Turkey Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026

Turkey Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026

Summary

“Turkey Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026” published by GlobalData provides extensive insight and analysis of the Turkish Foodservice market over the next five years (2021-2026) and acts as a vital point of reference for operators or suppliers.

In 2021, the Turkish profit sector generated total revenue of TRY132.9 billion ($15 billion), a 1.7% increase from TRY122.4 billion ($40.5 billion) in 2016. Increased sales through the QSR and coffee & tea shop channels drove this growth. However, growth remained subdued due to negative transaction count growth during 2016-21, which fell slightly at a CAGR of 2.8%. Take-aways and deliveries played a crucial role in the foodservice sector as dine-in services were prohibited during the COVID-19 pandemic. Independent operators continued to dominate Turkey’s profit sector in terms of sales. However, chain operators fared better than independent operators during the pandemic owing to their greater financial stability and quick adaptation to changing consumer demands. Turkey’s profit sector is forecast to record growth at a CAGR of 49.8% during 2021-26.

The report includes -

• Overview of Turkey’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Turkey's foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, and Coffee & Tea Shop) within Turkey’s foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Turkish population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

• QSR was the second-largest channel in the Turkish foodservice profit sector, with a share of 24.1% in 2021. The channel’s sales grew from TRY19.3 billion ($6.4 billion) in 2016 to TRY32 billion ($3.6 billion) in 2021, registering a CAGR of 10.6%, primarily driven by the rise in take-away and home delivery sales as consumers avoided dine-in occasions amid the COVID-19 pandemic.
• The FSR channel accounted for the highest value sales in 2021, at TRY40,379 million ($4,571 million). The channel recorded a negative CAGR of 5.2% during 2016-21 owing to the shutdown of public spaces and restaurants. Furthermore, many consumers opted to stay at home to avoid areas that are deemed highly risky, relying more on food delivery services.
• The coffee & tea shop channel accounted for 11.2% of the profit sector’s sales in 2021. The channel was valued at TRY14.9 billion ($1.7 billion) in 2021 and registered growth at a CAGR of 0.3% during 2016-21. The channel is projected to grow at a CAGR of 44.8% during 2021-26, primarily led by rising transaction count and average transaction value.

• Specific forecasts of the foodservice market over the next five years (2021-26) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, and Coffee & Tea Shop) will allow readers understand the wants and needs of their target demographics.