Colombia Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Colombia Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Summary

“Colombia Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027” published by GlobalData provides extensive insight and analysis of the Colombian Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.

In 2022, Colombia recorded annual nominal GDP per capita growth of 21.5%. A significant portion of the growth was a result of escalating domestic demand, primarily supported by credit, and this trend only started to wane towards the end of the year when the contractionary monetary policy of the central bank started to have an impact. The Colombian profit sector’s total revenue reached COP47.2 trillion ($11.9 billion) in 2022, registering a negative compound annual growth rate (CAGR) of 0.6% from 2017 to 2022. The decline in tourism during the COVID-19 pandemic was the main reason for the fall.

The report includes -

• Overview of Colombia's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Colombian 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 Colombian 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.

Scope

• The Colombian profit sector’s total revenue reached COP47.2 trillion ($11.9 billion) in 2022, registering a negative compound annual growth rate (CAGR) of 0.6% from 2017 to 2022. The decline in tourism during the COVID-19 pandemic was the main reason for the fall.
• Pub, club & bar was the largest channel, contributing to 43.7% of total sales in the sector, while QSR secured the second position with a 15.1% share of sales.
• During 2017-22, the travel and leisure channels registered a sharp decline in value sales at negative CAGRs of 3.3% and 3%, respectively, as COVID-19 restrictions led to reduced tourist inflow. The accommodation channel registered the highest growth of 2.1%.
• In order to cater to consumer demands, QSR operators must prioritize incorporating healthy dishes in their menus, at the same time, keeping the taste familiar.
• Consumers visiting QSRs are influenced by the impact of menu items on their health and wellbeing. So, operators need to focus on offering healthy menu options with locally sourced, fresh, low-calorie ingredients.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2022-27) 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.