NEW YORK, Dec. 1, 2021 /PRNewswire/ -- The Mexican food market report offers information on several market vendors, including 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. among others. The Mexican food market is set to grow by USD 113.85 billion at a CAGR of 6.65% from 2021 to 2026, according to the latest research report from Technavio.
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58% of the market's growth will originate from North America. The US and Canada are the key markets for Mexican food in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and MEA. The increasing popularity of Mexican cuisine among consumers is one of the major growth drivers of the Mexican food market in North America. The growth of the market is also driven by the increasing number of consumers, especially millennial consumers, which will, in turn, facilitate the growth of the Mexican food market in North America.
The Mexican food market covers the following areas:
- Mexican Food Market Sizing
- Mexican Food Market Forecast
- Mexican Food Market Analysis
The Mexican food market is fragmented, and the vendors are deploying both organic and inorganic growth strategies to compete in the market. The report on the Mexican food market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
The report identifies the growing demand for convenience foods as one of the major factors driving the growth of the market. There has been a growing demand for convenience foods across the world. Rapid urbanization has increased disposable incomes globally. The demand for convenience and easy-to-prepare food products has increased because of rapid urbanization and the high participation of women in the workforce. Hence, the demand for convenience foods and fast foods such as Mexican food is increasing. However, stringent government regulations on Mexican food manufacturing pose a challenge to the global Mexican food market.
The Mexican food market analysis includes segmentation by type (tortillas, tacos, burritos, enchiladas, and others) and geography (North America, Europe, APAC, South America, and MEA). The Mexican food market share growth by the tortilla segment will be significant for revenue generation. The increasing per capita consumption in developed countries of North America and Europe is the major growth driver for this product segment. Changing taste preferences have increased the sales of flavored tortilla chips. As taste preferences vary across regions, global marketers have introduced new products.
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Mexican Food Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 6.65% |
Market growth 2022-2026 | USD 113.85 billion |
Market structure | Fragmented |
YoY growth (%) | 6.11 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 58% |
Key consumer countries | US, Canada, Norway, Finland, and France |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | 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. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio