Summary
Peru Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026
Summary
“Peru Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026” published provides extensive insight and analysis of the Peruvian 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 Peru’s foodservice profit sector declined at a negative CAGR of 3.2% during 2016-21, reaching PEN27.6 billion ($7.1 billion) in 2021. This decline was due to a substantial drop in the number of transactions in 2021.
- Take-aways and deliveries played a crucial role in the foodservice sector due to convenience and digital and technological advancements.
- Independent operators suffered higher value decline in the overall Peruvian profit sector than chain operators. However, independent operators fared better in the QSR and coffee & tea shop channels owing to quick adaptation to changing consumer demands.
- Peru’s profit sector is forecast to record growth at a CAGR of 11.0% during 2021-26.
The report includes -
- Overview of Peru’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Peru’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, Coffee & Tea Shop, and Pub, Club & Bar) within Peru’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 Peruvian population.
- Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
Scope
- QSR was the largest channel in the Peruvian foodservice profit sector in 2021 accounting for a share of 43.8% of the sector’s value. The channel generated value sales of PEN12.1 billion ($3.1 billion) in 2021, increasing from PEN11.3 billion ($3.3 billion) in 2016, registering a CAGR of 1.4%, primarily due to its affordability.
- Full-service restaurants (FSR) is the second-largest foodservice channel in Peru, accounting for 41.1% of the total profit sector. However, it has declined at a negative CAGR of 3.0% during 2016-21 owing to restrictions on restaurants and lower tourist visits amid the pandemic.
- The coffee & tea shop channel accounted for 3.8% of the profit sector’s sales in 2021. The channel was valued at PEN1 billion ($270 million) in 2021 and declined at a negative CAGR of 10.0% during 2016-21. The channel is projected to grow at a CAGR of 20.7% during 2021-26, primarily led by rising transaction numbers, average transaction value, and consumers’ desire to socialize with friends after the long lockdown period.
- In 2021, the pub, club & bar channel generated value sales of PEN481 million ($124 million). The channel registered a significant decline at a negative CAGR of 14.4% during 2016-21, owing to strict lockdown policies implemented by the Peruvian government to restrict virus infections and subdued consumer spending. However, the channel is expected to strongly rebound and grow during the forecast period at a CAGR of 26.1%, reaching PEN1.5 billion ($386 million) in 2026.
Reasons to Buy
- 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, Coffee & Tea Shop, and Pub, Club & Bar) will allow readers understand the wants and needs of their target demographics.
