Food & Beverages

Market Focus: Trends and Developments in the Bakery & Cereals Sector in Mexico

  • CAN61769
  • 34 Pages
  • June 2013
  • Food & Beverages
Synopsis
This report provides a concise overview of the Bakery & Cereals market in Mexico. After reading this report, you will understand the size of the market, the economic, demographic and behavioral trends which will drive its evolution, and the leading players within the market, allowing you to plan effectively for the future.
Scope
Analysis of consumer behavior, economic conditions and demography reveals emerging opportunities in the Bakery & Cereals sector.

Key growth categories are highlighted by analyzing the market dynamics of 11 Bakery & Cereal categories.

Market shares are provided for the leading brands and private label across Bakery & Cereals categories.

An overview of packaging trends in the Mexican Bakery & Cereals sector is provided, including primary packaging material and type, packaging closures and outer packaging.


Summary
Why was the report written?
This overview of the consumer and market dynamics of the Mexican Bakery & Cereals sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends which will drive growth in the coming years.

What is the current market landscape and what is changing?
Mexicos growing population will drive strong future growth in Bakery & Cereal categories, particularly for staple foods such as Bread & Rolls and Morning Goods, which together account for almost half of the sector by value. However, the devaluation of the Mexican Peso in 2009 caused a substantial drop in the value of the Bakery & Cereals sector measured in US dollars, even as volumes increased. Improving economic conditions will drive growth in the sectors value, though some categories have recovered faster than others.

What are the key drivers behind recent market changes?
A large, young and rapidly growing population and rising living standards makes Mexico a key emerging market for consumer packaged goods companies. However, the rising price of staple foods is damaging the ability of the countrys young middle class to purchase packaged goods. Meanwhile, convenience is of growing importance in Mexican food culture, as consumers look for quick and easy meals as a result of long working hours, the loss of women at home to cook meals as they enter the workforce, or as consumers replace traditional meal times with other leisure activities.

What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the Mexican Bakery & Cereals sector. This allows for the rapid identification of key growth opportunities across 11 Bakery & Cereal categories and their packaging.
ReasonsToBuy
Food & Grocery sales in Mexico will increase across all channels; however, the majority of this growth will occur in modern retail chains as they expand beyond core urban centers and into smaller towns. The Food & Grocery market will consolidate as consumers continue to be attracted by the all under one roof offer and price advantage held by retailers such as Wal-Mart and Soriana.

Mexican consumers are increasingly looking for quick and easy meals. This is a result of long working hours, the loss of women at home to cook meals as they enter the workforce (over 40% of Mexican women are now economically active, as opposed to 32% in 1995), or as consumers replace traditional meal times with other leisure activities.

The value of Breakfast Cereals is growing quickly in Mexico, at a CAGR of 2.1% during 2007-2017, as a result of a combination of demand for a healthier breakfast, the influence of US culture, and the marketing power of large manufacturers.

Evolving consumption habits will affect demand in the Cakes, Pastries & Sweet Pies and Cookies (Sweet Biscuits) categories, where health-concerns will limit future growth, and in Cereal Bars, which are growing in popularity among busy consumers as a healthy stop-gap until they can eat a meal at a later time.

Bread & Rolls accounted for three-fifths of the total number of packs used in Mexicos Bakery & Cereals sector in 2012, driving significant demand for Flexible Packaging Bags/ Sachets with Plastic Tie closures.
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