Argentina - The Future of Foodservice to 2028

Argentina - The Future of Foodservice to 2028

Summary

“Argentina - The Future of Foodservice to 2028” published by GlobalData provides extensive insight and analysis of the Argentine Foodservice market over the next five years (2023-28) and acts as a vital point of reference for operators or suppliers.

Argentina recorded annual nominal GDP growth of 117.8% in 2023, while nominal annual GDP per capita growth stood at 115.9%. However, in real terms GDP declined by 2.5%. Severe drought conditions and, consequently, a decline in the production and exports of soybeans contributed to this decline. The total revenue of the Argentine profit sector was estimated at ARS4.1 trillion ($14 billion) in 2023. QSR registered the highest CAGR during 2018-23, at 66.7%, followed by the accommodation channel at 63.8%. During 2023-28, the profit sector will register a strong CAGR of 78.7%. The number of transactions will register a CAGR of 2.4% during this period, while the number of outlets will record a CAGR of 1.6%.

The report includes -

• Overview of Argentina's macro-economic landscape: - Detailed analysis of current macro-economic factors and their impact on the Argentine 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 the Argentine 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 Argentine population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

The total revenue of the Argentine profit sector was estimated at ARS4.1 trillion ($14 billion) in 2023, recording a CAGR of 59.8% from 2018. The resumption of travel and tourism will further aid the sector’s growth in the forecast period. Pub, club & bar was the largest channel in 2023. It registered value sales of ARS1.2 trillion ($4 billion). However, the coffee & tea shop channel led the profit sector in terms of the number of transactions and outlet count. The ice cream parlor channel had the highest presence of chain restaurants in 2023, as chained outlets accounted for 91.8% of total channel revenue. High inflation and vulnerable macroeconomic conditions rendered consumers price-conscious and affected their choices at foodservice outlets during 2018-23.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2023-28) 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.