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Explore the latest trends and actionable insights on the Food market to inform business strategy and pinpoint opportunities and risks.

Market Size of Retail Food in South & Central America (2017-2021, $ Billion)

Industry: Food and Drinks Specialists
Current: Market Sizing & Shares

The Food segment in South and Central America reached a value of $299 billion in 2021
South and Central America has seen a negative CAGR of 3.4% in the Food segment for the period 2017-2021
South and Central America contribute 4% of the global market size in the Food segment

The Food & Grocery industry is divided into Food, Drinks, Tobacco, and Household products and is among the highest-selling product categories in the retail industry. The food segment alone accounts for 73% of the whole Food & Grocery industry. It is categorized into different products: Bakery Confectionary, Cooking ingredients, Dairy & Soy food, Desserts, Dried Food, Fish & Seafood, Fruit & Vegetables, Ice Cream, Meat, and Meat substitutes among others.

South and Central America contribute 4% of the global market size in the Food segment. Colombia, Argentine, Peru, Chile, and Brazil are the top markets of this region in the Food segment.

Food is a major part of Latin American culture and some of the popular cuisines from this region include Pupusas, Fiambre, Ceviche, Gallo Pinto, and Casado among others.

The Food segment in South and Central America reached a value of $299 billion in 2021, witnessing an increase of 1% from the previous year. Though the growth wasn’t significant, it is promising for the future as South and Central America was seeing negative growth for three consecutive years. This was on account of growth in the retail product categories as the world saw a recovery in the overall demand post-pandemic COVID-19 as both brick & mortar and online businesses resumed their operations after being under restrictions for almost two years.

The South and Central America region has seen a negative compound annual growth rate of 3.4% in the Food segment for the period 2017-2021 mainly because of the multiple outbreaks of the pandemic as the world came to a standstill for almost two years and South & Central America was one of the badly hit regions in the Food segment.

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