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

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

Summary

“Colombia 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 Colombian Foodservice market over the next five years (2021-2026) and acts as a vital point of reference for operators or suppliers.

Synopsis

• The overall value of Colombia’s foodservice profit sector declined at a CAGR of 3.9% during 2016-21, reaching COP35.2 trillion ($9.4 billion) in 2021. This decline was due to a substantial drop in the number of transactions in 2021, owing to the COVID-19 pandemic.
• Take-aways and deliveries played a crucial role in mitigating losses among foodservice businesses, especially in the QSR and FSR channels, due to convenience. Chain operators dominated the profit sector in 2021.
• In 2021, pub, club & bar was the largest channel in terms of sales, with a share of 44%. During 2021-26, the Colombian foodservice profit sector will register a strong CAGR of 13.6%. The number of transactions will register a CAGR of 7.4%, while the number of outlets will generate a CAGR of 1.9% during 2021-26.

• Overview of Colombia’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Colombia'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, and Pub, Club & Bar) within Colombia’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 Colombian population.
• Key players: Overview of market leaders within the four major channels including -business descriptions and number of outlets.

• QSR recorded a value share of 10.6% in 2021. The channel’s sales declined slightly, registering a negative CAGR of 1.0% to reach COP3,715.3 billion ($992 million) in 2021 from COP3,900.3 billion ($1,277 million) in 2016.
• The number of transactions decreased at a CAGR of 2.4% during 2016-21. FSR accounted for 15.9% of total sector revenue in 2021. The full-service restaurant channel declined in value during 2016-21. Sales fell by a negative CAGR of 3.3% during the period, driven mainly by the decline in number of transactions, which dropped at a negative CAGR of 4.7%.
• The average transaction increased at a CAGR of 1.5% in local currency, while value sales declined in dollar terms due to continued devaluation of the Colombian peso. Pub, club & bar was the largest channel in the profit sector in 2021, accounting for 44% of the sector’s value sales, with CO15,464.9 billion ($4.1 billion). The channel’s value declined at a negative CAGR of 5.2% during 2016-21.

• 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, and Pub, Club & Bar) will allow readers understand the wants and needs of their target demographics.