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Mexico Confectionery Market Size, Share, Growth, Report: By Product Type: Chocolate, Sugar Confectionery, Snack Bars, Others; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Speciality Stores, Online, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Mexico Confectionery Market Outlook
The Mexico confectionery market size is projected to grow at a CAGR of 5.6% between 2024 and 2032. The market is being driven by the rising demand for healthy and indulgent confectioneries and the growing trend of sustainability.
Key Takeaways
- Seasonal chocolates are expected to gain increasing popularity over the forecast period.
- An average Mexican consumes 5.8 kg of confectionery annually while spending USD 28.
- The demand for healthy yet indulgent confectionery is expected to increase in Mexico in the forecast period.
One of the key factors aiding the Mexico confectionery market growth is the growing trend of snacking. Customers are increasingly preferring indulgent snacks made with high-quality and healthy ingredients. Moreover, in the forecast period, the demand for artisanal and premium confectionery in Mexico is expected to rise amid the growing focus on quality.
Chocolates dominate the Mexico confectionery market share. Chocolates are consumed by Mexicans on a wide variety of occasions, including Valentine's Day, birthdays, and other events. Besides, the market is witnessing a shift towards indulgent yet healthy and low-sugar chocolates that can provide functional benefits.
The use of sustainable ingredients and packaging materials has become increasingly important in the country. This can be attributed to the growing trend of sustainability, the rising volume of waste and plastic pollution, and a surge in environmental consciousness. The growing focus on transparency and ethical sourcing is further propelling the Mexico confectionery market growth.
Retail stores account for a substantial portion of the sale of confectionery items in Mexico. However, with increasing internet accessibility and smartphone penetration, online distribution channels are expected to emerge as a leading channel for purchases by consumers.
Innovations in flavours and textures of confectioneries are expected to favour the Mexico confectionery market development in the forecast period. The rising demand for better-for-you confectioneries, new product development by key players, and the growing focus on health and wellness are anticipated to further revolutionise the Mexico market in the coming years.
Market Segmentation
Mexico Confectionery Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Product Type
- Chocolate
- White
- Dark
- Milk
- Sugar Confectionery
- Hard-Boiled Sweets
- Caramels and Toffees
- Mint and Gums
- Snack Bars
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online
- Others
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
The key Mexico confectionery market players are Nestlé S.A, Ferrero International S.A., Mondelez International Inc., Hershey Co., Mars, Incorporated, Canels Group, Grupo Industrial Sweets SA de CV, Dulcerama de México, VIBERSA SA DE CV, and Chocolatera Ibarra, S.A.P.I. de C.V., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Confectionery Market Overview
8.1 Key Industry Highlights
8.2 Latin America Confectionery Historical Market (2018-2023)
8.3 Latin America Confectionery Market Forecast (2024-2032)
8.4 Latin America Confectionery Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Confectionery Market Overview
9.1 Key Industry Highlights
9.2 Mexico Confectionery Historical Market (2018-2023)
9.3 Mexico Confectionery Market Forecast (2024-2032)
10 Mexico Confectionery Market by Product Type
10.1 Chocolate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 White
10.1.3.2 Dark
10.1.3.3 Milk
10.2 Sugar Confectionery
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Hard-Boiled Sweets
10.2.3.2 Caramels and Toffees
10.2.3.3 Mint and Gums
10.3 Snack Bars
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Mexico Confectionery Market by Distribution Channel
11.1 Supermarkets and Hypermarkets
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Convenience Stores
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Speciality Stores
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Online
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Mexico Confectionery Market by Region
12.1 Baja California
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Northern Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 The Bajío
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Central Mexico
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Pacific Coast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Yucatan Peninsula
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Trade Data Analysis (HS Code: 1704, 1806)
14.1 Major Importing Countries
14.1.1 By Volume
14.1.2 By Value
14.2 Major Exporting Countries
14.2.1 By Volume
14.2.2 By Value
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nestlé S.A
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Ferrero International S.A.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Mondelez International Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Hershey Co.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Mars, Incorporated
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Canels Group
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Grupo Industrial Sweets SA de CV
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Dulcerama de México
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 VIBERSA SA DE CV
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Chocolatera Ibarra, S.A.P.I. de C.V.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Confectionery Market: Key Industry Highlights, 2018 and 2032
2. Mexico Confectionery Market: Key Industry Highlights, 2018 and 2032
3. Mexico Confectionery Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Mexico Confectionery Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Mexico Confectionery Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
6. Mexico Confectionery Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
7. Mexico Confectionery Historical Market: Breakup by Region (USD Million), 2018-2023
8. Mexico Confectionery Market Forecast: Breakup by Region (USD Million), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Mexico Confectionery Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.6% between 2024 and 2032.
The different market segments based on product type include chocolate, sugar confectionery, and snack bars, among others.
The different distribution channels in the market are supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are Nestlé S.A, Ferrero International S.A., Mondelez International Inc., Hershey Co., Mars, Incorporated, Canels Group, Grupo Industrial Sweets SA de CV, Dulcerama de México, VIBERSA SA DE CV, and Chocolatera Ibarra, S.A.P.I. de C.V., among others.
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