Key regions: China, South Korea, Russia, United Kingdom, India
The Cheese Market in Mexico is seeing minimal growth due to factors such as limited consumer interest and competition from other dairy products. Despite this, The Food market in Mexico is witnessing overall growth, driven by increasing demand for convenient and healthy food options.
Customer preferences: Consumers in Mexico are increasingly interested in alternative dairy options, such as plant-based cheeses made from ingredients like cashews and almonds. This shift is largely driven by a growing health consciousness and a desire for more sustainable and ethical food choices. Additionally, the rise of veganism and lactose intolerance in the country has also contributed to the increasing demand for non-dairy cheese alternatives. As a result, companies in the Cheese Market are now offering a wider range of plant-based options to cater to this evolving consumer preference.
Trends in the market: In Mexico, the Cheese Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier and organic options. This trend is driven by increasing consumer awareness and demand for natural and sustainable products. As a result, cheese producers are investing in new technologies and processes to meet this demand, such as using plant-based alternatives and reducing the use of antibiotics in dairy cattle. This trend is expected to continue, with consumers becoming more health-conscious and seeking out products that align with their values. This presents opportunities for industry stakeholders to cater to this growing market segment and differentiate themselves from competitors. Additionally, this trend has the potential to positively impact the environment and animal welfare, making it a win-win for both consumers and the industry.
Local special circumstances: In Mexico, the Cheese Market of the Dairy Products & Eggs Market within The Food market has been influenced by the country's rich cultural heritage and its proximity to the United States. The demand for authentic Mexican cheeses, such as queso fresco and cotija, has been on the rise in the US market, leading to increased production in Mexico. Additionally, the government's free trade agreements have made it easier for Mexican cheese producers to export their products to other countries, contributing to the growth of the market. The country's large population and growing urbanization also play a role in driving demand for cheese as a staple food in Mexican cuisine.
Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market in Mexico is influenced by several macroeconomic factors. Firstly, the global demand for dairy products and eggs is expected to increase due to the growing population and changing dietary preferences. This is likely to positively impact the market in Mexico. Additionally, the country's stable economic growth, favorable trade policies, and increasing investments in the food industry are expected to drive the growth of the cheese market. Furthermore, the rising disposable income of consumers and the growing trend of convenience food consumption are expected to boost the demand for cheese and other dairy products in the country. However, factors such as fluctuating prices of raw materials, changing consumer preferences, and stringent regulations on food imports could potentially hinder the growth of the market.
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.
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