Italian cuisine continues to be a fundamental component of global cultural identity and taste, with a market value of €253 billion and a 19% share of the global table-service restaurant market. This is according to Deloitte's most recent assessment on the foodservice sector, which places Italy sixth globally with a local market worth €84 billion. Italian cuisine continues to draw foreign consumers and investors due to the distinct ritual of hospitality and conviviality, which has historically been centred on classic trattorias, osterias, and pizzerias. In Italy, full-service restaurants still account for 50% of total value, and chain penetration is only 11% (compared to the global average of 35%), indicating a gastronomic history firmly protected by family-run companies and independent locations. However, the Italian restaurant business is gradually changing: scalable formats and fast service restaurants are rapidly expanding, attracting the attention of international investors. Italian cuisine remains the most appealing in M&A transactions, with almost four out of every ten transactions involving Italian restaurant concepts, led above all by the iconic pizzeria.