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 |
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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.
