one of the largest growing segments in the market, with ever-increasing preferences for coffee, soft drinks, and alcoholic beverages. Increasing global exposure, western culture, and penetration of established coffee brands are anticipated to be the key factors driving coffee chains' expansion, including cafes. Furthermore, the cafes offering affordable food products ranging from cold to hot meals increase consumers' willingness to spend. Many companies are investing in launching their outlets in the country. For instance, in 2022, the giant Starbucks Coffee Company opened its first drive-thru in Italy at Erbusco in the northern Lombardia region. With the growing urbanization and improved lifestyle, Italians increasingly prefer wine over other alcoholic drinks, uplifting the business of wine bars in the country. The rising penetration of chained cafes and bars and the upward trend of socializing at bars and cafes among millennials are key factors contributing to the growth in the cafes and bars segments. In addition, consumers are willing to spend on exotic flavors of beverages and desserts. This, in turn, drives the increased number of specialty coffee shops across Italy.
Increasing Frequency of Eating Out
The increasing frequency of Italians eating out is majorly benefitting the country's food service sector. According to the Federazione Italiana Pubblici Esercizi, the out of home food consumption increased from EUR 30,367 million in 2020 to EUR 57,626 million in the year 2021. Additionally, Italy holds more catering enterprises per square kilometer when compared to any other country in the world, portraying a flourishing food service market in the country.
In recent years, the market has witnessed significant penetration of full-service restaurants (FSRs) with the expansion of leading brands across major parts of the country. FSRs are also one of the fastest-growing segments as consumers are increasingly preferring convenient and exciting dining-out experiences. Growth in the working women population, infrastructure development, and growth in the upper-middle-class population are key factors influencing the increased spending on fine dining services.
Italy Foodservice Market Competitor Analysis
Italy's food service market is highly fragmented due to the country's prevalence of several small-scale players. American-style fast food chains and salad bars are gaining popularity in the Italian market. This move towards more convenient dining has led Italian importers to seek U.S. food products adapted to self-service eateries. Impacted by western cuisine, the Italian market holds a significant share in the chain outlets, such as McDonald's Corporation, Burger King, and Yum! Brands Inc. Moreover, the country has substantial local and regional brands, such as Gruppo Sebeto, Lagardere Food Services SRL, and CAMST.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Full-service Restaurant
5.1.2 Self-service Restaurant
5.1.3 Fast Food
5.1.4 Street Stall and Kiosk
5.1.5 Cafe and Bar
5.1.6 100% Home Delivery Restaurant
5.2 By Structure
5.2.1 Independent Consumer Foodservice
5.2.2 Chained Consumer Foodservice
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 McDonald's Corporation
6.3.2 Domino's Pizza Inc.
6.3.3 Yum! Brands Inc.
6.3.4 Burger King
6.3.5 Gruppo Sebeto
6.3.6 Starbucks Corporation
6.3.7 Lagardere Food Services Srl
6.3.8 CAMST
6.3.9 Accor Hotels Group
6.3.10 Autogrill SpA
6.3.11 Starhotels SpA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 DISCLAIMER
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