Consumer foodservice in Latin America has been on a clear recovery path since 2021, after the major losses COVID-19 inflicted on it in 2020. However, high inflation is negatively impacting consumers’ purchasing power and therefore also the pace of the recovery. Chained players performed better at the height of the pandemic, thanks to their financial backing and an ability to swiftly adapt to changing conditions. However, independent establishments continue to dominate the industry in the region.
This report comes in PPT.
Consumer foodservice continues to recover from the sales lost in 2020 due to home seclusion and forced closures or eat-in bans in this industry due to COVID-19. However, the post-pandemic period has turned into one of high inflation, with this serving to slow the foodservice recovery in real value sales terms moving into the forecast period.
Leisure, lodging and travel locations suffered the biggest losses in 2020 of around or close to half their sales, but have since been recording the strongest growth rates in 2021 and 2022. Standalone, which continues to dominate foodservice sales by location, registered the smallest decline in 2020, and has therefore been seeing slower growth rates in the last two years.
The shares held by takeaway, home delivery and drive-through all recorded strong growth in 2020, as consumers looked to avoid contact with strangers and eat-in was vetoed in most countries. Although it has since regained share, eat-in is still well down on its pre-pandemic levels, with many consumers sticking with their newfound takeaway/delivery habits.
Consumer foodservice will see positive growth throughout the forecast period in Latin America. All the main channels will enjoy increasing sales, with full-service restaurants remaining the biggest, while self-service cafeterias, the smallest channel, will record the highest CAGR.
Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.
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