Key regions: Japan, Philippines, United Kingdom, India, South Korea
The Other Dairy Products & Eggs Market in Mexico is experiencing minimal growth due to factors such as changing consumer preferences, high competition, and limited availability of raw materials. However, increasing health consciousness and the convenience of online services are expected to drive growth in the future.
Customer preferences: Consumers in Mexico are increasingly opting for plant-based milk alternatives such as almond, soy, and coconut milk, driven by health and environmental concerns. In addition, the growing trend of veganism and lactose intolerance is also contributing to the rising demand for non-dairy milk options. This shift towards plant-based alternatives is also reflected in the market, with new product launches and innovations in the plant-based dairy segment. Moreover, the popularity of high-protein diets and the rising demand for protein-rich snacks are driving the growth of the egg market in Mexico.
Trends in the market: In Mexico, the Other Dairy Products & Eggs Market of the Dairy Products & Eggs Market is seeing a surge in demand for plant-based alternatives, driven by the growing health and environmental consciousness among consumers. This trend is expected to continue, with a projected CAGR of 11.2% from 2020 to 2025. This shift towards plant-based products has implications for industry stakeholders, as they will need to adapt their product offerings and marketing strategies to cater to this evolving consumer preference. Additionally, the rise of e-commerce and online shopping in Mexico is creating new opportunities for dairy and egg producers to reach a wider audience and expand their market share.
Local special circumstances: In Mexico, the Other Dairy Products & Eggs Market is heavily influenced by the country's rich history and cultural preferences. The consumption of traditional dairy products such as queso fresco and crema is deeply ingrained in Mexican cuisine, leading to a high demand for these products. Additionally, government regulations and trade agreements play a significant role in shaping the market, with the implementation of NAFTA opening up opportunities for international dairy producers.
Underlying macroeconomic factors: The Other Dairy Products & Eggs Market within The Food market in Mexico is affected by macroeconomic factors such as government policies, consumer spending, and economic stability. With a growing population and rising disposable incomes, there is an increasing demand for dairy products and eggs. Additionally, the shift towards healthier dietary choices and the growing awareness of the nutritional benefits of dairy products and eggs are also driving market growth. However, economic downturns and fluctuations in commodity prices can significantly impact the purchasing power of consumers and, in turn, affect the market growth. Furthermore, government regulations, trade policies, and international trade agreements also play a crucial role in shaping the market landscape for dairy products and eggs in Mexico.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
