Staple foods in 2024: The big picture
Despite positive volume and value growth, the performance of staple foods in Mexico is weak. Mexico's GDP is expected to rise by 2.
Key trends in 2024
Despite the growing health and wellness trend, indulgence and the desire for immediate satisfaction are playing key roles in the positive growth of baked goods such as pastries and cakes, or even children’s breakfast cereals. In a challenging economic context, consumers tend to shift away from natural or healthy foods to those that provide instant enjoyment or small indulgences during difficult times.
Competitive Landscape
The competitive landscape of staple foods in Mexico remains highly fragmented, with leader Grupo Bimbo SAB de CV the only player to hold double-digit retail value share in 2024. The player benefits from a solid distribution network across the country and has made significant investments, including an important investment in its factory located in the City of Mexico for a new baked goods production line.
Channel developments
As local consumers become increasingly rational in their shopping habits, they are seeking special offers and discounts, with modern grocery retailers outperforming small local grocers in 2024. Despite this, small local grocers remains the most important distribution channel for staples foods in Mexico due to its close proximity to local neighbourhoods.
What next for staple foods?
A further stabilising of unit price growth over the forecast period and a new government are expected to bring greater certainty to consumers after a challenging review period. As a result, sales of staple foods are anticipated to grow in both volume and value terms in the coming years.
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Overview:
Understand the latest market trends and future growth opportunities for the Staple Foods 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 Staple Foods 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 Staple Foods 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 Staple Foods in Mexico?
- Which are the leading brands in Staple Foods in Mexico?
- How are products distributed in Staple Foods 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 Staple Foods?
- 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?
Staple Foods in Mexico
Staple foods in 2024: The big picture
Key trends in 2024
Competitive Landscape
Channel developments
What next for staple foods?
DISCLAIMER
Baked Goods in Mexico
KEY DATA FINDINGS
The stabilisation of prices boosts retail demand for baked goods in Mexico
Indulgence a strong driver of consumption for baked goods
Dominance of artisanal and strength of leader Grupo Bimbo limit expansion of private label
Tortillas to remain most popular format of baked goods in local market
Changes in consumption habits will impact ingredients and formulations
Grupo Bimbo likely to retain category leadership
Breakfast Cereals in Mexico
KEY DATA FINDINGS
Promotions and discounts boost retail volume sales
Both indulgence and healthy preferences negatively impact flakes
Multinational Kellogg retains dominance of breakfast cereals
Other RTE cereals set to record weakest performance
Children’s breakfast cereals offers growth potential despite decline in population aged 0-14 years
Private label likely to gain further ground over forecast period
Processed Fruit and Vegetables in Mexico
KEY DATA FINDINGS
Price growth slows, marginally boosting retail volume sales
Shelf stable beans leads sales due to importance in Mexican cuisine
Conservas La Costeña retains lead with focus on shelf stable format
Frozen processed fruit and vegetables set to outperform shelf stable options
Leading players will continue to change formulations and ingredients
Modern grocery retailers set to gain ground
Processed Meat, Seafood and Alternatives To Meat in Mexico
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
Rice, Pasta and Noodles in Mexico
KEY DATA FINDINGS
Challenging economic context boosts consumption of essential staple foods
Foodservice channel surpasses pre-pandemic levels
Toyo Suisan Kaisha leads sales and gains ground due to increasing penetration of noodles in Mexican households
Strong dependence on imported rice could impact domestic market
Refuting unsubstantiated claims set to boost the consumption of noodles
Increasing consumer confidence will play a key role in private label demand
The following categories and subcategories are included:
Staple Foods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
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- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
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- Shelf Stable Beans
- Shelf Stable Fruit
- Shelf Stable Tomatoes
- Shelf Stable Vegetables
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- Frozen Fruit
- Frozen Processed Potatoes
- Frozen Processed Vegetables
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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
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
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Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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This report originates from Passport, our Staple Foods research and analysis database.
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