Italian foodservice profit sector saw revenue growth at a CAGR of around 2% between 2014 and 2016. This is expected to slow down to a CAGR of 1.6% in the years to 2021. The slowing growth of the foodservice market reflects the fortunes of the wider economy in Italy, as money-conscious consumers are either cutting back on foodservice occasions, or trading down to lower cost options.
QSR channel is one of the fastest-growing channels in the Italian foodservice market. The channel grew at a CAGR of 2.4% between 2014 and 2016, but this is forecast to slow to a CAGR to 1.7% to in the years to 2021.
QSR is the only channel that has a significant presence of chains and franchises. Large international brands including McDonald's, Restaurant Brands International’s Burger King, and Italian Autogrill, are key players in this channel. QSR is also the only channel in which takeaway options represent a sizeable proportion of transactions, with about 48% of revenue in QSR derived from takeaway transactions.
FSR channel is the second largest by overall revenue. Sales value in the channel rose at a CAGR of around 1.9% between 2014 and 2016. This is forecasted to contract to 1.4% through to 2021, as the Italian economy continues to post sluggish growth.
Coffee and tea shops are the largest channel by revenue in the Italian foodservice market. The coffee culture is deeply rooted in Italian society, with operators in other countries attempting to market Italian coffee practices. The channel has seen similar growth to QSR and is also expected to slow to 2021.
The report Italy - The Future of Foodservice to 2021, provides extensive insight and analysis of Italy’s Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.
In depth, this report provides the following:
Overview of Italy’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Italy’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, Coffee & Tea Shops, Pubs, Clubs and Bars) within Italy’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 Italian population.
Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
Case Studies: Learn from examples of recent successes and failures within the Italian foodservice market.
Companies mentioned in this report: A Cento Spa, Autogrill Spa, Bottega Dei Sapori, Burger King, Cigierre Spa, Fratelli La Bufala, GruppoCremonini, Gruppo la Piadineria, GruppoSebeto, Hard Rock Café International, Inc., Illy Caffè Spa, Kimbo Spa, Luigi Lavazza Spa, McDonald's, Old Wild West, Restaurant Brands International, Roadhouse Grill, Segafredo Zanetti Spa, Spizzico.
A weak economy has driven consumers to become increasingly value focused when eating out-of-home, driving sector-leading growth in inexpensive and convenience-led channels (i.e. coffee and tea shops and QSR) during 2016-2021.
Coffee shops and traditional FSR are ingrained into Italian culture. Visit frequency is notably high in coffee shops, with visits firmly embedded into consumers’ routines. However, some consumer groups are beginning to demand more options from the channel, especially with regard to food. Although FSR are seeing increased competition from an improving QSR channel, FSR operators should not be tempted to compete solely on price.
Localism rules in Italy. Although QSR operators have previously been regarded as an affront to Italian cuisine, many are introducing increasingly localized products to appeal to traditional consumers. However, most consumers still associate the channel primarily with convenience, rather than high quality food.
Reasons to buy
Specific forecasts of the foodservice market over the next five years (2016-2021) 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, Coffee & Tea shops, Pubs, Clubs and Bars) will allow readers to understand the wants and needs of their target demographics.
Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within Italy’s foodservice market.