Recent Developments in the Latin America Fast Food and Quick Service Restaurants Market
Latin America fast food and quick service restaurants market is anticipated to grow at a significant CAGR of 6.9% during the forecast period (2024-2031). The market growth is driven by the changing food consumption behavior of the consumers coupled with the high urbanization across the region. Additionally, the increasing middle-class population and high purchasing power are also contributing to market growth during the forecast period. However, the various health concerns associated with the consumption of fast food and sugary beverages with low nutrient density, coupled with the healthy eating trend are restraining the market growth.
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Latin American fast food and quick service restaurants market is segmented by product type (burger & sandwich, pizza & pasta, beverages, desserts, salads, donuts, and others products), by category (vegetarian food, non-vegetarian food, and vegan food), by store type (chain store and independent store), by distribution channel (online and offline).
The major players in Latin America fast food and quick service restaurants market include Domino's Pizza, Inc., McDonald's Corp., Churromania Internacional, and Yum! Brands, Inc., and others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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