Mexico: Potato Chips Market 2024

Potato Chips Market Size in Mexico

The Mexican potato chips market dropped to $X in 2022, with a decrease of -4% against the previous year. In general, consumption, however, showed a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Potato Chips Production in Mexico

In value terms, potato chips production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 33%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Potato Chips Exports

Exports from Mexico

In 2022, after two years of growth, there was decline in shipments abroad of potato chips, when their volume decreased by -4.3% to X tons. Over the period under review, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 61%. As a result, the exports reached the peak of X tons, and then declined slightly in the following year.

In value terms, potato chips exports surged to $X in 2022. In general, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.0% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for potato chips exports from Mexico, accounting for a 94% share of total exports. Moreover, potato chips exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +2.8%.

In value terms, the United States ($X) remains the key foreign market for potato chips exports from Mexico, comprising 94% of total exports. The second position in the ranking was held by Canada ($X), with a 5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +4.4%.

Export Prices by Country

The average potato chips export price stood at $X per ton in 2022, picking up by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2016 when the average export price increased by 24% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Potato Chips Imports

Imports into Mexico

Potato chips imports into Mexico declined slightly to X tons in 2022, shrinking by -4.6% on the previous year's figure. In general, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 47%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, potato chips imports stood at $X in 2022. The total import value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 44%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest potato chips supplier to Mexico, with a 89% share of total imports. Moreover, potato chips imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +1.7%.

In value terms, the United States ($X) constituted the largest supplier of potato chips to Mexico, comprising 88% of total imports. The second position in the ranking was held by Canada ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +3.1%.

Import Prices by Country

In 2022, the average potato chips import price amounted to $X per ton, surging by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.4%).

Source: IndexBox Platform

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