Brazil's Consulting Market Segments

Brazil occupies a strategic entry-point to Latin America as the region's largest economy, and it's also home to a strong domestic consulting market, predominantly focused on the private sector.

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Here's the serviceable client market segments in Brazil for professional services firms:

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Over 80 Enterprise-level Companies ($100M+ revenue):

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→ Number of publicly traded companies collectively generating $790B in revenues with 1.5M employees

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→ The largest sector concentrations of stock market participants are comprised of financials, energy, materials and industrials

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→ Financials make up ~40% of Brazil’s listed companies, with major players like Itaú, Bradesco, Banco do Brasil, BTG Pactual, and NubankConsulting demand remains strong across AI & digital transformation, sustainability & ESG

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Over 2,850 PE-Backed Companies (mid-market and enterprise-level private companies):

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→ Estimate of PE-backed, mid-market companies based on a 3.4% PE penetration rate of Brazilian private companies

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→ Most PE activity (forecasted at $6B in 2025 deal volume) focused on logistics, agri-business, TMT, industrials and consumer (in particular sports)

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→ 1,426 M&A transactions reported in 2024 (down from record highs of 2021-2022, but higher than pre-Pandemic)

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You can find the full infographic of Brazil's professional services serviceable market segments below.

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And here are the market segments where UK consulting can deliver value in the Brazilian market:

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Financial services account for ~40% of B3's market capitalization

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With major players like Itaú, Bradesco, Banco do Brasil and BTG Pactual, there’s a large market for risk, regulatory change, fintech, and capital markets consulting.

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Energy and materials make up ~30% of B3's market capitalization

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With companies like Petrobras (energy), Vale (materials), Gerdau (materials), and Cemig (utilities/energy), these asset-heavy sectors create strong consulting demand in supply chain, capital projects, and digital transformation, along with notable uptake in recent years re: sustainability in it's agri-business sector.

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Consumer and retail firms represent a significant portion of Brazil's listed companies on the B3

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Companies like Ambev, Magazine Luiza, and RaiaDrogasil present opportunities across GTM strategy, customer analytics, and logistics modernisation.

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Though private equity has stalled since the Pandemic, there is growing mid-market PE activity

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This activity is mainly concentrated in sectors like logistics, industrial automation, agribusiness, and tech, much of which is exported internationally. Companies in this segment will require support with operating model design, digital transformation, cross-border logistics and ESG.

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For a breakdown of other country consulting and professional services market landscapes, visit our Resources page.