Mexico Canned Food Market Report and Forecast 2024-2032

Mexico Canned Food Market Outlook

The Mexico canned food market size reached a value of approximately USD 2.40 billion in 2023. The market is further projected to grow at a CAGR of 4.10% between 2024 and 2032, reaching a value of USD 3.44 billion by 2032.

Key Trends in the Market

Canned foods are minimally processed foods that are preserved by heat treatment in sealed containers, separating the sterilised food away from the outside environment to prevent spoilage. Canned food retains essential nutrients such as proteins, fats, vitamins, carbs, and minerals that are considered essential for the overall health of the body.

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• Increasing number of working professionals and decreasing leisure time has augmented the demand for convenient and ready-to-go food options, including canned foods, as they do not require pre-planning and cutting, while washing and cleaning activities are also minimal. Due to this added convenience and lifestyle changes, the Mexico canned food market is witnessing a substantial growth.

• Growing inclination of consumers towards the consumption of organically grown food products, such as fruits, vegetables, and meat products, owing to various health benefits associated with them is boosting the demand for organic canned foods.

• The food manufacturers are focused on providing consumers high quality canned products with improved taste and high nutritional value. Such efforts are project to enhance the quality of canned foods and boost their consumption in various regions across Mexico.

Market Analysis

Based on source, the market is segmented into organic and conventional. On the basis of product, the Mexico canned food market  is divided into canned fruits and vegetables, canned meat and seafood, and canned ready meals, among others. By distribution channel, the market is categorised into supermarkets and hypermarkets, convenience stores, and e-commerce, among others. Based on region, the market is divided into Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Mexico canned food market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• ConAgra Brands, Inc.

• The Kraft Heinz Company

• Nestle S.A.

• Campbell Soup Company

• Del Monte Foods, Inc.

• Grupo Herdez

• Conserves La Costeña, SA de CV

• Others

Market Share by Product

Canned meat and seafoods held a major share in the Mexico canned food market owing to various health, nutrition, and convenience benefits associated with these products. Canned seafoods such as crabs, fishes, and clams are highly nutritious, have high amount of protein content, and are easy to store and lasts longer than fresh food. Manufacturers across the country are expanding their production rate for manufacturing canned meat and seafood in order to meet the growing demand.

Market Share by Distribution Channel

The supermarkets and hypermarkets segment accounted for a large share of the market owing to the availability of a wide range of essential and non-essential products, including packaged and canned foods, on retail shelves. Consumers across Mexico prefer purchasing canned foods from supermarkets and hypermarkets, as products from various brands and economic ranges are available for sale to customers  through these channels.

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Competitive Landscape

ConAgra Brands, Inc. was founded in 1919 and is headquartered in Illinois, United States. The company manufactures and distributes packaged foods for retail consumers, institutions, and restaurant chains, delivering the products to meet the the food industry's highest safety and quality standards.

The Kraft Heinz Company is a multinational food company that was founded in 2015 and is headquartered in Illinois, United States. The company is known for manufacturing and selling beverages, convenience food, food service and snack foods.

Nestle S.A. was established in 1866 and has its headquarters located in Vaud, Switzerland. The multinational food and beverage processing company is involved in the manufacturing and marketing of food products such as coffee, confectionery, creamer, bottled water, pet foods, and other packaged foods.

Other players in the Mexico canned food market include Campbell Soup Company, Del Monte Foods, Inc., Grupo Herdez, and Conserves La Costeña, SA de CV, among others.

Key Highlights of the Report