PROSPECTS AND OPPORTUNITIES
Health and wellness trends pose a threat to meals and soups and inspire healthier formulations
Health and wellness trends pose a serious threat for meals and soups in Mexico over the forecast period. Consumers are becoming more interested in the ingredients of foods and are opting for healthier alternatives, from products which have a specific health positioning, to opting for cooking at home so they are in complete control of all ingredients which go into their meals.
Foodservice sales continue to normalise
In a cross-category trend, foodservice sales of meals and soups are finally normalising back towards pre-pandemic figures following the disruptions created by the pandemic years and the subsequent boom once society reopened. This rather slow recovery can be attributed to cautious and rational spending by local consumers in response to high inflation and a challenging economic environment.
E-commerce options enhance the key driver of convenience for consumers
Although holding a small distribution share, e-commerce is expected to maintain a positive trajectory in meals and soups over the forecast period, driven by the convenience which online shopping offers, along with the wide ranges of discounts and deals which can be found in the e-commerce space. Home delivery options emphasise the convenience which meals and soups offer, as such services enable consumers to make their selections without even needing to leave the comfort of their homes.
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Overview:
Understand the latest market trends and future growth opportunities for the Meals and Soups industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Meals and Soups industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Meals and Soups in Mexico report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Meals and Soups in Mexico?
- Which are the leading brands in Meals and Soups in Mexico?
- How are products distributed in Meals and Soups in Mexico?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Meals and Soups?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Mexico?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Meals and Soups in Mexico - Category analysis
KEY DATA FINDINGS
Stabilising prices help to support sales in meals and soups
Sigma Alimentos maintains its leading place thanks to the success of its Fud, Guten, and El Cazo brands
Convenience is the key sales driver for meals and soups
Health and wellness trends pose a threat to meals and soups and inspire healthier formulations
Foodservice sales continue to normalise
E-commerce options enhance the key driver of convenience for consumers
Cooking Ingredients and Meals in Mexico - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
The following categories and subcategories are included:
Meals and Soups
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Meals and Soups research and analysis database.
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