Latin America Foodservice Registered 11% Value Growth in 2011, Says Euromonitor International
13 Nov 2012 • by Natalie Aster
As the fastest growing foodservice region, Latin America is poised to offer significant long-term opportunities. In Brazil, fast food and cafes/bars are taking centre stage as demand grows for convenient foodservice and consumers adapt to an evolving coffee shop culture. The other major markets of Mexico, Argentina, Colombia and Venezuela also offer opportunities, including growth in chained full-service restaurants, expansion into retail locations and increased demand for takeaway/delivery.
According to the report “Latin America Foodservice: Evolving Opportunities in a Major Growth Market” by Euromonitor International, with 11% value growth in 2011, Latin America was the fastest growing foodservice region in the world, a fact that has certainly caught the attention of global operators.
Latin America Foodservice: Evolving Opportunities in a Major Growth Market
Published: October, 2012
Price: US$ 2.000,00
Brazil is forecast to see the third largest absolute growth in chained consumer foodservice in the world over 2011-2016, at just over US$6 billion. US$4.5 billion of that growth will be in chained fast food.
Despite its large group of increasingly affluent urban consumers, Brazil ranks 25th in per capita spending on foodservice with US$781. Similarly, Argentina and Mexico posted 2011 per capita spending of only around US$500, evidence of the growth potential in these markets.
Retail locations in Latin America grew faster than any other type in both outlets and value in 2011, posting increases of 7% and 15%, respectively. Rapid growth in shopping malls in the region’s more affluent areas is creating lucrative expansion opportunities for foodservice outlets.
More information can be found in the report “Latin America Foodservice: Evolving Opportunities in a Major Growth Market” by Euromonitor International.
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