The poké shops market - Italy

The global poké market has experienced substantial growth, with an estimated increase of US$781.91 million between 2021 to 2026, growing at a CAGR of 8.41%. In Italy, where poké was popularized by the opening of "I Love Pokè" in Milan, the market has seen even more remarkable growth. In 2020, despite the pandemic, poké became the eighth most-ordered food for home delivery, with a staggering 133% growth over the previous year. This growth is accompanied by the expansion into smaller cities, beyond the initial spread in larger urban areas. The country also recorded strong import growth in ingredients commonly used in poké bowls, which increased by 51.38% from 2018-2022. However, the recent economic strains, including the war in Ukraine and rising inflation that saw consumer prices increase by 19.3%, may impact consumers' purchasing power, potentially affecting the sector's dynamics from 2020 onwards.

Exploring the Rising Tide of Poke Popularity in Italy

In recent years, Italy has seen a remarkable upsurge in the popularity of poke, a versatile Hawaiian dish famous for combining rice, raw fish, and assorted seasonings. The poke trend has particularly resonated with the Italian populace who value healthy meal options without sacrificing taste. The poke market in Italy is in a phase of rapid expansion with remarkable growth rates, outpacing the global average. Looking at the period between 2022 and 2026, the Italian poke market is expected to grow at an impressive Compound Annual Growth Rate (CAGR) of about 20 percent, potentially reaching a market value of over €680 million. It's noteworthy that, despite the pandemic's challenges, poke's appeal has continued to grow, especially among the younger demographic. This can be attributed to poke's adaptability to home delivery services, which aligns with the increasing consumer preference for convenience and customization in food choices. Consequently, online platforms have seen a rise in poke orders, establishing the cuisine as one of the top five most popular on delivery services like Just Eat.

The proliferation of poke shops in Italy is also indicative of the cuisine's burgeoning demand. As of 2022, Italy boasted more than 800 poke outlets, a substantial increase from the previous year. With investment rounds fueling expansions, major chains like Poke House, I Love Poke, and Macha Poke have established significant presence in larger cities and are gradually expanding into smaller towns and regional capitals. Moreover, the movement towards plant-based diets and sustainable consumer habits is shaping a favorable consumer attitude towards health-centric foods like poke. The interaction of these dynamics positions poke as a culinary and commercial phenomenon, shaping not only Italians' dining habits but also influencing the nation’s economic landscape in the food sector. With continued investments and an adaptive business model, the poke market in Italy seems poised for continued growth and deeper market penetration in the years to come.

Key Players Shaping the Italian Poké Restaurant Scene

The poké market in Italy has seen a significant boom, with several key players driving its success by establishing chains and spreading the Hawaiian-inspired cuisine across the country. Here are some of the prominent names that are dominating the Italian poké scene:

• Poké House: A standout in the industry, Poké House made its debut in 2018 and has since then secured a dominant position, particularly in Milan, where it enjoys a 16% market share. This success can be attributed to the substantial capital investment of approximately €25 million, which has funded their aggressive expansion strategy. With 113 outlets, 56 located within Italy and 57 abroad, Poké House has established a strong franchise model to broaden its reach.
• I Love Poké: This brand is the brainchild of Michael Lewis and Rana Edwards. Founded in 2016, I Love Poké swiftly rose to popularity, amassing a total of 120 stores exclusively in Italy. Their ability to generate €14 million through a series A funding round has played a central role in sustaining their growth, making them a key player with a 13% market share in Milan and a 7% share in Turin.
• Macha Poké: Pioneering the movement since 2014, Macha Poké prides itself on a network of 31 stores, all located within Italy. It holds a respectable 6% share of the Milanese market and has become synonymous with the poké dining experience for many locals.
• Pokeria by Nima: Launching in 2016, this brand has opened 27 stores to date. It competes strongly in the poké market, with a 6% share in Milan and leading with a 9% stake in Rome. Unlike other chains, Pokeria by Nima does not operate on a franchising model, choosing instead to maintain full control over its outlets.
• Pokescuse: Breaking ground as the first poké house in the Veneto region, Pokescuse gained momentum thanks to a seed investment of €500,000 in January 2022. While the investment may seem modest compared to other players, it signifies investor confidence in the poké concept and its potential for growth.
• Waikiki Poké: Operating under the umbrella of Feed Good srl, Waikiki Poké has made an impressive impact since its inception in 2017 with a solid footprint of 25 stores.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 14/09/2023

Summary and extracts

List of charts

• Value of the poke food market
• Popularity of the search "Poké"
• Poké market value
• Trade flows of the basket of ingredients most used in Poké
• Consumer price index for the whole community
• Consumer price index for the whole community for food and non-alcoholic beverages
• Average monthly household expenditure on food services
• Average monthly household spending on fast food services
• Number of restaurants
• Legal form of restaurants
• Poke store type