Turkey Food Service Market to Register a CAGR of 5.85% During the Forecast Period
Rising innovation in the cuisine and
an increasing working population of women are driving the growth in the Turkey food
service market in the forecast period, 2022F–2027F.
According to
TechSci Research report, “Turkey Food Service Market
- By Region, Competition, Forecast & Opportunities, 2017-2027” The Turkey food service market would
potentially project impressive growth during the forecast period, 2022F–2027F, registering
a CAGR of 5.85% on account of the effects of
rapid population expansion, women entering the workforce, increasing income
levels, eating out more frequently, and the rate at which cities are urbanizing
are the certain crucial factors influencing the growth of Turkey food service market
during the forecast period.
Moreover, with
the increasing pace of life among the young people and limited amount of time
for cooking, and the impact of advertisement has played a significant role in the
demand for food service sector. Along with the rise in foreign-owned fast-food
outlets, the survey also noted the emergence of domestic brands. In Turkey, the
food services industry has progressed from locally owned, family-run businesses
to international collaborations with multipolar and integrated corporate
models. Despite the dominance of fast-food chains supported by foreign
investors, domestic companies are attempting to expand by showcasing products such
as hamburgers, pizza, sausage bread, sandwiches, lahmacun, pita bread, meatballs,
pancakes, doner, toast, pastry, kokorec, mussels, raw meatballs, simit, as well
as other products. However, the presence of international players is influenced
by the domestic culture. For instance, all the Quick Service Restaurant Companies
that operate through chained ownership within the country are operating at
different locations abroad, mainly carrying out their activities in European
countries and the Middle East, where Turks live in a large number, but these
businesses are asked to be certified with the “halal food certification”.
The Turkey food
service market is segmented on the basis of type, ownership, domestic vs. international
brands, regional distribution and competitive landscape. Based on type, the
market is further fragmented into Dining Service (Hotels, Restaurants), PBCL
(Pubs, Bars, Cafes and Lounges), QSR (Quick Service Restaurants), and Others (Cafeteria,
Cloud Kitchen, Vending Companies). QSR sub-segment offering foods such as burgers,
pizza, donuts, etc., is expected to register the largest revenue share of the
market and dominate the market segment in the upcoming five years, as most of
the younger generation of Turkey are in favor of QSR when it comes to the
choice of dining they prefer. These are some of the major factors influencing Turkey's
food service market growth.
Based on
ownership, the market is segmented into chained outlets and standalone outlets.
The chained outlet is one of the major contributors to the growth of the food
service market, as the preference for chained outlets has increased in recent years
due to the factors such as standardized taste, maintained hygienic factors,
quick service, as well as the availability of a wide range of foods are some of the major factors influencing the
customers, , are some of the contributing factor for these QSR segment in Turkey.
Key market
players in the Turkey Food Service Market include:
- TAB Gida San ve
Tic AS
- Shaya Kahve San
ve Tic AS
- Pizza
Restaurantlari AS
- Anadolu
Endüstri Holding AS (McDonald's)
- Yasar Dondurma
ve Gida AS
- Komagene
(Yörpas Yöresel Yiyecekler AS)
- Tavuk Dünyasi
(TD Gida Sanayi ve Tic Ltd Sti)
- Kahve Dünyasi
(Altiniliclar Gida San Ve Tic Ltd Sti)
- Oses (Oses Grup
Gida San ve Tic Ltd Sti)
- Dogus Grubu
Customers can also request for
10% free customization on this report.
The threat of
new competitors in this industry is limited due to Strict rules and guidelines
provided by the government of Turkey. For instance, some of the chains such as
Zuma, reduced the size of their Turkish operations. Moreover, due to
limitations on specific ingredients' imports, The Cheesecake Factory apparently
decided against entering the Turkish market.
As most of the
more significant portion of Turkey's population with the highest GDP resides in
the Marmara region, it is expected to contribute a significant portion to the
market's revenue share. However, the consumption of the food service market
such as QSR and PBCL is majorly found within the region as it includes
metropolitan cities such as Istanbul and Bursa that cover a large percentage
share of migrants and tourism, which plays a crucial role in the contribution
of the growth to the market in the upcoming five years. Moreover, the rapidly
increasing demand for food services from commercial establishments such as
hospitals, offices, and other institutions are considered to be the primary
reasons for growing food service consumption in Turkey.
“With the
highest population of the youngsters and a number of tourists visiting the
country are the certain driving factors for the rising demand for food service
sector which is influencing majorly to the growth of this industry. Furthermore, the market is
influenced in a positive manner by the contribution of growing competition
among the traditional food outlets and the international food offering outlets.
These are the specific factors that may influence the growth of the Turkey Food
Service Market in the upcoming five years.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Turkey Food Service Market By Type (Dining
Service (Hotels, Restaurants), PBCL (Pubs, Bars, Cafes and Lounges), QSR (Quick
Service Restaurants), and Others (Cafeteria, Cloud Kitchen, Vending Companies)),
By Ownership (Standalone Outlets and Chained Outlets), By Domestic Vs. International
Brands, By Region, Competition, Forecast & Opportunities, 2017-2027”, has evaluated the future growth
potential of the Turkey Food Service market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Turkey Food Service Market.
Contact
Mr. Ken Mathews
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Tel: +1-646-360-1656