Mexican food market size to grow by USD 113.85 billion from 2021 to 2026; A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 23, 2023 /PRNewswire/ -- The global Mexican food market size is estimated to increase by USD 113.85 billion from 2021 to 2026. The market's growth momentum will be progressing at a CAGR of 6.65% during the forecast period. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.Get detailed insights into the market study. Buy the report!

Mexican food market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• Discover some insights on market size before buying the full report - Request a sample report

Global Mexican food market – Vendor Analysis
The global Mexican food market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer Mexican food in the market are Chick-fil-A Inc., Chipotle Mexican Grill Inc., Del Taco Restaurants Inc., El Meson Sandwiches, Food Concepts International, Gruma SAB de CV, Grupo Bimbo SAB de CV, MTY Food Group Inc., Pappas Restaurants Inc., and YUM Brands Inc. and others.

Vendor Offerings -

• Chick-fil-A Inc. - The company offers Mexican food such as Pineapple chicken tacos and others.
• Chipotle Mexican Grill Inc. - The company offers a wide range of Mexican food such as burritos, salads, and more.
• Del Taco Restaurants Inc. - The company offers Mexican food such as fiesta packs, salads, and others.
• El Meson Sandwiches - The company offers Mexican food such as sandwiches and others.

Mexican food market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on type (tortillas, tacos, burritos, enchiladas, and others) and geography (North America, Europe, APAC, South America, and MEA). 

• The market growth will be significant in the tortillas segment during the forecast period. The segment is mainly driven by the increasing per capita consumption in developed countries in Europe and North America. In addition, factors such as the increasing number of nuclear families, rising employment opportunities, and the growing number of working women are contributing to the growth of the segment.

Geography Overview
By geography, the global Mexican food market is segmented into North America, Europe, APAC, South America, and MEA. The report provides actionable insights and estimates the contribution of all regions to the growth of the global Mexican food market.

• North America will account for 58% of the global market growth during the forecast period. The growth of the regional market is driven by the increasing preference for home cooking among Millennials. In addition, rapid urbanization, the presence of a well-established food industry, and high vendor penetration are fueling the growth of the Mexican food market in North America.

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Mexican food market – Market Dynamics

Leading Drivers – 

The market is driven by the growing demand for convenience foods. Improvements in job prospects and increased migration of people from rural areas to urban areas have led to a growth in the urban population. In addition, the high participation of women in the workforce has increased the demand for convenient and easy-to-prepare food products. Also, evolving lifestyles, changing food preferences, and the rising number of nuclear families are encouraging people to experiment with different cuisines such as tortillas. This is encouraging vendors in the market to expand their offerings under the Mexican food segment. All these factors are contributing to the growth of the market in focus.

Major challenges – 

Stringent government regulations on Mexican food manufacturing is a major challenge hindering market growth. Vendors operating in the Mexican food market must comply with various regulations set by regulatory bodies. For instance, in EU countries, manufacturers are required to comply with the rules set by the European Food Safety Authority (EFSA). Similarly, in India, FSSAI has published rules and regulations and specified permissible limits for the usage of heavy metals in food products. Hence, vendors must frequently check their food products produced at the site to ensure that the food products do not contain an excess of heavy metals. Complying with such regulations is a serious challenge for vendors and might negatively influence market growth.

Driver, trend, and challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Mexican food market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Mexican food market between 2022 and 2026
• Precise estimation of the size of the Mexican food market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Mexican food market industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Mexican food market vendors

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Related Reports:

• The Hispanic foods market size is expected to increase by USD 518.91 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.4%. The changing lifestyles and rise in demand for healthy, convenient food are notably driving the Hispanic foods market growth, although factors such as stringent regulations may impede the market growth.
• The tortilla market size is expected to increase by USD 9.98 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.58%. The increasing demand for convenience foods is notably driving the tortilla market growth, although factors such as fluctuations in food commodity prices may impede market growth.

Table of contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• Tortillas - Market size and forecast 2021-2026
• Tacos - Market size and forecast 2021-2026
• Burritos - Market size and forecast 2021-2026
• Enchiladas - Market size and forecast 2021-2026
• Others - Market size and forecast 2021-2026
• Market opportunity by Type

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• APAC - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Chick-fil-A Inc.
• Chipotle Mexican Grill Inc.
• Del Taco Restaurants Inc.
• El Meson Sandwiches
• Food Concepts International
• Gruma SAB de CV
• Grupo Bimbo SAB de CV
• MTY Food Group Inc.
• Pappas Restaurants Inc.
• YUM Brands Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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