Restaurant Industry in Istanbul - Outlook to 2025: Driven by changing consumer behavior and rebound in tourism activity

KR1115
Slides: 72
January 2022
Author(s): Lakshay Aggarwal, Angshuman Dutta
Total Views:2170
Region : Europe
Ken Research
Market Research Report

Buy Now Ask For Customization Download Free Sample

About the Report

The report titled “Restaurant Industry in Istanbul - Outlook to 2025: Driven by changing consumer behavior and rebound in tourism activity” provides an in-depth analysis of the restaurant industry in Istanbul – focusing on aspects including study of food and beverage industry in Turkey along with HORECA segment, snapshot on online food delivery platforms in Turkey, the market size of HORECA segment in Istanbul, social and economic demographic of Istanbul, district-wise evaluation of Istanbul for attractiveness to restaurant business basis customer cohorts, ecosystem supportiveness and business operating expenses and analysis of the various categories of restaurants (QSRs, Fine Dining, Casual Dining, Hotel based Restaurants, Shisha Lounges, Nightclubs, Multi-cuisine, Coffee-shops, Patisserie and Desert Parlours) basis business, operational & financial parameters in Istanbul. The report concludes with the impact of COVID-19, encompassing trends and challenges shaping the future outlook of the restaurants and F&B industry in Turkey and recommendations from analysts to sail through the difficult times of COVID-19 and the economic downturn.

Economic Outlook of Turkey

Turkey has a population of 84.3 Million people (2020), with a projected population of 90 Million people by the year 2025. The country has been witnessing a steady depreciation of its currency, the Turkish Lira against the US Dollar, with the USD/TL exchange rate has appreciated from TL 2.18 in 2014, to 7.90 in Q2 2021. The Consumer Price Index (CPI) is indicative of the rising inflation in the country, with the metric having gone from a value of 103.06 in 4^th quarter of 2015, to 206.82 in the 2^nd quarter of 2021. Further, there exist excess levels of current account deficit along with low forex reserves; however there are positives in the pipeline as well. Short-term measures include reduction in interest rates by the TCMB (Central Bank of Turkey) to promote growth revival and easy credit flow to the customers, along with an expansionary credit policy and a stimulus package worth USD 15.4 Billion, including loan moratoriums and social security programs.

Overview of Food and Beverage Industry and HORECA Ecosystem

The CAGR for the F&B industry of Turkey (in USD denomination) is projected to be ~2.4% from the year 2020 to the year 2025.

People spend roughly 20% of their income on F&B related expenditures, along with having high preferences of dining out. There are around 51,000 food companies in the country, along with 649 beverage firms, 150,000+ fast food outlets and more than 3,000 hotels employing more than a million people in the year 2020. More than 85% of the food and beverage ingredients are imported. Turkey attracted around 16 million foreign visitors in the year 2020, whose spending contributed around 23% of the total expenditure on F&B activities for the year.

Restaurants contribute around 10% to the total market size of the F&B industry in Turkey, and the industry itself is expected to witness a CAGR of 11% from the year 2020 to the year 2025.

Demographics of Istanbul

Around 18.5% of the population of the population of Turkey lives in Istanbul, and around 39.3% of the foreigners who visit Turkey land in Istanbul. Istanbul also contributes close to 39% alone to the Turkish restaurant industry. 97% of the households in Istanbul have access to internet services, and the average monthly household income in Istanbul is around TL 7,613, or about 550 US Dollars.

Istanbul is a preferred destination for foreign visitors from Western Asia and Europe due to its location advantages, with Germany being the leading country with 7.5% share of the total foreign visitor arrivals. This is followed by Iran, Russia, Iraq, France, UK, USA, KSA, China and Kuwait. The European side of the city is the most preferred tourist spot, with >85% of the foreign visitors in Istanbul.

Categories of Restaurants

Quick Service Restaurants (QSRs) leads the restaurant categories basis end-user spend. It also has the highest number of outlets in comparison to any other category in Istanbul and also fetches higher weekly footfalls. It has been observed the Franchise model is the preferred type of expansion which is being carried out across QSRs, Casual Dining Restaurants and Coffee-Shop categories.

The occasional nature of demand across categories such as desert parlors, cuisine-specific restaurants and nightclubs leads to them contributing less to the end-user spend in the F&B industry, collectively.

Evaluation of Districts in Istanbul

While Esenyurt is the most populated district in Istanbul, with a population of around 954,600 people, Fatih witnesses the highest foreign visitor count, followed by Beyoğlu and Şişli; lending such districts a key avenue for restaurants business.

Restaurant Industry in Istanbul Future Outlook and Projections

The Restaurant Industry in Istanbul is anticipated to grow with improvement in macroeconomic indicators coupled with a rebound in tourism activity. Over the forecast period FY’21-FY’25, the Restaurant Industry in Istanbul is further anticipated to showcase an upward trend in terms of end-user spend, which will in turn also drive the market size of the F&B industry in Turkey upwards, over the next 5 years. For the next 5 years, Franchise driven expansion is set to shape the outlook of restaurants industry with QSRs, Casual and Fine dining categories dominating end-user spends in Istanbul.

Key Segments Covered in Restaurant Industry in Istanbul

Market Size of Restaurant Industry in Turkey on the basis of transaction value
Market Size of Restaurant Industry in Istanbul on the basis of transaction value
Segmentation by type of visitor
- Domestic visitor
- Foreign visitor

Key Target Audience

Restaurants and Hotel Chains
Food Aggregators
Catering Companies
Real Estate Companies
Potential Market Entrants

Time Period Captured in the Report:

Historical Period: 2015-2021
Forecast Period: 2021-2025F

Companies Covered:

Quick Service Restaurants:
- McDonald’s
- Burger King
- Sbarro Pizzeria
- KFC
- Popeye’s
- Simit Sarayi
- Karafirin
- Panista
- Pasa Doner
- Usta Donerci

Casual Dining Restaurants:
- Big Chef’s
- Midpoint
- Happy Moon’s
- Sazeli
- Gunaydin
- Cookshop
- Mado
- Emirgan Sutis
- Ozsut
- Kofteci Ramiz

Fine Dining Restaurants:
- Zuma
- Paper Moon
- Nusr-et
- Da Mario
- Nobu
- Vogue
- Spago
- 360
- Sunset Bar & Grill
- Lacivert

Hotel based Restaurants:
- 16 Roof, Swissotel
- Mikla
- Spago
- Tugra
- Shang Palace
- Toro
- Novikov

Shisha Lounges:
- Huqqa
- PS Lounga
- Ajjna
- Lulu
- Ali Baba Nargile
- Azure the Bosphorous

Middle Eastern Cuisine Restaurants:
- Tahin
- Hatay Medeniyetler Sofrası
- Buuzecedi
- Arada Beyrut Cafe
- Al Hallab
- Arada Endulus
- Nomads

Nightclubs:
- Sorite
- 360
- Klein
- Ulus 29
- Oligark
- Masquarade

Coffee Shops:
- Espresso Lab
- Viyana Kahvesi
- Petra
- Kronotrop
- Kahve Dunyasi
- Cup of Joy
- Coffee Department
- Ministry of Coffee
- Walter’s Coffee
- Coffeetopia

Patisserie and Desert Parlours:
- Vakko
- Baylan
- Mendel’s
- Maia
- Divan
- Pelit
- Asuman

Key Topics Covered in the Report

Socio-Demographic Outlook of Turkey
Economic Outlook of Turkey
Overview of F&B Industry in Turkey
Snapshot on Online Food Delivery Platforms in Turkey
Market Size of Restaurant Industry in Turkey
Socio-Demographic Outlook of Istanbul
Foreign Tourist Arrival in Istanbul
Major District Clusters in Istanbul
Market Size of Restaurant Industry in Istanbul
District Analysis of Istanbul in terms of Location, Ecosystem and Business Operations
Analysis of Categories of Restaurant in terms of Operating Parameters
Analysis of Quick Service Restaurants
Analysis of Casual Dining Restaurants
Analysis of Fine Dining Restaurants
Analysis of Hotel Based Restaurants
Analysis of Shisha Lounges
Analysis of Cuisine Specific Restaurants
Analysis of Nightclubs
Analysis of Coffeeshops
Analysis of Patisserie and Desert Parlours
Business Environment in Turkey
Impact of COVID-19 on Restaurant Industry
Future Outlook of the Industry

Products

Key Segments Covered in Restaurant Industry in Istanbul

Market Size of Restaurant Industry in Turkey on the basis of transaction value
Market Size of Restaurant Industry in Istanbul on the basis of transaction value
Segmentation by type of visitor
- Domestic visitor
- Foreign visitor

Key Target Audience

Restaurants and Hotel Chains
Food Aggregators
Catering Companies
Real Estate Companies
Potential Market Entrants

Time Period Captured in the Report:

Historical Period: 2015-2021
Forecast Period: 2021-2025F

Companies

Companies Covered:

Quick Service Restaurants:
- McDonald’s
- Burger King
- Sbarro Pizzeria
- KFC
- Popeye’s
- Simit Sarayi
- Karafirin
- Panista
- Pasa Doner
- Usta Donerci

Casual Dining Restaurants:
- Big Chef’s
- Midpoint
- Happy Moon’s
- Sazeli
- Gunaydin
- Cookshop
- Mado
- Emirgan Sutis
- Ozsut
- Kofteci Ramiz

Fine Dining Restaurants:
- Zuma
- Paper Moon
- Nusr-et
- Da Mario
- Nobu
- Vogue
- Spago
- 360
- Sunset Bar & Grill
- Lacivert

Hotel based Restaurants:
- 16 Roof, Swissotel
- Mikla
- Spago
- Tugra
- Shang Palace
- Toro
- Novikov

Shisha Lounges:
- Huqqa
- PS Lounga
- Ajjna
- Lulu
- Ali Baba Nargile
- Azure the Bosphorous

Middle Eastern Cuisine Restaurants:
- Tahin
- Hatay Medeniyetler Sofrası
- Buuzecedi
- Arada Beyrut Cafe
- Al Hallab
- Arada Endulus
- Nomads

Nightclubs:
- Sorite
- 360
- Klein
- Ulus 29
- Oligark
- Masquarade

Coffee Shops:
- Espresso Lab
- Viyana Kahvesi
- Petra
- Kronotrop
- Kahve Dunyasi
- Cup of Joy
- Coffee Department
- Ministry of Coffee
- Walter’s Coffee
- Coffeetopia

Patisserie and Desert Parlours:
- Vakko
- Baylan
- Mendel’s
- Maia
- Divan
- Pelit
- Asuman

1. Executive Summary

2. Socio-Demographic and Economic Outlook of Turkey
2.1. Socio-Demographic Indicators of Turkey
2.2. Trends of High Internal Migration and domestic tourism
2.3. Economic Analysis of Turkey
2.4. Economic Outlook of Turkey (2020, 2025, 2030)

3. Overview of F&B Industry in Turkey
3.1. Industry Ecosystem
3.2. Market size and Trends in F&B Industry of Turkey
3.3. Import-Export Scenario of F&B Industry
3.4. Import-Export Scenario of Top F&B Commodities

4. Snapshot on Online Food Delivery Platforms in Turkey
4.1. Overview and Market Size of Online Food Delivery Platforms in Turkey
4.2. Company Profiles of Major players (Yemeksepeti, Getir Yemek, Fuudy, Tikla Gelsin)

5. Overview of Restaurants Industry in Turkey
5.1. Market size of Restaurants Industry and HORECA Ecosystem, 2016-2021
5.2. Challenges and Turnaround Measures of Industry
5.3. Province wise Population, Arrival of Foreign Visitors and Contribution to Restaurants Industry in Turkey, 2021

6. Istanbul – Largest City in Turkey – Home to 15 mn+ People
6.1. Socio-Demographic Outlook of Istanbul – Domestic Population
6.2. Other Customer Cohorts in Istanbul
6.3. Foreign Tourists and Country of Origin in Istanbul
6.4. Location advantage of Istanbul
6.5. Major district clusters of customers
6.6. Supply Side Indicators and Market size of Restaurants Industry in Istanbul, 2016-2021

7. District Analysis of Istanbul
7.1. Top 10 Districts with Population, Population Density, Foreign Visitors
7.2. Comparison of Top 10 districts on Customer Cohort Indicators (Domestic Demographics and Foreign Tourist Arrival)
7.3. Comparison of Top 10 districts on Location, Ecosystem Supportiveness & Business Opex

8. Analysis of Categories of Restaurants in Istanbul
8.1. Competing Parameters and Key Findings from categories of restaurants on the basis of operational parameters
8.2. Segmentation Insights of Franchise and Non-Franchise Outlets

9. Analysis of Quick Service Restaurants
9.1. Sample Composition of Study and Key Neighborhood Areas
9.2. Cross-Comparison basis Business and HR related parameters
9.3. Cross-Comparison basis Operational and Financial Parameters
9.4. Cross-Comparison basis analysis of Key Operational Metrics
9.5. Case Study and Field Visit Insights of Usta Donerci

10. Analysis of Casual Dining Restaurants
10.1. Sample Composition of Study and Key Neighborhood Areas
10.2. Cross-Comparison basis Business and HR related parameters
10.3. Cross-Comparison basis Operational and Financial Parameters
10.4. Cross-Comparison basis analysis of Key Operational Metrics
10.5. Case Study and Field Visit Insights of Sazeli (Florya)

11. Analysis of Fine Dining Restaurants
11.1. Sample Composition of Study and Key Neighborhood Areas
11.2. Cross-Comparison basis Business and HR related parameters
11.3. Cross-Comparison basis Operational and Financial Parameters
11.4. Cross-Comparison basis analysis of Key Operational Metrics
11.5. Case Study and Field Visit Insights of Zuma Restaurants

12. Analysis of Hotel-Based Restaurants
12.1. Sample Composition of Study and Key Neighborhood Areas
12.2. Cross-Comparison basis Business and HR related parameters
12.3. Cross-Comparison basis Operational and Financial Parameters
12.4. Cross-Comparison basis analysis of Key Operational Metrics

13. Analysis of Shisha Lounges
13.1. Sample Composition of Study and Key Neighborhood Areas
13.2. Cross-Comparison basis Business and HR related parameters
13.3. Cross-Comparison basis Operational and Financial Parameters
13.4. Cross-Comparison basis analysis of Key Operational Metrics
13.5. Case Study and Field Visit Insights of Ajjna Lounge

14. Analysis of Cuisine Specific Restaurants
14.1. Cross-Comparison basis Business and HR related parameters
14.2. Cross-Comparison basis Operational and Financial Parameters

15. Analysis of Nightclubs
15.1. Cross-Comparison basis Business and HR related parameters
15.2. Cross-Comparison basis Operational and Financial Parameters

16. Analysis of Coffee Shops
16.1. Sample Composition of Study and Key Neighborhood Areas
16.2. Cross-Comparison basis Business and HR related parameters
16.3. Cross-Comparison basis Operational and Financial Parameters
16.4. Cross-Comparison basis analysis of Key Operational Metrics
16.5. Case Study and Field Visit Insights of Walter’s Coffee and Espresso Lab

17. Analysis of Patisserie and Dessert Parlours
17.1. Sample Composition of Study and Key Neighborhood Areas
17.2. Cross-Comparison basis Business and HR related parameters
17.3. Cross-Comparison basis Operational and Financial Parameters
17.4. Cross-Comparison basis analysis of Key Operational Metrics
17.5. Case Study and Field Visit Insights of Baylan

18. Business Environment in Turkey
18.1. Ease of Doing Business Findings
18.2. Process to start restaurant business in Turkey
18.3. Direct, Indirect taxation and corporate factors
18.4. Commonly Followed Malpractices in Restaurants Industry of Istanbul

19. Impact of COVID-19 on Restaurants Industry
19.1. COVID-19 cases and Corresponding Arrival of Foreign Visitors
19.2. Type of Restrictions on Restaurants and Tourists
19.3. Live examples of multiple restaurants – Impact of COVID-19
19.4. Assessment of Overall Impact

20. Future Outlook of Industry
20.1. Future Outlook of Restaurants Industry in Istanbul and F&B Industry in Turkey, 2025E
20.2. Future Plans of select restaurants and Industry Trends
20.3. Future Outlook and Industry Segmentation, 2025E

21. Analyst Recommendations
21.1. Analysis of Top 10 Districts and Key Recommended Neighborhoods
21.2. Neighborhood Analysis – Besiktas, Beyoglu, Fatih, Sariyer, Sisli
21.3. Must Have’s and Marketing Strategies
21.4. Risk Factors governing Restaurants Industry

22. Appendix

23. Research Methodology

24. Disclaimer

25. Contact us

You can also purchase parts of this report. Do you want to check out a section wise price list?

Get Price Break-up

Thank You for submiting the form our team will reach you withing next 24 hours.

Name:

Email:

Mobile No.

Message:

Captcha:

Why Buy From US?

Refine Robust Result (RRR) Framework

What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story

Our Reach Is Unmatched

We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.

Shifting the Research Paradigm

While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.

More Insights-Better Decisions

With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.

Transparency and Trust

Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.