Mexico Foodservice Market - Growth, Trends, and Forecast (2019 - 2024)

Mexico Foodservice market is segmented by Type (Full-service Restaurant, Self-service Restaurant, Fast Food, Street Stall and Kiosk, Cafe and Bar, and 100% Home Delivery Restaurant) and Structure (Independent Consumer Foodservice and Chained Consumer Foodservice)

Market Snapshot

snapshot
Study Period:

2016-2024

Base Year:

2018

CAGR% (2019-2024):

5.9%

Fastest Growing Segment:

Cafe and Bar

Largest Segment:

Full-service Restaurant

Key Players:

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Market Overview

Mexico foodservice market is expected to witness a CAGR of 5.9% during the forecast period (2019 - 2024).

  • Mexico is an attractive market for international foodservice companies. There is an increase in export opportunities for the United States' food and beverage suppliers, especially, in the restaurant and hotel sector, due to the increasing number of domestic and foreign tourists.
  • Convenience foodservice remains a major factor in the form of convenience stores, as well as takeaway foodservice, in Mexico.
  • Based on sector type, full-service restaurants hold the largest share in the market studied. Cafes and bars are also growing at a fast rate in Mexico.

Scope of the Report

Mexico foodservice market report offers the services provided by segment into full-service restaurant, self-service restaurant, fast food, street stall and kiosk, cafe and bar, and 100% home delivery restaurant, structured as independent consumer foodservice and chained consumer foodservice.

By Type
Full-service Restaurant
Self-service Restaurant
Fast Food
Street Stall and Kiosk
Cafe and Bar
100% Home Delivery Restaurant
By Structure
Independent Consumer Foodservice
Chained Consumer Foodservice

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Key Market Trends

Booming Tourism Industry In Mexico

Mexico is experiencing rapid growth in the tourism industry, which is, in turn, profitable for the foodservice market of Mexico. The country is the most favorable holiday destination for tourists from the United States. With an increase in tourism in locations, like Mexico City, Riviera Maya, Los Cabos, Cancun, Puerto Vallarta, and Riviera Nayarit, an increase in investment has been observed. Chained foodservice companies are growing faster when compared to the independent ones. Restaurant chains expand their presence in major and smaller cities, along with a strong presence in locations, like shopping malls, airports, and bus stations. Domestic manufacturers have a competitive advantage over foreign suppliers, as they have a better understanding of the local food service industry, including the resources to gain prominence in this channel of distribution.

trend1

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In Mexico, Full-Service Restaurant is the largest Market

Full-service restaurant sector is growing in Mexico, as more independent operators are being launched. Due to a rise in employment and compressed schedules, there is an increase in takeaway expenditures and side takeaway chains, such as Chili’s Grill & Bar, Sushi Roll, or Taco Inn, which are increasingly becoming popular. Most of the independent full-service restaurants primarily focus on traditional Mexican dishes, like tacos, tortas, quesadillas, and pozole, which are not expensive to launch. Out of the total establishments in the country, around 5% are defined as full-service restaurants, chains, and franchises, which offer consolidated services, and the rest is medium and small independent restaurants

trend2

Competitive Landscape

The market studied is highly competitive, and the key players in the market are competing for major market share. The key players in the market studied are Starbucks, McDonald's Corp., Yum! Brands Inc., and Alsea SAB de CV among others. The key strategies adopted by these players in the market studied are expansions, innovations, and new food product launches. Companies are investing in the R&D activities to bring more innovation in the industry, and meet the changing consumer preferences for various cuisines.

Major Players

  1. Starbucks Corporation
  2. McDonald's
  3. Yum! Brands
  4. Alsea SAB de CV
  5. Doctor's Associates Inc.

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Full-service Restaurant

      2. 5.1.2 Self-service Restaurant

      3. 5.1.3 Fast Food

      4. 5.1.4 Street Stall and Kiosk

      5. 5.1.5 Cafe and Bar

      6. 5.1.6 100% Home Delivery Restaurant

    2. 5.2 By Structure

      1. 5.2.1 Independent Consumer Foodservice

      2. 5.2.2 Chained Consumer Foodservice

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Key Strategies Adopted

    3. 6.3 Market Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Starbucks Corporation

      2. 6.4.2 McDonald's

      3. 6.4.3 Yum! Brands

      4. 6.4.4 Alsea SAB de CV

      5. 6.4.5 Doctor's Associates Inc.

      6. 6.4.6 Grupo Gigante

      7. 6.4.7 Italian Coffee SA de CV

      8. 6.4.8 Franquiciadora Hawaiian Paradise SA de CV

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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