Food & Drink - South America

South America

The Food & Drink market in South America is expected to achieve a significant milestone by reaching a total revenue of US$35.02m in 2022.
This projection indicates a promising future for the market segment.
Furthermore, it is anticipated that the market will experience an annual growth rate of 10.06% (CAGR 2022-2027), leading to a projected market volume of US$59.11m by 2027.
These figures highlight the potential for continued expansion and development in the South American region.
Within the Food & Drink market, various revenue streams contribute to its overall performance.
In-app purchase (IAP) revenue is projected to reach US$6.37m, while paid app revenue is expected to amount to US$0.76m in 2022.
Additionally, advertising revenue is estimated to reach US$27.89m in the same year.
These figures reflect the diverse sources of income within the market segment.
Furthermore, the number of downloads in the Food & Drink market is projected to reach 34.65m downloads in 2022.
This demonstrates the high level of consumer engagement and interest in the South American region.
Moreover, the average revenue per download is expected to be US$1.01, indicating the value generated from each user.
When considering a global perspective, it is noteworthy that in the United States generates the most revenue in the Food & Drink market, with an estimated amount of US$786.60m in 2022.
This highlights the significant role that in the United States plays in the global market and its potential for future growth.
In summary, the Food & Drink market in South America shows promising growth potential, with projected revenues and market volume indicating a positive trajectory.
The diverse revenue streams and high level of consumer engagement contribute to the market's overall success.
Additionally, the global comparison emphasizes the importance of in the United States in the Food & Drink market.

Key regions: United States, India, South Korea, Japan, Asia

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.