The restaurant market in milan - Italy (2023)

1.2 The global restaurant market

The global foodservice market has shown signs of growth and recovery recently. In ****, the global foodservice market reached a total value of *,*** billion euros, a growth of ** percent over ****. The Asia Pacific region accounted for ** percent of the market, while Europe was the fastest-growing region in the ****-**** period, with a **.* percent increase.[***]

Geographic distribution of the foodservice market World, ****, % Deloitte

In ****, the market continued to expand, reaching a value of *.* trillion euros. The forecast for the annual growth rate during ****-**** is *.* percent.[***]

Restaurant market value World, ****-****, in billion € Deloitte

Asia-Pacific (***) with a rate of *.* percent. On the other hand, Europe and North America have more modest growth rates of *.* percent and *.* percent, respectively.

Annual growth of the restaurant market by region World, ****-****, % Deloitte

1.3 The Italian market

Number of enterprises:

As of December ****, there were ***,*** active businesses in the restaurant industry in Italy. During the year, *,*** businesses started operations, while **,*** stopped operations, leading to a negative balance of -**,***. During the fourth quarter of ****, confidence in the industry rose to ***.*, registering a **-point increase over the same period in ****. The annual average marked ***.*, which is **.* points higher than the **** average.[***]

Data on the number of serving restaurants in Italy show an upward trend over the years, except for a slight decline in **** and ****. In ****, there were **.** thousand restaurants, number increased to ***.** thousand in ****. Thus, the percentage difference over the decade is +**.**%.

Number of restaurants with serving Italy, ****-****, in thousands Istat

Considering instead restaurants and mobile food service activities, the number is ***,*** in ****. Again we observe an increase in recent years.

Number of restaurants and mobile food service activities Italy, ****-****, in thousands Istat

Turnover:

In the fourth quarter of ****, the crude index of restaurant business turnover increased by **.*% compared to the same period of the previous year. The year ends with a **.*% increase over ****.[***]

Restaurant services turnover Italy, ****-****, percentage changes over the same corresponding period Confcommercio Demand: Despite the worsening macroeconomic environment in ****, the out-of-home consumption ...

1.4 The market in Milan

Of the more than *** thousand restaurants and mobile food service businesses in Italy, *,*** (***).[***] Assuming a similar share in ****, we can go on to estimate the value of the restaurant market in Milan for this year.

New openings and closures in Milan in **** indicate a vibrant but also challenging restaurant scene, the most recent ones include:

New Openings:[***]

Innocenti Evasioni by Tommaso Arrigoni: Moving to a new location in ****, celebrating the restaurant's **th anniversary Casa Baglioni and Sadler restaurant: New location in Brera from Jan. **, ****, with the *-Michelin-starred restaurant signed by chef Claudio Sadler Viviana Varese's new concept: New project in the Via Valtellina - Farini area, with a large space that will include bistro and café Portrait Milano's fine dining restaurant: New fine dining restaurant planned to open in late winter, under the leadership of chef Alberto Quadrio Harmonic: New gourmet sushi restaurant (***) in Milan Canaglia: New restaurant with a menu that includes cheese selections, cupcakes, pan brioche, cocktails, wines and beers Autem: Fine dining restaurant where chef Luca Natalini offers a constantly evolving menu Verso: A project led by chef brothers Remo and Mario Capitaneo, located in the Duomo

Closures:[***]

Filippo La Mantia's restaurant at Milan's Mercato Centrale: Closed due ...

2.1 Demographic characteristics of Milan

Demographic indicators (***):

The bar graph shows the population distribution by age group in the Milan metropolitan area in ****. The population peak is observed in the **-** age group with ***,*** individuals, with a gradual decline in the upper age groups.

Population by age group Milan metropolitan area, ****, in numbers Businesscoot elaboration on Istat data

Focusing only on the central area of the city, bounded by the city limits, we note a similar distribution, with a peak of ***,*** people in the **-** age group.

Population by age group Milan city, ****, in numbers Businesscoot elaboration on Istat data

Average income by amount class (***): Average income, again within the municipality, shows a distribution with the majority of citizens concentrated in the middle income brackets. The largest class is those with incomes between **,*** and **,*** euros, accounting for ** percent of the population. This is followed by the lowest income bracket, from * to **,*** euros, comprising ** percent of people. The **,*** to **,*** euros bracket accommodates ** percent of the population, ranking close to the lower bracket in size. In contrast, the highest income brackets (***) comprise a smaller portion, with ** percent overall.

Income class Number of people % * - **.*** ***.*** **% **.*** - **.*** ***.*** **% **.*** - **.*** ***.*** **% **.*** - **.*** ***.*** **% **.*** - **.*** **.*** *% **.*** - ***.*** **.*** *% ***.*** and more **.*** *%

Unemployment:

Analyzing unemployment data, there is an ...

2.2 tourism

Italy:

According to the Bank of Italy's survey of international tourism, spending by foreign travelers in Italy more than doubled in **** compared to the previous year, returning to close to pre-pandemic levels; in real terms, however, it is still nearly ** percent lower. Spending by Italian travelers abroad grew by a similar amount; this resulted in a substantial widening of the surplus in the tourism balance of payments, which returned to its **** level (***). Against a backdrop of recovery in international tourism globally, with the exception of Asian countries where restrictions on movement persisted through most of ****, Italy's market share grew significantly, from *.* to *.* percent.

Spending by foreign travelers in Italy by geographic macro-area of origin Italy, ****, % Bank of Italy

Attendance in accommodation establishments in Milan showed a sharp increase from the period April **** to December ****. Starting from ***.** thousand in ****-**, the number grew to ****.** thousand in ****-**, a growth of ***.**%.Analyzing the data, a substantial increase emerges during the summer of ****, reaching a peak in September. After that period, the numbers fluctuated slightly but remained high, with new peaks in the summer of ****.The increase in attendance was influenced by factors such as the opening of post-pandemic restrictions and the increase in ...

2.3 Web analysis: Milan residents' interest in restaurants

General interest:

Analysis of Google Trends data shows some seasonality in the interest for the search "Milan restaurants." Interest seems to peak in the winter and spring months, with a slight decline during the summer, and then rises again in the fall. However, since June **** there has been a decreasing trend, reaching its lowest point in August **** with an index of **.*. Despite this summer decline, interest picks up in the fall, indicating a recovery in public activity and interest.

Research interest in "Milan restaurants" Lombardy, ****-****, index Google trends

Most searched associated queries in Milan:

Analysis of search terms associated with restaurants in Milan reflects a variety of culinary preferences. The most searched types of cuisine are seafood and pizza. Interest in Chinese, Japanese, and traditional Milanese cuisine is also noted.

Search terms associated with the most searched restaurants Milan, ****, index Google trends The numbers represent search interest relative to the highest point on the graph in relation to the region and period indicated. A value of *** indicates the highest search frequency of the term, ** indicates half of the searches. A score of *, on the other hand, indicates that not enough data were found for the term.

3.1 The market structure

To analyze the structure of the restaurant market in Milan, structural data of the industry in the metropolitan area of Milan are considered. In particular, the following are analyzed:

The trend in the number of businesses over the past * years The trend in the number of employees over the past * years The legal form of the various companies in the last year for which data are available

Enterprises:

The data show a general upward trend in the number of restaurants and mobile food service businesses in Milan from **** to ****, peaking in ****. After a steady increase between **** and ****, with the number rising from *,*** to *,***, there is a slight contraction in **** due to the challenges posed by the COVID-** pandemic. However, in ****, the number of restaurants and mobile food service businesses rises slightly to *,***. Overall, between **** and ****, there was a growth of *.** percent.

Number of restaurants and mobile food service activities Milan, ****-****, in number Istat

Employees:

We also record a similar trend for the number of employees as for the number of businesses, the percentage change between **** and **** is *.** percent, suggesting a slight fragmentation of the sector, with restaurants of slightly smaller average size.

Number of employees in restaurants and mobile food ...

3.2 The delivery

food delivery in Italy is steadily increasing, as evidenced by data on B*C eCommerce purchases in the Food&Grocery sector from **** to ****. Starting from a base of €*** million in ****, we have seen steady and exponential growth year after year, reaching an impressive figure of €**** million in ****. The most significant jump occurred between **** and ****, a period during which purchases almost doubled from €**** million to €**** million due to the pandemic. Even as restrictions ease, growth continues from **** to ****, albeit at a slightly more moderate pace.

B*c eCommerce purchases in Food&Grocery Italy, ****-****, in millions of € Justeat

To analyze the teritory of Milan, we study the composition of the offer of the Deliveroo application in the territory.

The distribution of restaurants on Deliveroo in Milan shows a predominance of Italian cuisine, accounting for **% of the total. This is followed by Japanese and Chinese cuisines with **% and **%, respectively.The graph takes into account restaurants that can be reached from the city center.

Distribution of Deliveroo restaurants by type Milan, ****, % Deliveroo

3.3 The geographical distribution of restaurants

The geographical distribution of restaurants in Milan reflects the cultural and demographic diversity of the city, as well as the variety of tastes and culinary preferences of its inhabitants and visitors. At the top positions we find:[***]

Zone *, which includes central districts such as Cordusio, Brera, and Sant'Ambrogio, appears to have the highest concentration of restaurants with **** establishments. Zone *, with *** restaurants, includes neighborhoods such as Città Studi, Lambrate, and Porta Venezia, which are well known for their diverse culinary offerings and for being popular meeting points among residents and college students. Zone *, with *** restaurants, includes neighborhoods such as Tre Torri, Trenno, Gallaratese - San Leonardo - Lampugnano, QT*, Lotto-Fiera, Maggiore- Musocco -Certosa, and Parco Bosco in the city. This zone, being quite large and varied, offers a diverse range of culinary options, also reflecting the demographic diversity of the area. Finally, zone *, with *** restaurants, includes neighborhoods such as Comasina, Affori, Porta Nuova, Niguarda, Bovisa and Fulvio Testi. This zone, like zone *, has a variety of neighborhoods with different demographic and cultural characteristics that may influence the type of restaurants present.

4.1 The main Milanese restaurants

Tripadvisor ranking:

Starred restaurants:

Other popular restaurants:

4.2 The prices

The Consumer Price Index (***) for restaurant services in Milan showed an increasing trend from **** to ****. The most significant increase occurred between **** and ****, with the index rising from ***.* to ***.*. This trend indicates an increase in prices in the restaurant sector, reflecting the economic impact of the COVID-** pandemic, the Russia-Ukraine conflict, and rising general inflation.

Annual consumer price index for food services Milan, ****-****, index ****=*** Istat More specifically, over the past two years, starting from an index of ***.* in September ****, there is a gradual increase to reach ***.* in September ****. This indicates that there has been a cumulative inflation of **.*%.

Consumer price index for food services Milan, ****-****, index ***=**** Istat

5.1 Legislation

The main laws regulating catering in Milan are:

Legislative Decree No. ** of March **, ****: which implements Directive ****/***/EC on services in the internal market, regulating the access to and exercise of service activities, including catering activities.

Regional Law of February **, **** No. *: of Lombardy, concerns the moral and professional requirements for the exercise of food and beverage service activities.

Ministerial Decree Dec. **, **** No. ***.: which establishes supervisability requirements for premises used as public establishments, including restaurants.

Specifically, in order to open a restaurant, the following requirements must be met:

Subjective Requirements: Moral and professional requirements must be met as stipulated in Article ** of Legislative Decree No. ** of March **, **** and Regional Law No. * of February **, ****. Objective Requirements: The premises must comply with the zoning destinations and technical and sanitation requirements stipulated by law. In addition, they must meet the supervisability requirements established by Ministerial Decree No. *** of December **, ****. Submission of Application: To start, modify or transfer a food and beverage business, it is necessary to send a Certified Declaration of Start of Business (***) of the City of Milan through the national platform "Impresainungiorno.gov.it."

Other important laws include:

Regional Law February *, **** No. *: Consolidated text of regional laws on trade and fairs. Regional Council Resolution ...

6.1 Segmentation

The following are the main fast food and restaurants chains based in Milan:

Fast food:

Restaurants:

• Euroristoro S.r.l.
• Kellideli S.r.l.
• US Food Network S.r.l.
• Original Bucket S.r.l.
• Poke House S.r.l.
• Pizzium
• Goodeat Italia S.p.a.
• Panino Giusto S.p.a.
• Temakinho S.p.a.