Market Size of turkey foodservice Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 13.88 Billion |
|
|
Market Size (2029) | USD 24.10 Billion |
|
Largest Share by Foodservice Type | Quick Service Restaurants |
|
|
CAGR (2024 - 2029) | 11.66 % |
|
|
Fastest Growing by Foodservice Type | Cloud Kitchen |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Turkey Foodservice Market Analysis
The Turkey Foodservice Market size is estimated at 13.88 billion USD in 2024, and is expected to reach 24.10 billion USD by 2029, growing at a CAGR of 11.66% during the forecast period (2024-2029).
13.88 Billion
Market Size in 2024 (USD)
24.10 Billion
Market Size in 2029 (USD)
-0.02 %
CAGR (2017-2023)
11.66 %
CAGR (2024-2029)
Largest Segment by Foodservice Type
58.43 %
value share, Quick Service Restaurants, 2023
The increasing consumption of traditional bakeries and meat-based products makes quick service restaurants the major segment in the overall market.
Largest Segment by Outlet Type
73.71 %
value share, Independent Outlets, 2023
Numerous tourists are drawn toward the country's vintage-themed coffee shops to experience the ambiance and Turkish beverages, providing independent outlets with a major market share.
Fastest-growing segment by Foodservice Type
15.15 %
Projected CAGR, Cloud Kitchen, 2024-2029
The promise of 100% home delivery and technological advancements like kitchen display systems handling high order volumes have led to an increasing number of virtual kitchens.
Fastest-growing segment by Outlet Type
11.77 %
Projected CAGR, Independent Outlets, 2024-2029
Higher penetration of Turkish coffee and tea stores, along with the expansion of global fast food chains, has been boosting the market's growth over the past few years.
Leading Market Player
1.96 %
market share, Kofteci Ramiz, 2022
It is the largest key player in the market, offering a wide range of meat offerings with a retail store concept, as 80% of its outlets are located in shopping malls.
Increasing affinity toward meat-based fast food and the expansion of franchise outlets are propelling the growth of QSRs.
- By segment, quick service restaurants (QSRs) held the largest share of the overall market in 2022. The sub-segment is anticipated to register a CAGR of 8.46% from 2023 to 2029. This is due to the popularity of convenience food, which can be provided within a limited time. The young Turks prefer chicken wings, hamburgers, wraps, pizzas, and meat-based products. For instance, in 2022, 75.2% of young people preferred hamburgers, followed by wraps and pizzas at 30.7% and 21.1%, respectively. Operators are employing franchise networks to expand their business across the nation rather than building company-operated outlets as it is cost-effective.
- Cafes & bars comprise the second-largest sub-segment in the market. It grew significantly in 2022 due to improved economic indicators and a resurgence in tourism. Most Europeans visit Turkey to cherish the traditional food and Turkish specialty tea and coffee, as those are well-known across the world. With the influx of European travelers, Turkey's tourism numbers rebounded as of 2023. In particular, 12.25% of visitors from Russia, 9.12% from Bulgaria, and 8.13% from Germany were anticipated to help Turkey's tourist numbers reach their peak in 2022.
- In the full service restaurant sub-segment, Middle Eastern restaurants dominated the market in 2022. A majority of the Turks are comprised of Iranians and Arabians. Thus, cuisines like Kurdish, Egyptian, and Arabian are popular in the region. Foods like shawarma, kebab, falafel, biriyani, dolma, and berbesel are widely consumed in Turkey. Arabic restaurants like Mahmiye, Green Garden, and Ziyafet Kuzu Cevirme employ typical Turkish local ingredients to make food more reminiscent of Turkish cuisine. Thus, the market studied is expected to register a CAGR of 12.55% during the forecast period.
Understand The Key Trends Shaping This Market
