Analysis of the production of food products in Mexico from 2013 to 2023 shows a general upward trend, with the value increasing from 1.6246 Trillion Mexican Pesos in 2013 to 2.6176 Trillion Mexican Pesos in 2023. The year-on-year variation peaked in 2021 with an 8.88% increase but saw a decrease to 3.09% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 3.26%. Future projections for the period from 2024 to 2028 estimate a continued but slower growth at a 5-year CAGR of 2.28%. The industry stood at 2.6176 Trillion Mexican Pesos in 2023.
Future trends to watch for:
- Technological advancements in food production.
- Impact of climate change on agricultural yield.
- Shifts in consumer preferences towards sustainable and organic products.
- Potential trade agreements or policy changes affecting the food industry.