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 dishes like chilaquiles, tacos, and mole gaining more attention, convenience foods and online food ordering are propelling the market’s growth.

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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 Mexican food market is expanding rapidly, driven by growing global interest in authentic Mexican food and the rising popularity of Mexican street food. Key segments such as the tacos market, salsa industry, and tortilla production are experiencing steady growth due to increasing Mexican food consumer demand. The influence of Tex-Mex cuisine has further contributed to market expansion, blending traditional Mexican dishes with modern culinary innovations. The Mexican restaurant industry is also witnessing significant growth, with major Mexican food chains expanding internationally. Additionally, the spicy food market is seeing heightened demand as consumers embrace bold flavors and diverse spice blends.

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 globalization of Mexican food culture has led to a rise in Mexican food exports, with traditional ingredients such as chilies, corn, and avocados reaching new markets. Innovations in Mexican food ingredients are shaping Hispanic food trends, with a focus on organic and non-GMO options. Additionally, Mexican food innovation is influencing product development in packaged foods, sauces, and ready-to-eat meals. Mexican food health trends are also gaining traction, with increasing consumer interest in plant-based alternatives and nutrient-rich recipes. As Mexican food globalization continues, restaurants and food brands are adapting to regional tastes while maintaining the authenticity of classic Mexican flavors.