Argentina Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2028
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Argentina Foodservice Market Report Overview
The Argentina profit sector’s total revenue was estimated at ARS4.1 trillion ($14 billion) in 2023. The resumption of travel and tourism post-COVID-19 pandemic will drive the market to grow at a robust CAGR of over 59% during 2023-2028. According to the Ministry of Tourism, Argentina recorded a surge in foreign tourist inflow in 2023. Visitors found the country more affordable because of the depreciating currency.
Argentina Foodservice Profit Sector Outlook 2023-2028, (ARS Trillion)
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The Argentina foodservice market research report offers an in-depth analysis of the key issues impacting the market and presents growth opportunities for the sector participants. The report evaluates the Argentina foodservice market in terms of profit sector channels and cost sector channels for the next five years (2023-28). This report will act as a vital point of reference for business-critical decision-making among the foodservice operators or suppliers in Argentina.
Market Size (2022) | ARS4.1 trillion ($14 billion) |
CAGR (2022-2027) | >59% |
Historical Period | 2018-2023 |
Forecast Period | 2023-2028 |
Key Profit Sector Channels | · Quick-Service Restaurant (QSR)
· Full-Service Restaurant (FSR) · Pub, Club & Bar · Coffee & Tea Shop · Workplace |
Key Outlet Type | · Dine-in
· Takeout |
Key Owner Type | · Independent Operators
· Chain Operators |
Key Cost Sector Channels | · Education
· Healthcare · Military & Civil Defense · Welfare & Services · Complimentary Services |
Key Companies | · McDonald’s
· Mostaza · Standalone · Shopping arcade · Travel Stops |
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Argentina Foodservice Market Trends
- Health & wellness: Argentineans are increasingly conscious of dietary impacts on health, given the rising health & wellness trend. Therefore, they are seeking food and drink items that align with their health goals.
- Value for money: Amid rising prices and an unstable economy, cost-conscious consumers will seek value-for-money offerings.
- Revival of dine-ins: Consumers who avoided foodservice outlets due to the pandemic-induced restrictions started visiting restaurants more in 2023.
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Argentina Foodservice Market Segmentation by Profit Sector Channels
Pub, club & bar was the largest profit sector channel in 2023 by value sales.
The key profit sector channels in the Argentina foodservice market are Quick-Service Restaurant (QSR); Full-Service Restaurant (FSR); pub, club, & bar; coffee & tea shop; and accommodation among others. The pub, club & bar was the leading profit sector channel in 2023, followed by FSR and coffee & tea shops. The revival of the tourism industry will boost footfall in the channel in the coming years.
Argentina Foodservice Market Analysis by Profit Sector Channels, 2023 (%)
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Argentina Foodservice Market Segmentation by Cost Sector Channels
The key cost sector channels in the Argentina foodservice market are education, healthcare, military & civil defense, and welfare & services. In 2023, education was the largest cost sector, followed by healthcare and military & civil defense.
Argentina Foodservice Market Analysis by Cost Sector Channels, 2023 (%)
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Argentina Foodservice Market – Competitive Landscape
In 2023, standalone outlets generated the majority of the club, pub & bar channel in Argentina
The key foodservice companies in Argentina are:
- Standalone Outlets
- McDonald’s
- Mostaza
- Shopping arcade
- Travel Stops
Argentina Foodservice Market Analysis by Competitors
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Argentina Foodservice Market – Latest Developments
- Key operators in the QSR channel such as McDonald’s, Mostaza, and Burger King focused on generating consumer interest through popular collaborations and periodical launches of new menu items.
- In January 2023, McDonald’s Argentina signed a sponsorship deal with Argentina’s Liga Profesional de Fútbol to increase its visibility among consumers. Furthermore, in the same month, the operator expanded its menu by introducing the McCrispy range of chicken burgers in cheddar & bacon, spicy, and smoked BBQ variants.
Segments Covered in the Report
Argentina Foodservice Market Outlook by Profit Sector Channel (Value ARS Trillion, 2018-2028)
- Quick-Service Restaurant (QSR)
- Full-Service Restaurant (FSR)
- Pub, Club & Bar
- Coffee & Tea Shop
- Workplace
Argentina Foodservice Market Outlook by Cost Sector Channels (Value, ARS Trillion, 2018-2028)
- Education
- Healthcare
- Military & Civil Defense
- Welfare & Services
- Complimentary Services
Scope
The report includes:
- Overview of Argentina’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Argentina 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 Argentina 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.
Key Highlights
- The overall value and growth of Argentina’s foodservice profit sector 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.
Reasons to Buy
- Get specific forecasts of the foodservice market over the next five years will give readers the ability to make informed business decisions by identifying emerging/declining markets.
- Understand the consumer segmentation that details the desires of known consumers among all major foodservice channels (QSR, FSR, coffee & tea shop, and pub, club & bar).
Mostaza
Restaurant Brands International
Fabric Sushi
SushiClub
Hard Rock Cafe International
Havanna
Bonafide
Café Martinez
Starbucks
The Coffee Store
Table of Contents
Frequently asked questions
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What was the Argentina profit sector market size in 2023?
The Argentina profit sector market size was ARS4.1 trillion ($14 billion) in 2023.
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What will the Argentina profit sector growth rate be during the forecast period?
The profit sector in Argentina will grow at a CAGR of over 59% during 2023-2028.
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Which was the leading profit sector channel in the Argentina foodservice market in 2023?
The club, pub & bar channel was the leading profit sector channel in the Argentina foodservice market in 2023.
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What cost sector channel had the highest share in the Argentina foodservice market in 2023?
Education was the largest cost sector channel in the Argentina foodservice market in 2023.
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