The production volumes of tobacco products in Mexico have showcased notable trends over the past decade. From 2013 to 2023, there has been an overall increase, with values rising from 31.89 billion to 44.91 billion Mexican Pesos in 2023. Year-on-year variations saw significant fluctuations, peaking in 2016 with a 15.73% increase. Post-2019, the industry experienced tighter changes, highlighted by a dip in 2020 (-3.97%) and subsequent recoveries, including a rise of 6.37% in 2021. The CAGR over the past five years (2019-2023) was 0.99%, indicating sustained yet modest growth.
Looking ahead, forecasted data from 2024 to 2028 predict continued growth, though at a slightly decelerated pace. The five-year CAGR is projected at 0.79%, resulting in an approximate growth rate of 3.99%. Key trends to watch for include potential regulatory changes, shifting consumer behaviors, and the impact of health campaigns on tobacco consumption patterns, which could influence future production volumes.
