Improvement in macroeconomic indicators coupled with re-bound in tourism activity is expected to propel growth in restaurants industry of Istanbul at a CAGR of ~10.3% between FY'20 to FY'25: Ken Research
GURUGRAM, India, April 7, 2022 /PRNewswire/ --
Changing Customer Behaviour: The industry will observe changing customer behaviour to become more online savvy. Rise of food delivery platforms like Yemeksepati, Fuudy, Tikla Gelsin, Trendyol Yemek, Zomato has shifted the perspective of restaurants and partner with these startups. Apart from that, with increasing health consciousness, customers, in addition to adopting veganism, are also chasing low sugar, low fat and gluten-free foods. Restaurants are highlighting such food items in the Menu to attract such customers.
Ease of Doing Business: Turkey ranks at 33rd among 190 nations in terms of ease of doing business index published by World Bank. It is expected that the recent future will see further improvement owing to majority of compliance related formalities shifting online. Apart from that, reduction in the time period for obtaining licenses and permit will positively impact Turkey's position as per the index.
Future Outlook: The restaurant industry in Istanbul suffered a ~30% Y-o-Y dip in 2020 in terms of the market size due to the lack of tourist influx and restrictions imposed by the government. However it is predicted that the tourist inflows will increase at a CAGR of ~23.9% and consequently boost the HoReCa sector. The market size is forecasted to increase at a CAGR of ~10.3% between FY'20 and FY'25 with the industry returning to the pre-pandemic level.
The report titled "Restaurant Industry in Istanbul - Outlook to 2025: Driven by changing consumer behaviour and rebound in tourism activity" by Ken Research suggested that the Restaurant Industry in Istanbul is expected to grow further in the near future, with increasing experience savvy consumers and online food delivery ecosystem. The market is expected to register a positive CAGR of ~10.3% in terms of transaction value during the forecast period of FY'20-FY'25./
Key Segments Covered in Restaurant Industry in Istanbul:-
- Market Size of Restaurant Industry in Turkey on the basis of transaction value
- Market Size of Restaurant Industry in Istanbul on the basis of transaction value
- Segmentation by type of visitor
- Domestic visitor
- Foreign visitor
Key Target Audience:-
- Restaurants and Hotel Chains
- Food Aggregators
- Catering Companies
- Real Estate Companies
- Potential Market Entrants
Time Period Captured in the Report:-
- Historical Period: 2015-2021
- Forecast Period: 2021-2025F
Companies Covered:-
Quick Service Restaurants:
- McDonald's
- Burger King
- Sbarro Pizzeria
- KFC
- Popeye's
- Simit Sarayi
- Karafirin
- Panista
- Pasa Doner
- Usta Donerci
Casual Dining Restaurants:-
- Big Chef's
- Midpoint
- Happy Moon's
- Sazeli
- Gunaydin
- Cookshop
- Mado
- Emirgan Sutis
- Ozsut
- Kofteci Ramiz
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Fine Dining Restaurants:-
- Zuma
- Paper Moon
- Nusr-et
- Da Mario
- Nobu
- Vogue
- Spago
- 360
- Sunset Bar & Grill
- Lacivert
Hotel based Restaurants:-
- 16 Roof, Swissotel
- Mikla
- Spago
- Tugra
- Shang Palace
- Toro
- Novikov
Shisha Lounges
- Huqqa
- PS Lounga
- Ajjna
- Lulu
- Ali Baba Nargile
- Azure the Bosphorous
Middle Eastern Cuisine Restaurants:
- Tahin
- Hatay Medeniyetler Sofrası
- Buuzecedi
- Arada Beyrut Cafe
- Al Hallab
- Arada Endulus
- Nomads
Nightclubs
- Sorite
- 360
- Klein
- Ulus 29
- Oligark
- Masquarade
Coffee Shops
- Espresso Lab
- Viyana Kahvesi
- Petra
- Kronotrop
- Kahve Dunyasi
- Cup of Joy
- Coffee Department
- Ministry of Coffee
- Walter's Coffee
- Coffeetopia
Patisserie and Desert Parlours
- Vakko
- Baylan
- Mendel's
- Maia
- Divan
- Pelit
- Asuman
Key Topics Covered in the Report:-
- Socio-Demographic Outlook of Turkey
- Economic Outlook of Turkey
- Overview of F&B Industry in Turkey
- Snapshot on Online Food Delivery Platforms in Turkey
- Market Size of Restaurant Industry in Turkey
- Socio-Demographic Outlook of Istanbul
- Foreign Tourist Arrival in Istanbul
- Major District Clusters in Istanbul
- Market Size of Restaurant Industry in Istanbul
- District Analysis of Istanbul in terms of Location, Ecosystem and Business Operations
- Analysis of Categories of Restaurant in terms of Operating Parameters
- Quick Service Restaurants in Istanbul
- Analysis of Casual Dining Restaurants
- Analysis of Fine Dining Restaurants
- Analysis of Hotel Based Restaurants
- Analysis of Shisha Lounges
- Analysis of Cuisine Specific Restaurants
- Analysis of Nightclubs
- Analysis of Coffeeshops
- Analysis of Patisserie and Desert Parlours
- Business Environment in Turkey
- Impact of COVID-19 on Restaurant Industry
- Future Outlook of the Industry
- Coffee shops in Istanbul
- Company Profile of Fuudy
- Company Profile of Getir Yemek
- Company Profile of Tikla Gelsin
- Company Profile of Yemeksepeti
- Covid-19 Impact Istanbul Restaurant Market
- Cuisine Specific Restaurants in Istanbul
- District Analysis of Istanbul
- Ease of Doing Business Index Turkey
- Economic Outlook of Turkey
- Fine Dining Restaurants in Istanbul
- Food & Beverage Industry Ecosystem
- Food & Beverage Industry of Turkey
- Future Outlook of Food & Beverage Market in Turkey
- Future Outlook of Restaurants Industry in Istanbul
- Hotel based Restaurants in Istanbul
- Impact of COVID-19 on Turkey Restaurant Industry
- Import-Export Scenario of F&B Industry
For More Information on the research report, refer to below link:-
Restaurant Industry in Istanbul
Related Reports:-
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Indonesia's catering market revenue has grown from USD ~ million in 2012 to USD ~ million in 2017, attaining a robust CAGR of ~% during the second half of the review period (2014-2017) as compared to ~% during the first half (2012-2014). The market witnessed a robust CAGR of ~% during the entire review period (2012-2017). The market is currently placed in a medium growth stage with a strong possibility for further growth at a faster pace. Profitability associated with catering is highly correlated with multiple factors such as food quality and premium cuisine type during various individual events & its effective interpretation, cost reduction related to transportation of raw materials, minimization of wastage, sustaining & expanding client relationships, engaged with multiple event halls with different capacities, efficient & effective service provided amongst various others.
The estimated profitability range for the event and pure-play caterers has been analyzed to be ~% in 2017. The number of healthcare centers in the country has increased from ~ in 2012 to ~ in 2017. Similarly, the number of private hospitals expanded from ~ to ~ during 2012-2017. The number of MICE events being organized increased from ~ to ~ within one year by the end of 2016. The total number of registered weddings in the country reached a mark of ~ by the end of 2017. The total number of foreign tourists has surged to reach ~ million international arrivals in 2017 as compared to ~ million in 2012. All of the above-mentioned factors along with ease of doing business and conducive work environment in the country have affected the catering market demand positively in Indonesia.
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