Latin America Fast Food Market Report and Forecast 2024-2032

Latin America Fast Food Market Size

The Latin America fast food market size reached USD 66.61 billion in 2023. The market is expected to grow at a CAGR of 5.60% between 2024 and 2032, reaching USD 108.63 billion by 2032.

Latin America Fast Food Market Outlook

• As per the McDonald's corporate report, the fast-food chain operated 2,566 restaurants in Latin America as of 2023.

• As per the National Institute of Statistics and Censuses, spending on Hotels and Restaurants in Argentina in 2023 was ARS 12.1 billion.

• As per Statistics Canada, consumer foodservice sales in Mexico totalled USD 50.3 billion in 2022.

Latin America Fast Food Market Growth

The Latin America fast food market growth comes from available different product types such as burgers and sandwiches.

The Pizza/Pasta segment offers a variety of Italian dishes popular in Latin American countries such as Mexico and Argentina, including a range of pizzas from traditional Margheritas to gourmet creations topped with various unique ingredients. Additionally, there are pasta options such as the classic spaghetti, alfredo, or bolognese. This segment is often dominated by fast-food chains that provide both takeaway and dine-in options.

The fast food market in Latin America may witness growth due to rising spending on hotels and restaurants along with a growing focus on influencer and collaborative marketing in line with trending media and entertainment characters and scenes to leverage their popularity. As of July 2023, McDonald's in Brazil, as part of its ‘Barbie’ marketing strategy, released a combination menu with a bacon cheeseburger and smoky pink sauce, among other items.

The Burgers/Sandwiches segment makes up the ideal fast food experience. Burgers typically consist of grilled, fried, or baked patties settled between buns, accompanied by lettuce, onion, cheese, pickles, and condiments such as ketchup and mustard. Sandwiches also encompass a wide variety of options, from ham and cheese to gourmet paninis.

Latin America Fast Food Market Segmentation

Latin America Fast Food Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Pizza/Pasta

• Burgers/Sandwiches

• Asian/Latin American Food

• Others

Market Breakup by End Use

• Full-Service Restaurants

• Quick Service Restaurants

• Others

Market Breakup by Country

• Brazil

• Mexico

• Argentina

• Others

Latin America Fast Food Market Share

Quick-service restaurants lead growth in the fast-food market since they offer convenient and efficient dining options which may at times be characterised by self-service and drive-thru facilities. These places typically offer a menu of popular items such as burgers, fries, pizzas, and beverages which emphasizes speed and value for money.

Leading Companies in the Latin America Fast Food Market

Major market players are expanding their outreach through investments in digital infrastructure, sustainable options and social responsibility including reducing plastic waste in the fast food industry.

• Domino's Pizza Inc.

• Yum! Brands, Inc.

• McDonald's Corp.

• Papa John's International, Inc.

• Subway IP LLC

• Restaurant Brands International Inc.

• Inspire Brands, Inc.

• Focus Brands LLC

• Wendy’s International, LLC

• Little Caesar Enterprises, Inc.

• Others

Key Highlights of the Report