Mexico Baby Food, 2021 Update - Market Size by Categories, Consumer Behaviour, Trends and Forecast to 2026
“Mexico Baby Food, 2021 Update” is an analytical report which provides extensive and highly detailed current and future market trends in the Mexico market.
The number of live births in Mexico has generally been falling over the past decade.Moreover, both the crude birth rate and fertility rate also declined over the decade.
GDP fell by 8.9% in 2020 as a result of the COVID-19 outbreak and consumer price inflation stood at 3.4%. Commercially produced baby food has been on sale for a considerable period of time, and has gained widespread consumer acceptance, based largely on the popularity of baby milks. The Mexican baby food sector is centered on baby milks, accounting for 78% of overall value in 2020; while cereals and drinks had a relatively smaller share. Overall, retail sales have increased by 26.3% since 2014. Nestlé, Reckitt Benckiser, and Groupe Lactalis were the top three companies in the Mexican baby food sector. The vast majority of imports of milk and cereals originated from the Netherlands while exports were mainly destined for the US. Hypermarkets & supermarkets represent the leading distribution channel in the Mexican baby food sector, with over 50% value share in 2020. The analyst estimates that the number of live births will continue to fall, hampering baby food sales. Despite a gradual fall in the number of births from 2021, overall volume sales in the sector are forecast to expand marginally over 2020-2026 in volume terms, with value sales rising nearly 3.91% CAGR.
What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.
- The baby milks category accounted for 78% of overall baby food value sales in 2020 and grew at a CAGR of 3.96% during 2014-2020
- The baby cereals & dry meals category grew from Mex$419 million (US$31.5 million) in 2014 to Mex$472.7 million (US$22 million) in 2020, registering a CAGR of 2.03%
- The baby wet meals category grew at a value CAGR of 5.13% during 2014-2020, while the value sales of drinks contracted slightly at a CAGR of 0.21% during the same period
Reasons to Buy
- Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
- Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.