‘A rising tide lifts all boats’ rings true for Mexico’s foodservice market, as stable economic growth combined with falling unemployment has created an emerging middle class better able to afford out-of-home meal occasions.
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"Mexico The Future of Foodservice to 2021", published by GlobalData, provides extensive insight and analysis of Mexico's foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.
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As such, the Mexican profit sector has grown at a CAGR of 3.9% form 2014-2016, with the market becoming increasingly attractive for international investment and operators.
The sector has also benefited from a growing number of international and domestic tourists as, following the Peso depreciation, the country has become a cheaper and more attractive holiday destination.
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FSR is the largest profit sector channel, holding a 42.8% share of profit sector sales in 2016. The channel is set to be the main beneficiary of Mexico’s positive economic climate, with rising discretionary incomes allowing families to trade up from QSR.
To 2021, growth of Mexico’s foodservice market is forecast accelerate to 4.0%, reaching a valuation of approximately MXN1.723 trillion.
The report includes
Overview of Mexico's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Mexican foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR and Coffee & Tea Shops) within the Mexican foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
Customer segmentation: indentify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Mexican population.
Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
Case Studies: Learn from examples of recent successes and failures within the Mexican foodservice market.
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Mexico’s QSR channel is the country’s second largest profit sector channel in terms of sales value and saw a value growth at a CAGR of 3.7% from 2014-2016. The channel is dominated by independents, which account for 72% of sales and 87% of outlets.
However, consumers cite a general preference for chains, which have grown at a CAGR of 4.0% from 2014-2016. This growth has encouraged investment from international operators, with brands such as Subway announcing plans to open additional outlets across the country.
The rise of casual dining outlets has driven rising visit frequency in the FSR channel. Casual dining outlets are expected to remain a popular dining solution for Mexico’s large young population, with under 29’s accounting for 53.3% of the population.
These consumers’ growing interest in FSR is reflected in more visits and increased spending. The rising popularity of international cuisines and of takeaway delivery will further boost growth in FSR.
Mexico’s coffee and tea shop market is valued at MXN18.2, accounting for 1.3% of the overall profit sector. The channel has been one of the main beneficiaries of Mexico’s strengthening economy, with consumers finding themselves increasingly able to spend on non-essential foodservice occasions.
As such, a number of operators including Tim Hortons and Dunkin’ Donuts have signalled plans to either enter or strengthen their positions in the market.
Reasons to access
Specific forecasts of the Mexican foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR and Coffee & Tea Shops) will allow readers understand the wants and needs of their target demographics.
Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the Mexican foodservice market.
Café Punta del Cielo
El Pollo Feliz
Finca Santa VeraCruz
Italian Coffee Company
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