Food & Beverages

Market Focus: Trends and Developments in the Savory Snacks Sector in Mexico

  • CAN61136
  • 24 Pages
  • July 2013
  • Food & Beverages
Synopsis
This report provides a concise overview of the Savory Snacks market in Mexico. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends that 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 Savory Snacks sector.

Key growth categories are highlighted by analyzing the market dynamics of 7 Savory Snacks categories.

Market shares are provided for the leading brands and private label across Savory Snacks categories.

An overview of packaging trends in the Mexican Savory Snacks 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 Savory Snacks 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 that will drive growth in the coming years.

What is the current market landscape and what is changing?
Mexicos growing base of young and affluent customers will drive strong future growth in Savory Snacks categories. However, the devaluation of the Mexican Peso in 2009 caused a substantial drop in the value of the Savory Snacks sector measured in US dollars, even though 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 Savory Snacks sector. This allows for the rapid identification of key growth opportunities across 7 Savory Snacks 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 Walmart 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.

Nuts and seeds and pretzels are expected to witness relatively strong growth rates during 2012-2017 as compared to during 2007-2012.

Meat Snacks and Ethnic/Traditional Snacks will register the highest and the lowest growth rates respectively during the period 2012-2017.

While growth has been steady in local currency terms, closely matching volume growth, volatile exchange rates have added complexity to the market for international companies
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