Mexico: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Mexico

In 2021, the Mexican prepared dish and meal market increased by 33% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a strong increase. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Exports of Prepared Dishes And Meals

Exports from Mexico

In 2021, shipments abroad of prepared dishes and meals decreased by -0.2% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 18% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, prepared dish and meal exports surged to $X in 2021. Overall, exports continue to indicate a slight slump. The growth pace was the most rapid in 2016 with an increase of 19%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for prepared dish and meal exports from Mexico, with a 43% share of total exports. Moreover, prepared dish and meal exports to the United States exceeded the volume sent to the second major destination, Colombia (X tons), fourfold. The third position in this ranking was held by Peru (X tons), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+10.0% per year) and Peru (+13.7% per year).

In value terms, the United States ($X) remains the key foreign market for prepared dishes and meals exports from Mexico, comprising 43% of total exports. The second position in the ranking was taken by Colombia ($X), with a 9.9% share of total exports. It was followed by Peru, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+15.4% per year) and Peru (+11.3% per year).

Export Prices by Country

In 2021, the average prepared dish and meal export price amounted to $X per ton, surging by 18% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the average export price increased by 50% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Guatemala ($X per ton) and the United States ($X per ton), while the average price for exports to Peru ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports into Mexico

After two years of decline, overseas purchases of prepared dishes and meals increased by 20% to X tons in 2021. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 22% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, prepared dish and meal imports surged to $X in 2021. Over the period under review, imports continue to indicate mild growth. The growth pace was the most rapid in 2016 with an increase of 20%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of prepared dish and meal to Mexico, with a 78% share of total imports. Moreover, prepared dish and meal imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. Guatemala (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+24.0% per year) and Guatemala (+14.4% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared dishes and meals to Mexico, comprising 84% of total imports. The second position in the ranking was held by Guatemala ($X), with a 4.1% share of total imports. It was followed by China, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+32.1% per year) and China (+12.9% per year).

Import Prices by Country

The average prepared dish and meal import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price saw a slight decrease. The most prominent rate of growth was recorded in 2013 when the average import price increased by 0.8%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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