Istanbul Catering Industry Overview to 2025 – Future Outlook and Projections –

DUBLIN–(BUSINESS WIRE)–The “Istanbul Restaurant Industry – Outlook to 2025: Driven by Changing Consumer Behavior and Rebounding Tourism Activity” report has been added to from offer.

This report provides an in-depth analysis of the catering industry in Istanbul – focusing on aspects such as the study of the food and beverage industry in Turkey as well as the HORECA segment, an overview of the delivery platforms of online food in Turkey, market size of HORECA segment in Istanbul, social and economic demographic of Istanbul, Istanbul district rating for attractiveness of foodservice customer cohorts, ecosystem support and company operating expenses and analysis of various restaurant categories (QSR, Fine Dining, Casual Dining, Hotel based Restaurants, Shisha Lounges, nightclubs, multi-cuisine, cafes, patisseries and desert lounges) business parameters, operational and financial base in Istanbul.

The report concludes with the impact of COVID-19, encompassing trends and challenges shaping the future outlook for the foodservice and catering industry in Turkey and analysts’ recommendations for weathering the difficult times of COVID- 19 and the economic downturn.

Turkey’s Economic Outlook

Turkey has a population of 84.3 million (2020), with a projected population of 90 million people by 2025. The country has seen a steady depreciation of its currency, the Turkish lira against the US dollar , with the USD/TL exchange rate having appreciated from 2.18 TL in 2014 to 7.90 in Q2 2021.

The Consumer Price Index (CPI) is indicative of rising inflation in the country, with the measure dropping from a value of 103.06 in the 4th quarter of 2015 to 206.82 in the 2nd quarter of 2021. In in addition, there are excessive levels of account deficit with low foreign exchange reserves; however, there are positives in the pipeline as well. Short-term measures include the reduction of interest rates by the TCMB (Central Bank of Turkey) to promote renewed growth and easy credit flow for customers, as well as an expansionary credit policy and plan stimulus package worth $15.4 billion, including loan and social security moratoriums. programs.

Overview of the food industry and the HORECA ecosystem

CAGR for Turkey F&B industry (in USD) is expected to be around 2.4% from year 2020 to year 2025.

People spend about 20% of their income on expenses related to restaurants and eating out. There are approximately 51,000 food companies in the country, along with 649 beverage companies, over 150,000 fast food outlets and over 3,000 hotels employing over one million people in 2020. Over 85% of food ingredients and drinks are imported. Turkey attracted around 16 million foreign visitors in 2020, whose spending accounted for around 23% of total spending on F&B activities for the year.

Restaurants contribute about 10% to the total market size of the F&B industry in Turkey, and the industry itself is expected to grow at a CAGR of 11% between 2020 and 2025.

Istanbul Demographics

About 18.5% of the population of Turkey’s population lives in Istanbul, and about 39.3% of foreigners visiting Turkey land in Istanbul. Istanbul also contributes almost 39% alone to the Turkish restaurant industry. 97% of households in Istanbul have access to internet services and the average monthly household income in Istanbul is around TL 7,613 or around US$550.

Istanbul is a preferred destination for foreign visitors from West Asia and Europe due to its geographical advantages, with Germany being the top country with 7.5% of total foreign visitor arrivals. Next come Iran, Russia, Iraq, France, the United Kingdom, the United States, Saudi Arabia, China and Kuwait. The European part of the city is the most popular tourist destination, with >85% of foreign visitors to Istanbul.

Restaurant Categories

Quick-service restaurants (QSRs) lead in end-user spending by restaurant categories. It also has the highest number of outlets compared to any other category in Istanbul and also fetches higher weekly footfalls. It has been observed that the franchise model is the preferred type of expansion that is done in the QSR, casual dining and coffee shop categories.

The occasional nature of demand in categories such as desert lounges, specialty food restaurants, and nightclubs causes them to contribute less to end-user spending in the F&B industry, collectively.

Rating of Istanbul neighborhoods

While Esenyurt is Istanbul’s most populous district, with a population of approximately 954,600 people, Fatih experiences the highest number of foreign visitors, followed by Beyoglu and Sisli; lending these neighborhoods a key avenue for restaurant business.

Istanbul Catering Industry Future Prospects and Projections

Istanbul’s restaurant industry is expected to grow with improving macroeconomic indicators coupled with a rebound in tourism activity. During the forecast period FY’21-FY’25, the catering industry in Istanbul is further expected to show an upward trend in terms of end-user spending, which will also lead to an increase in the size of the market. F&B industry market in Turkey, over the next 5 years.

Companies cited

  • McDonald’s

  • Burger King

  • Pizzeria Sbarro

  • KFC

  • Popeye’s

  • Simit Sarayi

  • Karafirin

  • panist

  • Pasa Doner

  • Usta Donerci

  • Great leader

  • Environment

  • good moon

  • Sazeli

  • Gunaydin

  • Kitchen

  • Mado

  • Emirgan Sutis

  • Ozsut

  • Kofteci Ramiz

  • Zuma

  • moon paper

  • Nusr-et

  • mario

  • Nobu

  • And many other companies!

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Cecil N. Messick