The value added of food and beverages in Mexico rose steadily from 717.65 billion Mexican Pesos in 2013 to 1178.7 billion Mexican Pesos in 2023. The rate of growth showed a varied pattern, with notable increases between 2015 to 2017, where the year-on-year growth ranged from 7.37% to 9.46%. Post-2017, growth rates moderated, with year-on-year growth reaching 3.15% in 2023.
In terms of longer-term trends, the compound annual growth rate (CAGR) from 2013 to 2018 averaged around 7.01%, while the CAGR from 2019 to 2023 slowed down to 3.3%. Forecast data from 2024 to 2028 suggests a future CAGR of around 2.12%, indicating further deceleration in growth rates.
Future trends to watch for include potential impacts from economic policies, changes in consumer behavior, and disruptions in supply chains. Additionally, the ongoing evolution of the global food and beverage industry, with shifts towards sustainability and technological advancements, could influence the Mexican market significantly.
