Key regions: United States, Brazil, Germany, Italy, Spain
Mexico is one of the largest agricultural producers in Latin America, with a diverse range of crops and livestock. The Agriculture market in Mexico has been developing in recent years due to several underlying macroeconomic factors and local special circumstances.
Customer preferences: Mexican consumers are becoming increasingly health-conscious and are demanding more organic and locally sourced produce. This has led to a rise in small-scale farming and farmers markets, as well as an increase in the use of sustainable and environmentally friendly farming practices.
Trends in the market: One of the major trends in the Agriculture market in Mexico is the growth of the export market. Mexico has been able to take advantage of its proximity to the United States and has become a major supplier of fresh fruits and vegetables to the US market. Additionally, the demand for Mexican avocados has skyrocketed in recent years, making it one of Mexico's top agricultural exports.Another trend in the market is the increasing use of technology in farming. Mexican farmers are adopting new technologies to improve crop yields and reduce costs. For example, precision agriculture techniques, such as GPS-guided tractors and drones, are being used to optimize crop production and reduce waste.
Local special circumstances: Mexico has a diverse climate and geography, which allows for a wide range of crops to be grown. In addition to traditional crops like corn and beans, Mexico is also a major producer of fruits and vegetables, such as avocados, tomatoes, and berries. The country also has a large livestock industry, with beef and poultry being major exports.
Underlying macroeconomic factors: One of the key macroeconomic factors driving the Agriculture market in Mexico is the country's free trade agreements. Mexico has signed free trade agreements with over 50 countries, including the United States, Canada, and the European Union. These agreements have helped to open up new markets for Mexican agricultural products and have increased foreign investment in the sector.Another factor contributing to the growth of the Agriculture market in Mexico is the government's support for the sector. The Mexican government has implemented several programs to support small-scale farmers and promote sustainable agriculture practices. Additionally, the government has invested in infrastructure, such as irrigation systems and rural roads, to improve access to markets and reduce transportation costs.In conclusion, the Agriculture market in Mexico is developing due to a combination of customer preferences, local special circumstances, and underlying macroeconomic factors. The market is characterized by a growing export market, the increasing use of technology in farming, and a diverse range of crops and livestock. As Mexico continues to invest in the sector and take advantage of new trade opportunities, the Agriculture market is likely to continue to grow and evolve in the coming years.
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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