Argentina Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026

Argentina Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026

Summary

“Argentina Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026” published by GlobalData provides extensive insight and analysis of the Argentina Foodservice market over the next five years (2021-2026) and acts as a vital point of reference for operators or suppliers.

Argentina showed signs of improvement in its economic activity in 2021 and its GDP per capita in terms of local currency registered a strong growth at 68.3% in 2021. The oil and fuel production and agriculture sectors contributed to the improved GDP, which was further fueled by gradual salary improvement and recent ease of COVID-19 restrictions. However, fiscal challenges and heavy debt might bring down the growth prospects for 2022. Argentina has experienced high rates of inflation over the past couple of years. Consumer price inflation was recorded at 46.7% in 2021, up from 42.7% in 2020. Inflation is projected to increase further in 2022, to 63.1%, owing to rapid devaluation of Argentine Peso. Argentina’s population increased from 45.4 million in 2020 to 45.8 million in 2021 and is expected to grow further in the coming years. In 2021, the Argentine foodservice profit sector generated value sales of ARS633 billion ($6.7 billion). While the sales value grew in local currency terms, it recorded a drastic decline in US dollar terms, indicating a drastic devaluation of the Argentine peso. Furthermore, the number of transactions and outlets drastically declined from 2016-21 as double-digit inflation rates and uncertain economic conditions forced Argentine consumers to cut back on their visits to restaurants and cafes

The report includes -

• Overview of Argentina’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Argentina's foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, Coffee & Tea Shop, and Pub, Club & Bar) within Argentina’s foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Argentina population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

• The overall value of Argentina’s foodservice profit sector reached ARS633 billion ($6.7 billion) in 2021, increasing at a CAGR of 17.5% during 2016-21. This growth was propelled by the resumption of tourism activities and the reopening of all the foodservice outlets to a large extent. Take-away fared better than dine-in services during 2016-21 as the country remained under lockdown for most part of 2020 and 2021. However, as the country resumes its tourism activities and the economic sentiment improves, dine-in services will recover by 2026.Pub, club & bar was the largest channel in the profit sector, generating a total value sales of ARS175.3 billion ($1.8 billion) in 2021, accounting for a share of 27.7%.
• The channel also recorded the highest average transaction value of ARS1,132.9 in 2021 compared to other profit sector channels. All channels improved their performance in 2021 . The accommodation channel recorded the fastest CAGR of 21.5% in 2016-21, followed by the QSR channel with a CAGR of 21.2%. FSR, which was severely hit by strict lockdown measures in 2020, improved its value sales towards the end of 2021 in line with the easing of restrictions.

• Specific forecasts of the foodservice market over the next five years (2021-2026) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea Shop, and Pub, Club & Bar) will allow readers understand the wants and needs of their target demographics.