Key regions: India, Canada, Spain, Philippines, United Kingdom
The Nuts Market within the Fruits & Nuts Market of The Food market in Mexico has seen minimal growth, impacted by factors such as low consumer health awareness and limited availability of online services. Despite this, the market is still experiencing steady growth due to the increasing adoption of digital technologies.
Customer preferences: As consumers in Mexico become more health-conscious, there is a growing trend towards seeking out healthier snack options, such as nuts. This is driven by a desire for convenient and nutritious on-the-go snacks, as well as a shift towards a more plant-based diet. Additionally, there is a growing awareness of the nutritional benefits of nuts, such as their high protein and healthy fat content. This has led to an increase in demand for a variety of nut-based products, including nut butters and granola bars, catering to diverse dietary preferences and lifestyles.
Trends in the market: In Mexico, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a shift towards healthier snack options, with a focus on natural and organic products. This trend is driven by consumer demand for healthier food choices and a growing awareness of the health benefits of nuts. Additionally, there is a rise in the consumption of nuts as a source of plant-based protein. This trend is expected to continue as more consumers prioritize health and wellness, presenting opportunities for industry stakeholders to tap into this growing market segment.
Local special circumstances: In Mexico, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's rich agricultural history and diverse climate, providing a wide variety of locally grown nuts such as pecans, pistachios, and peanuts. Additionally, the cultural preference for snacking on nuts as a healthy and convenient option has contributed to the market's growth. Furthermore, the government's efforts to promote sustainable and organic farming practices have led to an increase in demand for organic nuts, making Mexico a key player in the global organic nuts market.
Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is impacted by various macroeconomic factors in Mexico. The country's economic growth, trade policies, and consumer purchasing power play a significant role in shaping the market. Mexico's strong agricultural sector and favorable climate conditions contribute to the production of a diverse range of nuts, driving the market's growth. Additionally, the country's increasing health consciousness and demand for healthy snacks are also boosting the demand for nuts. However, fluctuations in global commodity prices, currency exchange rates, and trade agreements with key export markets can impact the market's performance. Furthermore, political stability and government policies related to food safety and import regulations also influence the market's growth.
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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