In 2023, Italy led the European market share for young high growth enterprises (gazelles) in the restaurant and mobile food service sector, contributing 33.1% of the total, followed by Hungary with 21.77% and Portugal at 19.52%. Romania and the Czech Republic also featured prominently, albeit with smaller shares. The year-on-year growth from 2023 indicates significant increases across most countries, particularly in Italy and Hungary, with Latvia experiencing the highest surge at nearly 32%. The data suggest strong momentum within these markets, especially developing Eastern European countries.
Looking towards the future, the industry could see further growth driven by innovative dining experiences, sustainability trends, and an increasing consumer preference for diversified cuisine. Keeping an eye on digital transformation and consumer behavior shifts due to economic factors will be crucial for sustained growth in the European gazelle market.
- Italy: Leading the market with a notable share and high growth rate.
- Hungary: Significant growth, indicating a strengthening market presence.
- Portugal: Consistently robust performance.
- Latvia: Exceptional year-on-year growth, suggesting potential for further expansion.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Restaurants and Mobile Food Service Activities Share by Country (Units (Enterprises))
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 33.1 | 2023 | +42.64% | +25.54% | View data |
| 2 | 2 Hungary | 21.77 | 2023 | +25.39% | +25.09% | View data |
| 3 | 3 Portugal | 19.52 | 2023 | +30.72% | +13.74% | View data |
| 4 | 4 Romania | 9.71 | 2023 | +30.12% | +10.35% | View data |
| 5 | 5 Czech Republic | 7.47 | 2023 | +27.69% | +6.35% | View data |
| 6 | 6 Lithuania | 6.03 | 2023 | +21.82% | +2.58% | View data |
| 7 | 7 Slovakia | 1.62 | 2023 | +20% | +5.15% | View data |
| 8 | 8 Latvia | 1.08 | 2023 | +20% | +31.95% | View data |
| 9 | 9 Norway | 0.54 | 2023 | +50% | +24.57% | View data |
| 10 | 10 Iceland | 0.54 | 2023 | +20% | +4.66% | View data |
