Mexico Food Service Market Size, Share, Trends, Forecast: By Type: Full-Service Restaurants, Street Stalls and Kiosks, Quick-Service Restaurants, Cloud Kitchens; By Structure: Independent Consumer Foodservice, Chained Consumer Foodservice; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Mexico Food Service Market Outlook

The Mexico food service market size reached approximately USD 41.28 billion in 2023. The market is projected to grow at a CAGR of 8.4% between 2024 and 2032, reaching a value of around USD 85.71 billion by 2032.

Key Trends in the Market

Food service, also known as catering, is a term used to refer to a wide range of establishments and operations that are involved in the preparation, distribution, and serving of food and drinks. It involves the provision of prepared meals, snacks, and beverages to individuals or groups of people in various settings, including restaurants, cafeterias, food trucks, and hotels, among others.

• One of the major factors responsible for the Mexico food service market growth is the increasing popularity of international brands such as McDonald’s, Domino's, and Starbucks, among others, in the country. These global brands come with a long-standing track record for providing high-quality, reliable, and consistent service, which is particularly reassuring for consumers.

Additionally, they place significant emphasis on marketing and advertising efforts, establishing a strong brand presence across different media platforms. This not only draws in new customers but also strengthens the loyalty of existing patrons.

• Mexico has undergone substantial demographic changes in recent times. With a burgeoning population and a rapid shift towards urbanisation, the Mexico food service market demand is likely to experience notable growth during the forecast period. Major urban hubs such as Mexico City, Monterrey, and Guadalajara have experienced a surge in interest in dining-out experiences, driven by a preference for convenience and a broader spectrum of culinary options.

• One of the key Mexico food service market trends is the growing influence of social media platforms on consumer behaviour. This trend is propelled by the rising authority of influencers and food bloggers in shaping consumer dining preferences. Restaurants and food service providers leverage platforms like Instagram, Facebook, and Twitter to showcase their offerings, connect with customers, and capitalise on food trends.

Market Analysis

Based on type, the market can be segmented into full-service restaurants, street stalls and kiosks, quick-service restaurants, and cloud kitchens. The Mexico food service market segmentation, based on structure, includes independent consumer foodservice and chained consumer foodservice. The major regional markets for food services in Mexico are Baja California, Northern Mexico, The Bajio, Central Mexico, the Pacific Coast, and the Yucatan Peninsula.

The comprehensive EMR report provides an in-depth assessment of the market based on 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 food service market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• McDonald’s Corporation

• Domino’s Pizza Inc.

• Starbucks Corporation

• Yum! Brands, Inc.

• Grupo Gigante, S.A.B. de C.V.

• Aramak

• CMR SAB De CV

• Grupo Herdez, S.A.B. de C.V.

• Burger King Corporation

• Panda Restaurant Group, Inc.

• Others

Market Share by Type

According to the Mexico food service market analysis, cloud kitchens are expected to witness substantial growth in the foreseeable future. Cloud kitchen, also known as ghost kitchen or virtual kitchen, is a fairly new concept in the foodservice sector. Unlike traditional restaurants, cloud kitchens operate without a physical storefront for dine-in customers.

The development of this establishment can also be attributed to various factors such as the rapid expansion of online food delivery services, lower operational costs, and operational flexibility.

Market Share by Structure

The rapid expansion of chained consumer food service establishments is expected to significantly influence the Mexico food service market share in the coming years. Such food service businesses are expected to expand rapidly owing to the possession of larger budgets for marketing and advertising compared to independent restaurants. In addition, chained consumer food service establishments can sometimes be more nimble in adopting new trends or technologies due to their resources and centralised decision-making processes.

Competitive Landscape

McDonald's Corporation is one of the largest fast-food brands in the world that was founded in 1940. The original restaurant was a drive-in called "McDonald's Bar-B-Q. The golden arches of McDonald's are one of the most widely recognised symbols in the world, and the brand is often associated with fast, convenient, and affordable food. The company is known for its standardised menu, which includes items like the Big Mac, Quarter Pounder, Chicken McNuggets, and the iconic McDonald's french fries.

Domino's Pizza Inc. is an American pizza delivery and takeout chain headquartered in Michigan. The company is one of the largest pizza delivery chains in the world. It operates thousands of restaurants in over 90 countries. It is primarily focused on delivery and carryout services. While it does have some dine-in locations, the majority of its sales come from orders placed for delivery or pick-up.

Starbucks Corporation is a multinational coffeehouse chain headquartered in Washington, United States of America. It is one of the most recognisable and influential coffee brands globally. The company was founded in 1971 and is primarily known for its coffee beverages. The company also distributes products such as tea, pastries, sandwiches, salads, and other snacks.

Other Mexico food service market players include Yum! Brands, Inc., Grupo Gigante, S.A.B. de C.V., Aramak, CMR SAB De CV, Grupo Herdez, S.A.B. de C.V., Burger King Corporation, and Panda Restaurant Group, Inc., among others.

Key Highlights of the Report

*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.