The production volumes of food and beverage service activities in Mexico experienced a noticeable fluctuation between 2013 and 2023. After a decline in 2013 and 2014, the industry rebounded with significant growth up until 2017. However, growth rates decelerated thereafter, maintaining modest increases. By 2023, the production volume stood at 370.05 billion Mexican Pesos.
The year-on-year variation from 2021 to 2023 indicated steady minor growth:
- 2021: 0.38%
- 2022: 0.37%
- 2023: 0.36%
Over the last five years leading up to 2023, the industry had an average annual growth rate (CAGR) of 0.35%. Looking ahead to 2028, a forecasted CAGR of 0.27% suggests continued moderate growth, forecasting an overall increase of 1.34% from 2024 to 2028.
Future trends to watch for: Industry stakeholders should monitor potential influencing factors such as changes in consumer behavior, economic conditions, and regulatory developments which could impact future production volumes. Additionally, technological advancements in foodservice and trends toward sustainable practices could play significant roles in shaping future trajectories.