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Colombia - The Future of Foodservice to 2021

Colombia - The Future of Foodservice to 2021

Summary

Colombian economy is the fourth largest in Latin America, and has been steadily recovering from a banking and currency crisis that launched the country into turmoil in 1999. The poverty rate is decreasing, the middle class growing, and with GDP per capita consistently rising year on year, disposable income among consumers is increasing. Colombian economy is highly dependent on commodity exports, particularly fossil fuels and coffee. Low commodity prices over the last few years have caused the Colombian Peso to crash.

In 2016, the Colombian foodservice profit sector was one of the largest in Latin America, generating a value of over COP 36.5 Trillion (USD$12 Billion). Sales value in the sector rose at a CAGR of 3.4% from 2014-2016, and is forecast to grow at a CAGR of 3.6% from 2016-2021.Forecasted value growth will predominantly be driven by an increase in the number of transactions, expected to grow at a CAGR of 1.4% to 2021, while outlet number growth is set to remain at a CAGR of 0.8%. Convenience driven purchases are increasing in popularity, reflected in the takeaway growth exceeding that of dine-in, across all foodservice channels.

Quick Service Restaurants market is heavily fragmented with respect to outlets, with over 26,000 independent operators and just over 3,300 chain outlets. However, customers are considerably more loyal to chain operators, which account for 43.9% of the QSR market, despite only representing 11.3% of outlets. The value of the channel is forecast to increase at a CAGR of 4.0% from 2016-2021. This will primarily be driven by transaction number growth, which is forecast to have a CAGR of 1.9% from 2014-2016, up from a CAGR of 1.5% over 2014-2016. The future growth in the number of outlets is forecast to remain at a CAGR of 0.7%.

In 2016, Full service restaurant was valued at COP 6.6 Trillion, accounting for 18.0% of the foodservice profit sector, making it Colombia’s second largest channel. The value of the channel is forecast to increase at a 4.4% CAGR from 2016-2021. This will primarily be driven by transaction number growth, which is forecast to rise at a CAGR of 2.3% from 2014-2016, up from 1.9% CAGR over 2014-2016. The future growth in the number of outlets is forecast to increase to a CAGR of 1.2%, up from 1.1% over 2014-2016.

The report Colombia - The Future of Foodservice to 2021 provides extensive insight and analysis of the Colombian Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following analysis -

  • Overview of Colombia's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Colombia'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, Pubs, Clubs and Bars) within Colombia'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 Colombian population.
  • Key Players: Overview of market leaders within the three major channels including business descriptions and number of outlets.
  • Case Studies: Learn from examples of recent successes and failures within the Colombian foodservice market.
Companies mentioned in this report: El Corral, Frisby, Kokoriko, Subway, McDonald's, Bogotá Beer Company.

Scope
  • Colombia has an unusually prominant retail sector, with a 14.9% market share. There is great competition between the QSR and retail channels. This is primarily due to the thriving bakery sub-channel (in Retail), whose average transaction value is roughly half that of the QSR channel. This popularity is a consequence of the country's stark wealth inequality, prompting low-income consumers to favor better-value options.
  • Some QSR operators are beginning to position themselves as more upmarket, with higher quality menu items at a standard reminiscent of the FSR channel, and a dine-in atmosphere which is halfway between QSR and FSR. The channel is therefore expected to become more flexible, offering more varied experiences and appealing to a wider consumer demographic.
  • Despite its dominance in the foodservice sector, the pub, club and bar channel is forecast acclerated growth during 2016-2021, at a CAGR of 3.4%. Rising disposable incomes and a steadily growing economy will help drive an increase in alcoholic beverage sales. The recent success of a brewrey serving a range of beers and ales in a British-style pub, indicates growth opportunities to be found in pursuing similar ventures.
Reasons to buy
  • Specific forecasts of the Colombian foodservice market over the next five years (2016-2021) 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, Pubs, Clubs and Bars) will allow readers to understand the wants and needs of their target demographics.
  • Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within Colombia's foodservice market.


  • Introduction
    • Report Guide: Main Sections
    • Report Guide: Sub-Sections
    • Executive Summary
    • Executive Summary: Consumer Trends
  • Macroeconomic context
    • Macroeconomic Overview
    • Demographic Overview: Population
    • Demographic Overview: Income Bands
  • Introducing consumer segments
    • Introducing Consumer Segments: Constructing the Segments
    • Introducing Consumer Segments
    • Introducing Consumer Segments: Frugal Convenience-Seekers
    • Introducing Consumer Segments: Time-Poor Experimenters
    • Introducing Consumer Segments: Sporadic Splurgers
    • Introducing Consumer Segments: Regimented Routiners
    • Introducing Consumer Segments: Inbetweeners
    • Introducing Consumer Segments: Key Channel Overview
  • Profit sector
    • Profit Sector Metrics
      • Table Rising consumer confidence is fuelling growth in transactions and sales value
    • Profit Sector: Value and Share by Channel
    • Profit Sector: Value Growth by Channel
    • Profit Sector: Outlets and Growth by Channel
    • Profit Sector: Transactions and Growth by Channel
    • Profit Sector: Operator Buying Volumes and Growth by Channel
    • Profit Sector: Channel Historic Growth Dynamics
    • Profit Sector: Channel Future Growth Dynamics
    • Profit Sector: Restaurant: Outlet-Type Growth Dynamics
      • Table Restaurant outlet types 2016 value growth
    • Profit Sector: Restaurant: Type of Ownership Growth Dynamics
      • Table Restaurant owner types 2016 value growth
  • Quick service restaurants (QSR)
    • QSR: Summary
    • QSR: Metrics: Growth Dynamics
      • Table Increasing transactions will be the main driver of value growth
    • QSR: Key Players
    • QSR: Key Consumers: Segment Overview
    • QSR: Key Consumers: Frugal Convenience Seekers
    • QSR: Key Consumers: Time-Poor Experimenters
    • QSR: Key Consumers: Sporadic Splurgers
    • QSR: Key Consumers: Regimented Routiners
    • QSR: Key Consumers: Inbetweeners
    • QSR: Key Consumers: Opportunity Areas
    • QSR: Why?
    • QSR: What?
    • QSR: What?: Food and Drink Splits
      • Table Operator Buying Price (OBP) value COP million (USD$ million)
    • QSR: Where?
    • QSR: Where: Kokoriko Case Study
    • QSR: Where: Kokoriko : Trends Targeted
    • QSR: Where: Kokoriko : How
    • QSR: What Next?
  • Full service restaurants (FSR)
    • FSR: Summary
    • FSR: Metrics: Growth Dynamics
      • Table FSR outlet growth is stronger than in other major channels
    • FSR: Key Consumers: Segment Overview
    • FSR: Key Consumers: Frugal Convenience Seekers
    • FSR: Key Consumers: Time-Poor Experimenters
    • FSR: Key Consumers: Sporadic Splurgers
    • FSR: Key Consumers: Regimented Routiners
    • FSR: Key Consumers: Inbetweeners
    • FSR: Key Consumers: Opportunity Areas
    • FSR: Why?
    • FSR: What?
    • FSR: What?: Food and Drink Splits
      • Table Operator buyer product value COP million (USD$ million)
    • FSR: Where?
    • FSR: What Next?
  • Pubs, clubs, and bars
    • Pubs, Clubs & Bars: Summary
    • Pubs, Clubs & Bars: Metrics: Growth Dynamics
      • Table Despite its size, steady growth is expected
    • Pubs, Clubs & Bars: Key Consumers: Segment Overview
    • Pubs, Clubs & Bars: Key Consumers: Frugal Convenience Seekers
    • Pubs, Clubs & Bars: Key Consumers: Time-Poor Experimenters
    • Pubs, Clubs & Bars: Key Consumers: Sporadic Splurgers
    • Pubs, Clubs & Bars: Key Consumers: Regimented Routiners
    • Pubs, Clubs & Bars: Key Consumers: Inbetweeners
    • Pubs, Clubs & Bars: Key Consumers: Opportunity Areas
    • Pubs, Clubs & Bars: Why?
    • Pubs, Clubs & Bars: What?
    • Pubs, Clubs & Bars: What?: Food and Drink Splits
      • Table Operator buyer product value COP million (USD$ million)
    • Pubs, Clubs & Bars: Where?
    • Pubs, Clubs & Bars: Where: Bogotá Beer Company Case Study
    • Pubs, Clubs & Bars: Where: Bogotá Beer Company: Trends Targeted
    • Pubs, Clubs & Bars: Where: Bogotá Beer Company: How
    • Pubs, Clubs & Bars: What Next?
  • Cost sector
    • Cost Operator Trends: Historic Growth
    • Cost Operator Trends: Future Growth
    • Cost Operators: Data Breakdown
      • Table The education channel alone accounts for nearly 60% of total cost sector value
  • Appendix
    • Trade and Sectors Definitions
    • Channel Definitions
    • Other Definitions
    • Key Components – Market Intelligence

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