Key regions: United Kingdom, United States, Brazil, Germany, Italy
Mexico, known for its rich culinary heritage, has a thriving meat market that has seen significant growth in recent years.
Customer preferences: Mexicans have a strong preference for meat, with beef being the most popular type of meat. Pork and chicken are also widely consumed. The demand for meat in Mexico has been driven by the country's growing middle class, who have more disposable income to spend on food. Additionally, the popularity of meat-based dishes in Mexican cuisine has further boosted the demand for meat.
Trends in the market: One of the key trends in the Mexican meat market is the increasing demand for premium meat products. Consumers are willing to pay a premium for high-quality meat that is free from hormones and antibiotics. This trend is driven by growing health consciousness among consumers, who are looking for healthier and more sustainable food options. Another trend in the market is the rise of e-commerce, with more consumers opting to purchase meat online. This trend has been accelerated by the COVID-19 pandemic, which has led to a shift towards online shopping.
Local special circumstances: Mexico has a large livestock industry, with the majority of the meat produced domestically. However, the country also imports a significant amount of meat, particularly from the United States. The Mexican government has implemented a number of measures to support the domestic meat industry, including subsidies for small-scale producers and the promotion of local meat products. Additionally, the country has a strong tradition of street food, with many vendors selling meat-based dishes such as tacos and burritos.
Underlying macroeconomic factors: The Mexican economy has been growing steadily in recent years, which has led to an increase in disposable income and consumer spending. This has boosted the demand for meat products, particularly premium and high-quality options. Additionally, the country's growing middle class has led to a shift towards more Western-style diets, which typically include more meat. However, the Mexican meat market is also facing challenges, including rising production costs and competition from imported meat products. The COVID-19 pandemic has also had a significant impact on the market, with disruptions to supply chains and changes in consumer behavior.
Data coverage:
The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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