Italy Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Italy foodservice market is estimated to witness a CAGR of 1.24% during the forecast period.
Key HighlightsCafes and Bars emerge as one of the largest growing segment in the market with the growing preferences for coffee, soft drinks, and alcoholic beverages. Furthermore, the cafes offering affordable food products ranging from cold and hot meals are leading to an increased willingness to spend. Many companies are investing to launch their outlets in the country. For instance, in 2018, the giant player, Starbucks Coffee Company, launched its first outlet in the country. With the growing urbanization and improved lifestyle, Italians are increasingly preferring wine over other alcoholic drinks, uplifting the business for wine bars in the country.
Growing Frequent Eating Out TrendThe increasing frequency of Italians for eating out is majorly benefitting the foodservice sector of the country. According to FIPE, around 39 million Italians ate out in 2016, which accounted for 35.3% of the total revenue generated by food consumption in the country. The majority comprised of 34 million consumers eating lunch out on weekdays while the number of people dining out for dinner remained around 2 million. Italy holds more catering enterprises per square km when compared to any other country in the world, portraying a flourishing foodservice market in the country.
Competitive LandscapeItaly foodservice market is highly fragmented, due to the prevalence of several small scale players in the country. Impacted by the western cuisine, the Italian market is holding a prominent share by the chain outlets, such as McDonald's, Burger King, and Yum! Brands RSC. Moreover, the country has significant local and regional brands, such as Gruppo Sebeto, Lagardère Food Services SRL, and CAMST.
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