PROSPECTS AND OPPORTUNITIES
Healthier options set to gain ground over forecast period
According to Euromonitor International's Voice of the Consumer: Lifestyles Survey (fielded January to February 2024), only 3.6% of Mexican consumers are vegetarian, and this percentage is relatively stable compared to previous years.
Shelf stable meat sales will remain low compared to frozen and chilled formats
Compared to shelf stable seafood, which dominates demand for processed seafood in Mexico, the penetration of shelf stable meat within overall processed meat, seafood and alternatives to meat will remain insignificant, despite a positive outlook. The low penetration in Mexican households is explained by several factors.
No important changes expected in competitive landscape
In a fairly fragmented competitive landscape, no significant changes are evident in 2024 and no major changes are expected over the forecast period. Sigma Alimentos SA de CV is set to retain its lead of processed meat, seafood and alternatives to meat, where it holds a 25% retail value share.
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Overview:
Understand the latest market trends and future growth opportunities for the Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat in Mexico?
- Which are the leading brands in Processed Meat, Seafood and Alternatives to Meat in Mexico?
- How are products distributed in Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat?
- 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?
Processed Meat, Seafood and Alternatives To Meat in Mexico - Category analysis
KEY DATA FINDINGS
Weak value growth due to special discounts to boost volume sales
In a challenging context, poultry is recording strong growth than red meat
Foodservice continues to expand but at a slower rate
Healthier options set to gain ground over forecast period
Shelf stable meat sales will remain low compared to frozen and chilled formats
No important changes expected in competitive landscape
Staple Foods in Mexico - Industry Overview
Staple foods in 2024: The big picture
Key trends in 2024
Competitive Landscape
Channel developments
What next for staple foods?
DISCLAIMER
The following categories and subcategories are included:
Processed Meat, Seafood and Alternatives to Meat
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
Processed Meat, Seafood and Alternatives to Meat
This is the aggregation of processed meat, processed seafood and meat and seafood substitutes.
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 Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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