The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2018
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Fast food in Latin America is growing at a significant pace, as the economies recover post-recession. Independent operators dominate but chained brands have made their mark through aggressive investment in product innovation. While chained fast food is present in most markets of the region, it remains underpenetrated as operators perceive these markets as offering limited opportunities. The preference for healthier ingredients and convenience of food delivery are key trends in fast food.
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Chained brands, such as Subway and Burger King, have invested extensively in expanding the number of outlets at commercial spaces and places of high traffic, for instance shopping malls. They have also opened up takeaway counters and set up self-ordering kiosks to enhance convenience for customers. Pocket-friendly deals and advertisements highlighting key features of food options have been initiated to attract consumers.
Consumers’ preference for healthier fast food options has compelled operators to include healthier ingredients in their menu. The “open door” policy of McDonald’s, which allows customers to visit the outlet kitchen, has been appreciated by consumers. Brands have started to add nutritional labels on product packaging, thereby helping consumers to make informed food choices.
Most foodservice operators outsource food delivery to third party delivery service providers, which has helped them to widen their reach to consumers who prefer eating in the comfort of their homes. This is also a cost-effective way for them to tap into the delivery segment with minimum investment.
Brazil continues to be a ripe market for chained brands, owing to its high population, coupled with rising consumer expenditure compared to other Latin American countries. As a result, key companies are concentrated in this country. Countries such as Chile and Colombia have a low presence of major brands owing to small consumer bases and difficult economic conditions. These markets are thus dominated by independent players.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.