Market Size of Latin America Airport Quick Service Restaurant Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Airport Quick Service Restaurant Market Analysis
The Latin America airport quick service restaurant market s anticipated to register a CAGR of 6% during the forecast period.
The COVID-19 pandemic led to a negative effect on the Latin America airport quick service restaurant market. The onset of the COVID pandemic led to various countries imposing stringent rules and regulations on travel and lockdowns which affected airport operations and airport revenues. The decline in the number of air passengers during the pandemic led to the closing of various restaurants within the airport owing to the fact that these restaurants were facing huge losses. On the other hand, the decline in the pandemic led to the opening up of the borders of various countries and the removal of regulations governing travel and lifting of the lockdown has again prompted the aviation industry in Brazil to witness growth in air passenger traffic. Overall, the growth in air passenger traffic led to a number of quick-service restaurants within the Brazilian airports reopening and continuing their operations and this will lead to growth in the market during the forecast period.
There has been a steady growth in the number of passengers traveling through air over the past decade. With high pricing and low quality of the inflight food, the demand to bring your own food (BYOF) concept is gradually growing particularly from domestic economy class passengers. The demand for the BYOF concept is anticipated to drive the growth of quick-service restaurants in the airport during the forecast period. The increasing investments in airport infrastructure for the construction of new terminals and new airports to cater to the needs of growing passenger traffic, are anticipated to generate new opportunities for the concessionaire in the coming years.
The stringent regulations of airport authorities, problems in logistics and limitations in the menus of the QSRs are hampering the growth of airport quick-service restaurants market.
Latin America Airport Quick Service Restaurant Industry Segmentation
A quick-service restaurant (QSR) is defined as a restaurant that can offer certain food items with minimal preparation time and is delivered through quick services.
The Latin America Airport Quick Service Restaurant Market is segmented by food type, food category, store type, and geography. By food type, the market has been segmented by meals, bakery and confectionery, beverages, and other food types. By food category, the market has been segmented into vegetarian food, non-vegetarian food, and vegan food. By store type, the market has been segmented into chain stores and independent stores. By geography, the market has been segmented into Mexico, Brazil, Argentina, Colombia, and the Rest of Latin America. Moreover, the report offers a market forecast and is represented by USD million. Furthermore, the report also includes various key statistics on the market status of leading market players and provides key trends and opportunities in Latin America Airport Quick Service Restaurant Market.
| Food Type | |
| Meals | |
| Bakery and confectionery | |
| Beverages | |
| Other Food Types |
| By Food Category | |
| Vegetarian Food | |
| Non-Vegetarian Food | |
| Vegan Food |
| By Store Type | |
| Chain Store | |
| Independent Store |
| Geography | |
| Mexico | |
| Brazil | |
| Argentina | |
| Colombia | |
| Rest of Latin America |
Latin America Airport Quick Service Restaurant Market Size Summary
The Latin America airport quick service restaurant market is poised for growth, driven by the recovery of air travel and increasing passenger traffic in the region. The market experienced a downturn due to the COVID-19 pandemic, which led to travel restrictions and a decline in air passenger numbers, causing many airport restaurants to close. However, as travel restrictions have eased and air traffic has rebounded, particularly in Brazil, the market is expected to expand. The demand for quick-service restaurants is further bolstered by the growing preference for the bring-your-own-food (BYOF) concept among domestic economy class passengers, as well as the increasing investments in airport infrastructure to accommodate rising passenger numbers. These developments are creating new opportunities for concessionaires in the region.
Brazil stands out as a key player in the market, with its robust economy and largest air transport market in Latin America. The growth in air passenger traffic and the expansion of food and beverage companies within Brazilian airports are significant contributors to the market's expansion. The availability of a diverse range of meals at lower costs compared to in-flight options is also driving the growth of airport restaurants. Major players like Burger King, Domino's, McDonald's, Starbucks, and Subway are expanding their presence in the region, capitalizing on the opportunities presented by the increasing number of low-cost carriers and the construction of new terminals and airports. These factors collectively suggest a positive outlook for the Latin America airport quick service restaurant market over the forecast period.
Latin America Airport Quick Service Restaurant Market Size - Table of Contents
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1. Market Dynamics
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. Market Segmentation
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2.1 Food Type
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2.1.1 Meals
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2.1.2 Bakery and confectionery
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2.1.3 Beverages
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2.1.4 Other Food Types
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2.2 By Food Category
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2.2.1 Vegetarian Food
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2.2.2 Non-Vegetarian Food
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2.2.3 Vegan Food
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2.3 By Store Type
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2.3.1 Chain Store
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2.3.2 Independent Store
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2.4 Geography
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2.4.1 Mexico
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2.4.2 Brazil
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2.4.3 Argentina
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2.4.4 Colombia
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2.4.5 Rest of Latin America
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Latin America Airport Quick Service Restaurant Market Size FAQs
What is the current Latin America Airport Quick Service Restaurant Market size?
The Latin America Airport Quick Service Restaurant Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Latin America Airport Quick Service Restaurant Market?
Burger King Corp., Domino's Pizza, Inc., McDonald's Corp., Starbucks Corp. and Subway IP LLC are the major companies operating in the Latin America Airport Quick Service Restaurant Market.
