Brazil: Food Service - Hotel Restaurant Institutional
Link to report:
In 2019, the Brazilian food service industry reached US$117 billion. The 2020 forecast was signaling to an upward trend; however, the COVID-19 outbreak reshaped this estimate. For example, electronic payment companies reported a 65-75 percent decline in sales at bars and restaurants during the quarantine period in 2020. Food service operators expect revenues to be 25-35 percent below 2019 levels. Despite the challenging landscape for 2020, agricultural exports from the United States to Brazil increased 10 percent from January to August 2020, when referred to the same period of the previous year. This report brings the food service industry performance in 2019, which likely become a benchmark for the years to come.
