Mexican Food Market Analysis and Forecast 2024-2028

The Mexican food market is forecast to increase by USD 104.8 billion, growing at a CAGR of 6.2% between 2023 and 2028. This vibrant market is fueled by the increasing popularity of Mexican cuisine, attracting food enthusiasts across the globe, particularly in North America, Europe, and other key regions. With traditional authentic recipes like chilaquiles, tacos demand continues to rise, alongside growing salsa sales and tortilla production. The expansion of fast food chains featuring spicy flavors and the increasing preference for plant-based options are key drivers shaping the industry. Additionally, the rise of frozen meals and the convenience of online food ordering are further propelling the market’s growth. The sector is also benefiting from increased food export, expanding Mexican culinary influence globally.

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Key Market Segments

The Mexican food market can be segmented by type and geography.

By Type:

• Tortillas
• Tacos
• Burritos
• Enchiladas
• Others

By Geography:

• North America: The market is seeing substantial growth in North America, accounting for 58% of the market’s global growth. The increased appreciation for Mexican cuisine and traditional cooking styles has greatly contributed to this rise.

  • United States
  • Canada

• Europe: Significant growth in European countries, where the demand for authentic Mexican flavors and convenience foods is on the rise.

  • France
  • Norway

• APAC

• South America

• Middle East and Africa

Market Drivers and Trends

• The growing demand for convenience foods, driven by urbanization and an increase in disposable income, is a major driver of market growth. Consumers in urban centers seek quick and easy meal options, with Mexican cuisine being a popular choice.
• The trend of online food ordering through portals and mobile apps is revolutionizing food consumption. With platforms offering more convenience and reducing communication errors, food lovers increasingly opt for takeaway and delivery services.
• Mexican food’s popularity as a vacation and holiday destination choice for sun-seeking food enthusiasts is another key trend. Traditional dishes like chilaquiles and mole continue to attract consumers looking to explore vibrant flavors.

Market Challenges

• Strict regulations pose a challenge to manufacturers in ensuring the safety and quality of products. International standards from organizations like ISO and FSSC 22000 regulate food safety and require significant investments from producers.

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Market Research Overview

The food market for authentic cuisine is experiencing rapid expansion, driven by the increasing demand for traditional Mexican dishes such as tacos, burritos, and enchiladas. Consumers are seeking diverse flavors, including a wide range of salsa varieties, tortilla chips, and guacamole, reflecting the influence of street food culture in shaping culinary preferences. The popularity of quesadillas and the use of chili peppers in recipes continue to enhance the appeal of Mexican cuisine worldwide. Additionally, mole sauce and tamales remain staples in both homemade and restaurant menus, with chefs emphasizing the use of regional spices to maintain authenticity.

Key Players

• B and G Foods Inc.
• Campbell Soup Co.
• Chick-fil-A Inc.
• Chipotle Mexican Grill Inc.
• Churromania
• Conagra Brands Inc.
• Concha y Toro
• Corporativo Bimbo SA de CV
• Del Taco Restaurants, Inc.
• El Meson Sandwiches
• Food Concepts International
• Gruma SAB de CV
• Juanitas Foods
• La Preferida Inc.
• MTY Food Group Inc.
• OTB Acquisition LLC
• Pappas Restaurants Inc.
• Patron Mexican Bar and Grill
• PepsiCo Inc.
• YUM Brands Inc.

Research Analysis Overview

The integration of tequila pairings with Mexican cuisine has contributed to the evolving dining experience, while the demand for plant-based dishes is reshaping traditional recipes. Consumers are also exploring frozen meal options, making Mexican flavors more accessible in global markets. Key food market trends highlight the shift toward healthy recipes, as businesses cater to health-conscious customers seeking nutritious yet flavorful meals. The steady rise in demand for Mexican cuisine has contributed significantly to culinary market growth, with restaurants and food producers continuously innovating to meet changing consumer preferences.