The production of tobacco products in Mexico has shown a general upward trend from 2013 to 2023, starting from 25.2 billion Mexican Pesos in 2013 to 62.3 billion Mexican Pesos in 2023. Notable growth periods include 2014-2015 with a 35.94% increase and 2016-2017 with a 33.47% rise. However, there was a slight dip in 2020 with a -1.04% decrease. Over the last two years, production saw moderate increases of 3.69% and 3.49% respectively. The last five years show an average annual increase (CAGR) of 3.96%.
Forecasts estimate a continued increase in production, reaching 73.28 billion Mexican Pesos by 2028 with a 2.55% CAGR, contributing to a cumulative growth rate of 13.42% over the next five years. This sustained growth suggests a stable market with moderate expansion.
Future trends to watch for:
- Regulatory changes impacting tobacco production and consumption.
- Shifts in consumer preferences towards alternatives like e-cigarettes.
- Economic factors influencing domestic production and export potential.
