This report provides a concise overview of the Bakery & Cereals market in Mexico. After reading this report, you will understand the size of the market, the economic, demographic and behavioral trends which will drive its evolution, and the leading players within the market, allowing you to plan effectively for the future.
Introduction and Landscape
Why was the report written?
This overview of the consumer and market dynamics of the Mexican Bakery & Cereals sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends which will drive growth in the coming years.
What is the current market landscape and what is changing?
Mexico’s growing population will drive strong future growth in Bakery & Cereal categories, particularly for staple foods such as Bread & Rolls and Morning Goods, which together account for almost half of the sector by value. However, the devaluation of the Mexican Peso in 2009 caused a substantial drop in the value of the Bakery & Cereals sector measured in US dollars, even as volumes increased. Improving economic conditions will drive growth in the sector’s value, though some categories have recovered faster than others.
What are the key drivers behind recent market changes?
A large, young and rapidly growing population and rising living standards makes Mexico a key emerging market for consumer packaged goods companies. However, the rising price of staple foods is damaging the ability of the country’s young middle class to purchase packaged goods. Meanwhile, convenience is of growing importance in Mexican food culture, as consumers look for quick and easy meals as a result of long working hours, the loss of women at home to cook meals as they enter the workforce, or as consumers replace traditional meal times with other leisure activities.
What makes this report unique and essential to read?
This report brings together co