Ready-to-Eat Meals - Mexico

Mexico

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$12.37bn in 2024. The market is expected to grow annually by 5.61% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$95.57 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 2.36bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 3.5% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 16.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals market in Mexico has seen minimal growth due to factors such as changing consumer preferences and increased competition in the Convenience Food Market. Despite this, the convenience and time-saving benefits of these meals continue to drive market demand.

Customer preferences: In Mexico, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a growing demand for healthier and more diverse options. This trend is driven by a shift towards healthier eating habits, as well as an increased interest in international cuisine. As a result, companies are incorporating more plant-based and organic options into their ready-to-eat meals, catering to a more health-conscious and diverse consumer base. Additionally, the rise of e-commerce and food delivery services has made it easier for consumers to access these options, further driving the growth of the market.

Trends in the market: In Mexico, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a surge in demand due to changing consumer lifestyles and busier schedules. This has led to an increase in the availability of a wide variety of convenient and healthy ready-to-eat meals in the market. Additionally, there is a trend towards incorporating traditional Mexican flavors and ingredients in these meals, catering to the preferences of the local population. This trend is expected to continue to grow, providing opportunities for industry stakeholders to tap into the growing demand for convenient and culturally relevant food options. Furthermore, with the rise of e-commerce and online food delivery services in Mexico, there is potential for the Ready-to-Eat Meals Market to expand and reach a larger customer base in the future.

Local special circumstances: In Mexico, the Ready-to-Eat Meals Market within the Convenience Food Market is heavily influenced by the country's rich culinary heritage and a growing preference for convenient meal options. The market is also shaped by the country's diverse geographical landscape, with different regions having their own unique food preferences and consumption patterns. Additionally, the government's efforts to regulate food safety and labeling have had a significant impact on the market, with consumers becoming more conscious about the ingredients and nutritional value of their ready-to-eat meals.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is impacted by macroeconomic factors such as consumer spending patterns, trade policies, and economic stability. Countries with strong consumer spending and stable economies are expected to see higher demand for ready-to-eat meals, as consumers prioritize convenience and affordability. Trade policies, such as tariffs and import restrictions, can also impact the availability and cost of ingredients used in ready-to-eat meals, ultimately affecting market performance. Moreover, economic stability and fiscal policies, such as tax rates and subsidies, can influence the overall competitiveness of the market, as well as consumer purchasing power.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.