Market Overview – Mexico

Country profile

Income and expenditure

In 2023, Mexico ranked third in Latin America for consumer income, driven by lower unemployment and increased labour productivity. Mexico's average gross income over the year of all individuals aged 15+ years was equivalent to US$18,118. However, income disparities have persisted, with a significant gender gap and high levels of inequality estimated to increase over the long term - and remain extremely high by global standards. Over the forecast period to 2028, mid-lifers (aged 35 to 39) were the highest income earners and the consumer group aged 45-49 are projected to remain predominant in the top-income band (>US$250k), while the lowest income social class E (<50% of avg: US$9,059) is set to be the fastest-growing social class and remain the prevalent segment of the population in Mexico. Middle class households, projected to contract, accounted for 26.5% in 2023.^{Footnote 1}

The average per capita disposable income in Mexico is forecast to increase by 9.0% in real terms between 2023 and 2028 - a faster pace than the Latin American average. The urban Mexico region is anticipated to remain the largest consumer market in Mexico by 2028, accounting for 14.1% of total consumer expenditure. Food and non-alcoholic beverages are forecast to be the largest consumer spending category by 2028, while hotels and catering will record the fastest growth over 2023 to 2028. By 2030, Mexico is projected to rank 35th out of 84 countries in terms of Euromonitor International's Wealth Index.^{Footnote 1}

Demographics

Mexico's population is expected to reach 133.3 million in 2028, representing an increase of approximately 4.4 million people (CAGR: 0.7%) from 128.8 million in 2023. This population growth will solely be driven by positive natural change, as net migration declines. When Mexico's population reaches around 142 million in 2040, it will be the 2nd largest country in Latin America, following behind Brazil. As the population of Mexico continues to grow, the country will become an increasingly attractive consumer market. However, inequality and poverty will remain issues for the nation, while growth of the middle class will be modest, with more of the population shifting towards economic stability.^{Footnote 2}

As females increasingly enter the workforce, many women are prioritizing education and careers before having children. This trend is contributing to falling birth rates, which partnered with rising life expectancy will in turn drive the ageing trend in Mexico. As a result of these trends, live births will also, continue to drop due to a decline in women aged 18 to 29 years by 2040. Mexicans aged 65+ will account for 13.9% of the population in 2040, up from 7.6% in 2021; while those aged 0 to 17 years will fall to 21%, compared to 30% in 2021. Nevertheless, Mexico will remain slightly younger regionally, with a comparatively elevated fertility rate of 1.7 children per female, aligning with the Latin American rate. Similarly, despite a rising old age-dependency ratio, it will be under the Latin American rate. All this said, the growth of retired citizens are shaping spending habits and placing pressure on younger generations to take over, as government services must improve public services, including the pension system.^{Footnote 2}

Improvements in living standards in Mexico will raise life expectancy to 78.3 years by 2040. Nevertheless, contrarily there will be a significant pressure placed on the healthcare system with increased illnesses related to an ageing population, not to mention amongst all ages with the increase of sedentary lifestyles and more access to less healthier convenience foods. These trends will lead to elevated levels of diabetes and obesity, with a significant number of the population (almost 19%) being set to have diabetes in 2040. There is also, a heightened emphasis on mental and physical wellbeing in Mexico, which will drive expenditure in products such as vitamins, sports nutrition and dietary supplements.^{Footnote 2}

Net migration will continue to be negative in Mexico from 2021 to 2040. A number of citizens are leaving Mexico for both education and career prospects abroad, popularly emigrating to the United States, Canada and Spain - due to its shared language. With the majority of foreign citizens that live in Mexico arriving from the United States, there are key opportunities for businesses that provide American goods and services within Mexico.^{Footnote 2}

Urbanisation will continue to rise in Mexico (2021 to 2040), as those rural citizens re-locate for work and career opportunities with 82.7% set to reside in urban areas by 2040. Most of the 10 major cities in Mexico will experience population growth with Tijuana growing the fastest over the review period. Mexico City will remain the largest urban landscape and continue to expand. Albeit, ongoing urbanization will be a difficult challenge with housing availability and pollution placing added pressures on infrastructure moving forward.^{Footnote 2}

Consumers

The median age of the total population in Mexico was 29.3 years, which consisted of 68.3% of the population between the ages of 15 and 64, followed by 24.2% aged (0 to 14) and 7.6% aged (65+) in 2023. Over the year, the primary per capita consumer expenditures consisted of food (US$2,285.1) and non-alcoholic beverages (US$265.1), followed by transportation (US$1,945.0), housing (US$1,722.5), household goods and services (US$631.3), leisure and recreation (US$515.4), and miscellaneous goods and services (US$993.6). Couples with children (38.9%) and other blended families (26.6%) were the prominent type of households in Mexico, followed by single person (13.0%), couples without children (11.7%), and single-parent family (9.7%) household types in 2023. Out of 36.9 million houses in Mexico, 92.5% of dwellings were houses and 6.6% were apartments - with 70.1% families being a home owner (63.2% without a mortgage), while 29.9% of these dwellings were rented.

According to Euromonitor International's Voice of the Consumer: Lifestyles 2024 survey (n=1,006), 72% of Mexican consumers express concern that the cost of everyday items they buy is going up as they continue to struggle with managing their household budgets. Climate change remains another important theme, whereby 44% (highest in Gen Z - ages 9 to 24) believe that it will affect their lives even more in the future and 63% of consumers felt that they can make a difference through their buying choices and actions. Furthermore, 40% of respondents in Mexico said they enjoy being actively engaged with brands, 75% said they want to engage with brands to influence product innovation, and 74% are only buying from brands they trust completely and/or that resonates with their personal values, lifestyle and personal image.^{Footnote 3}

Mexican consumers are becoming ever more price-conscious, as inflationary pressures drive up costs: where only 16% of respondents said they intended to increase their overall spending over the next year, with 63% hoping to save more and set stricter boundaries to balance their lives between work/school life and their personal life. Albeit, there is an increased focus on opportunities to travel, engage more with friends, and visit restaurants, especially since COVID-19 related restrictions. Just over half of consumers are dedicating their time to their favourite activities at least weekly (incl. cinema, online video gaming, stream content etc.), with consumers in Mexico feeling it is important to prioritize time for themselves. 63% of respondents who said they prefer online virtual experiences, also said they prefer to communicate online rather than face to face or by phone, while 44% said they use augmented reality (AR) or virtual reality (VR) to enhance their shopping experience.^{Footnote 3}

Mexicans are concerned about their health, prompting them to be more conscious about their unhealthy eating habits and manage their weight: with 21% of respondents indicating that they are on a diet trying to lose weight, 60% looking for healthy ingredients in food and beverages, and 40% closely reading the nutrition labels on the products. For a variety of reasons (incl. personal health, high prices, sustainability), 25% are trying to reduce their meat consumption, while 13% now eat meat (and fish) only occasionally. Almost a quarter of respondents, regularly seek private label and low-cost products as a result in rising food prices. The majority of consumers cook or bake at home (74%) at least weekly rather than dining out. Nevertheless, 37% of consumers said they reheat/prepare ready meals to save time and effort, while many are still tempted by convenience of ordering in: regularly order food for home delivery (37%) and takeaway or pick-up ready-made food (34%) - not having time being a major barrier to cooking at home.^{Footnote 3}

Production

Sugar cane was Mexico's primary domestic crop, with production volumes of 55.3 million tonnes in 2022, representing a decrease in CAGR of 0.7% from 56.8 million tonnes in 2018. Maize or corn at 26.6 million tonnes, oranges (4.9 million tonnes), sorghum (4.8 million tonnes), and tomatoes (4.2 million tonnes) were the other top crops produced in Mexico back in 2022. Wheat and lemons and limes attained the highest CAGRs (2018 to 2022) of 5.0% each, along with avocados (+3.7%), bananas (+2.5%), sorghum (+1.2%), and oranges (+0.6%) having positive growths over the year. All other primary crops produced in Mexico have shown slight declines in growth, including tomatoes, red chillies and green peppers, sugar cane and corn in 2022.

Chickens were Mexico's largest livestock raised for production with volumes of 611.2 million live animals in 2022, with a slight CAGR increase of 1.8% from 568.4 million in 2018. Cattle were Mexico's second largest livestock animal at 36.3 million, followed by swine or pigs (19.2 million), goats (8.8 million), and sheep (8.8 million) in 2022. All livestock in Mexico have shown signs of growth over the review period (2018-2022).

Meat of chickens (fresh or chilled) was Mexico's primary meat, producing 3.8 million tonnes in 2022 representing an increase at a CAGR of 3.2% from 3.3 million tonnes in 2018. Other most common primary meat produced in Mexico were fresh/chilled meat of cattle with bone (2.2 million tonnes) and fresh/chilled meat of pig with bone (1.7 million tonnes). Production of these top aforementioned meat products registered the highest growths with CAGRs between 2.4% and 3.6%, along with fresh/chilled/frozen edible offal of pigs (+3.6%) and edible offal of cattle (+2.4%) between 2018 and 2022.

Trade

Mexico is a net exporter of agri-food, seafood and beverage products. In 2023, Mexico's agri-food, seafood and beverages trade surplus was equivalent to US$7.8 billion with exports valued at US$51.8 billion and imports at US$44.0 billion. The United States was Mexico's primary agri-food and seafood supplier at imports of US$16.8 billion by a market share of 38.2%, followed by Brazil (after Canada) at US$1.1 billion (2.5%), China at US$579.3 million (1.3%), Chile at US$500.1 million (1.1%), and Spain at US$391.7 million (0.9%) in 2023.

Mexico's agri-food, seafood and beverage imports have increased by a CAGR of 11.4% from US$28.5 billion in 2019. In 2023, Mexico's top agri-food and seafood imports from the world were maize at a value of US$5.8 billion at a market share of 13.2% (main supplier: United States); soya beans, excl. seed at US$2.9 billion or 6.5% (United States, Brazil); fresh/chilled hams, shoulders and cuts of swine, with bone in at US$2.1 billion or 4.8% (United States, Canada); milk and cream in solid forms at US$1.1 billion or 2.5% (United States); and fresh/chilled bovine meat, boneless at US$1.1 billion or 2.4% (United States, Canada, Argentina).

Canada in comparison (as reported by Mexico), was its 2nd largest supplier of agri-food and seafood products at an import value of US$1.3 billion (market share: 2.9%) in 2023. Top imports from Canada over the year were fresh/chilled hams, shoulders and cuts of swine with bone in at US$274.3 million (21.5%) - of its Canadian products to Mexico, followed by fresh/chilled bovine meat, boneless at US$180.8 million (14.2%), canola oil, low erucic acid at US$134.3 million (10.5%), canola seeds, low erucic acid at US$134.1 million (10.5%), and waffles and wafers at US$99.0 million (7.8%).

Mexico's processed (value-added) food and beverage imports were valued at US$24.9 billion in 2023, with Canada as the 2nd largest supplier, accounting for US$1.1 billion at a global market share of 4.3%. Mexico's value-added imports increased by 9.6% from US$17.3 billion in 2019. In 2023, Mexico's top imports of these products from the world were fresh/chilled hams, shoulders and cuts of swine, with bone in (8.5%), milk and cream in solid forms, of fat content ≤1.5% (4.4%), fresh/chilled bovine meat, boneless (4.2%), canola meal from soya bean oil (3.4%), and other food preparations, nowhere else specified (2.9%). Top import partner countries from Mexico were the United States, Canada, China, Brazil, and Chile accounting for 62.6% of the Mexican processed food and drink market in 2023; with 29.3% not being specified of where these value-added products were coming from due to commercial or military reasons.

In 2023, Mexico exported US$51.8 billion of agri-food, seafood and beverages to global markets, which registered a CAGR of 7.1% from US$39.4 billion in 2019. Other than beverages such as beer and ethyl alcohol (<80% strength) used in spiritous drinks, Mexico's top agri-food exports were fresh/chilled tomatoes, fresh/dried avocados, fresh/chilled fruits of the genus capsicum or pimento, bread and other baked goods, and sweet biscuits in 2023. Mexico's top export markets over the year, were the United States (US$37.2 billion, 71.8%), Japan (US$876.1 million, 1.7%), Canada (US$559.0 million, 1.1%); with US$11.2 billion or 21.6% of its exports not specified for commercial or military reasons.

Canada's performance

As reported by Canada, the country exported Can$2.7 billion of agri-food, seafood and beverage products to Mexico in 2023. Canadian exports to Mexico grew by a CAGR of 13.0% between 2019 and 2023 - from Can$1.6 billion in 2019. Canadian provinces supplying agri-food and seafood products to Mexico were Saskatchewan at a value of Can$920.7 million (market share: 34.3%), followed by Alberta at Can$749.2 million (27.9%), Manitoba at Can$553.3 million (20.6%), Ontario at Can$281.3 million (10.5%), Québec at Can$152.6 million (5.7%), British Columbia at Can$22.7 million (0.8%), New Brunswick at Can$4.6 million (0.2%), Nova Scotia at Can$1.2 million (0.04%), Prince Edward Island at Can$922,175 (0.03%), Newfoundland and Labrador at Can$286,338 (0.01%), and the Yukon territories at Can$2,300 in 2023.

Amongst the leading provinces exporting to Mexico, Saskatchewan's top commodities supplied were canola seeds (Can$397.5 million, provincial share: 43.2%), canola oil (Can$189.4 million, 20.6%), non-durum wheat (Can$136.6 million, 14.8%), malt, excluding roasted (Can$52.3 million, 5.7%), and canary seed (Can$47.8 million, 5.2%) in 2023. As the 2nd largest provincial supplier to Mexico over the year, Alberta's top exports were canola seeds (Can$219.1 million, 29.3%), fresh/chilled boneless bovine meat (Can$194.3 million, 25.9%), non-durum wheat (Can$112.8 million, 15.1%), fresh/chilled hams, shoulders and cuts thereof of swine with bone-in (Can$40.3 million, 5.4%), and frozen edible bovine offal - excluding tongues and livers (Can$39.9 million, 5.3%). Following in 2023, was Manitoba as the 3rd largest export province with top commodities to Mexico being fresh/chilled boneless meat of swine (Can$131.0 million, provincial share: 23.7%), canola seeds (Can$126.6 million, 22.9%), canola oil (Can$79.5 million, 14.4%), non-durum wheat (Can$62.5 million, 11.3%), and dried shelled beans - excluding small red beans, kidney beans, Bambara beans and cow peas (Can$44.9 million, 8.1%).

Retail sales

Latin America's food and beverages industry is set to record stable growth over the forecast period, which is supported by the growing efforts in improving global food supply chains to expand the region's exports. Albeit surging inflation and decelerating economic growth will no doubt impede domestic demand and impact the food industry's expansion in the region. Meat products, vegetable oils and animal fats continue to be the largest food exports in the region, with the main net exporters of food and beverages being Brazil and Argentina. The region holds a strong livestock sector to help drive the food industry, whereby Mexico, Brazil and Argentina are forecast to remain the largest meat producers in the Latin American countries through to 2030 - in the near term, however, with beef being more expensive, consumers may favour the cheaper alternatives like poultry and pork instead.^{Footnote 4}

In 2024, retail sales of the packaged food market in Mexico was valued at US$100.4 billion, which experienced a positive CAGR of 9.6% from US$63.4 billion in 2019. The market is forecast to remain relatively stable and increase at a CAGR of 5.4% to attain US$130.6 billion by 2029. In Mexico, beverages totaled US$40.4 billion with soft drinks (incl. bottled water, carbonates, concentrates, juice, ready-to-drink coffee and tea, energy and sports drinks) accounting for 91%, and the remaining 9% of total sales in hot coffee and tea drinks in 2024.

The leading packaged food categories in Mexico with the largest retail value sales were staple baked goods (US$33.7 billion), dairy products (US$19.3 billion), savoury snacks (US$7.3 billion), processed meat, seafood and alternatives (US$5.8 billion), and sweet biscuits, snack bars and fruit snacks (US$5.7 billion). The packaged food categories with the highest growth were plant-based dairy (CAGR: 14.8%), rice, pasta and noodles (+12.7%), sweet biscuits, snack bars and fruit snacks (+10.6%), baked goods (+10.2%), and processed fruit and vegetables (+10.1%) between 2019 and 2024. Top sales in soft drinks and those showing good growth over the review period were carbonates at US$23.1 billion (CAGR: 7.7%), juice at US$5.2 billion (+9.4%), bottled water at US$3.0 billion (+8.5%), sports drinks at US$2.1 billion (+14.3%), concentrates at US$1.6 billion (+7.9%), and energy drinks at US$1.1 billion (11.9%) in 2024.

Competitive landscape

In 2024, top packaged food companies (brand) under each main food category in Mexico included Conservas La Costeña SA de CV (La Costeña) at a market share of 14.8% (US$1.5 billion) in the cooking ingredients and meals category; Grupo Lala SAB de CV (Lala) at 17.2% (US$3.9 billion) in the dairy products and alternatives category; Artisanal companies at 56.8% (US$26.6 billion) in the staple foods category; and PepsiCo Inc. (Gamesa) at 31.0% (US$6.4 billion) in the snacks category. The leading company (brand) with the highest hot drink sales (US$1.8 billion) was Nestlé SA (Nescafé) at US$1.8 billion (category share: 49.8%), while The Coca-Cola Company (Coca-Cola) registered top sales of US$19.3 million (52.6%) within the soft drinks category in 2024.

Health and wellness packaged food

In 2023, retail sales within the health and wellness (HW) sector for packaged food and drink products totaled approximately US$33.8 billion in Mexico. Over the year, the HW sector consisted of value sales for product types such as fortified functional (share: ~30.4%), dietary and free from (27.5%), better for you (18.5%), natural (14.3%), health benefit (8.0%), and organic (1.4%). Between 2019 and 2023, the overall HW sector has been growing by a CAGR of 14.7% and is forecast to slow down by a CAGR of 3.2% (2023 to 2028).

When broken down further in 2023, the common HW product claims under each main food category in Mexico were natural (sales: US$632.3 million), low fat (US$319 million), and no fat (US$238.2 million) in the cooking ingredients and meals category; good source of vitamins (US$3.7 billion), lactose free (US$3.0 billion), and good source of minerals (US$2.5 billion) in the dairy products and alternatives category; gluten free (US$541.5 million), natural (US$464.8 million), and good source of vitamins (US$452.2 million) in the snacks category; and gluten free (US$1.8 billion), natural (US$1.5 billion), and good source of vitamins (US$1.4 billion) in the staple foods category. The leading HW product claims within the hot drinks category were no caffeine (US$471.0 million), natural (US$172.8 million), and good source of vitamins (US$163.5 million), while top sales by claim type were weight management (US$7.0 billion), natural (US$2.3 billion), energy boosting (US$1.6 billion) within the soft drinks category in 2023. Between 2019 and 2023, the most popular growing claims (amongst the top listed) were gluten free snacks (+30.4%), good source of antioxidants hot drinks (+28.8%), good source of minerals snacks (+28.2%), gluten free staple foods (+28.1%), and no fat cooking ingredients and meals (+27.4%).

The HW industry continues to gain greater significance overall in Mexico, particularly in the wake of the pandemic, as consumers become more weary and cognisant of the negative impact of processed food and sugary drinks on their health and wellbeing. Consumers are increasingly seeking out healthier food and beverage options with a wide range of HW claims, that help boost their overall immunity, and that help against controlling the increasing prevalence of chronic diseases and other underlying health conditions linked to poor dietary choices, such as obesity, heart disease and diabetes.^{Footnote 5}

In addition, to heightened consumer awareness of the correlation between food and drink consumption and health, there is a growing concern about the impact of the food production on the environment in terms of its contribution to greenhouse gas emissions and climate change. As a result, Mexicans are seeking out food and beverage options that are environmentally sustainable, such as plant-based alternatives - which has led to a rise in demand for vegetarian and vegan products.^{Footnote 5}

Consumers in Mexico are becoming more concerned about their weight in general - 38% of the 18+ population was overweight (BMI 25-30kg/m²) in 2023, whilst 32% was obese (>BMI 30kg/m²). Similarly, on a global scale, the population (18+) that are considered overweight is high at 27%, with 15% of the population being considered obese in 2023. The introduction of sugar tax laws worldwide meanwhile has led to an increase in products with no added sugar, resulting in ingredient reformulations. In turn, manufacturers are leveraging fortified/functional and premium products that are marketed towards specific consumer needs such as energy-boosting, or those that benefit both the body and mind, along with those that target the prevalence of allergies in the general population (that is; gluten/lactose free).^{Footnote 5}

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• Total – HW sales: US$33.8 billion
• Fortified functional (US$13.8 billion): 30.4%
• Dietary and free from (US$12.5 billion): 27.5%
• Better for you (US$8.7 billion): 18.5%
• Natural (US$6.5 billion): 14.3%
• Health benefit (US$3.8 billion): 8.0%
• Organic (US$617.5): 1.4%

Source: Euromonitor International, 2024

Foodservice

Consumer foodservice in Mexico experienced healthy growth in 2023, reaching total retail sales of US$64.6 billion. Despite the fact, that Mexican consumers are more cautious about how they spend their money on non-essential items (58% said they are saving more - also, reflected in the slow recovery of transaction numbers), there was an increase in the average transaction value in other channels within the foodservice industry, which helped mitigate the impact of a less dynamic value growth. Major players in the industry have catered towards ensuring that Mexican cuisine remains an important part of local consumers' palates by attracting customers by investing in additional marketing campaigns, outlet renovations, offering greater convenience to users, or providing loyalty programmes. Moreover, recognizing that 15% of respondents prefer to spend their money on experiences rather than products, companies are launching new flavours and immersive experiences, centred around national flavours, as well.^{Footnote 6} Overall, foodservice sales increased by a CAGR of 3.8% (2019 to 2023) and is forecast to pick-up more at a CAGR of 7.1% (2023 to 2028) to reach US$91.1 billion by 2028.

In 2023, independent consumer foodservice outlets in Mexico registered the highest value sales at US$52.8 billion (market share: 81.8%) increasing at a CAGR of 3.2% versus sales in chained consumer foodservice outlets of US$11.8 billion (18.2%) increasing at a CAGR of 6.5% (2019 to 2023). Full-service restaurants (FSRs) at US$28.9 billion (market share: 44.7%) and limited-service restaurants (LSRs) at US$17.9 billion (27.7%) were the largest foodservice types, followed by good sales from within street stalls/kiosks at US$11.6 billion (18.0%), and lastly cafés/bars at US$6.2 billion (9.6%) in 2023. All foodservice channels in Mexico registered positive growths, with LSRs experiencing the highest growth at a CAGR of 6.2% over the review period.

In Mexico, the standalone (freestanding) foodservice establishments format was by far, the largest consumer foodservice location type with value sales of US$43.9 billion (market share: 68.0%), followed by retail locations at a value of US$11.1 billion (17.1%) and travel foodservice locations at US$6.8 billion (10.5%) in 2023. However, leisure foodservice locations (US$1.4 billion, 2.2% ) and lodging outlets (US$1.4 billion, 2.1%) experienced the highest growths at CAGRs of 4.9% and 4.2% respectively (2019 to 2023).

More Mexican consumers chose to eat-in (58.2%) for their foodservice needs over takeaway (27.8%), delivery (13.7%), and drive-through (0.7%) services in 2023. All foodservice sales consisted of 88.4% of direct offline ordering (US$57.1 billion), while approximately 12.1% of transactions consisted of online ordering (US$7.8 billion) services over the year. Overall, all types of foodservice outlets are expected to pick-up and experience higher growths than historical rates, in the forecast period (2023 to 2028) - especially in Mexico's chained foodservice outlets (+8.8%) in leisure locations (+11.2%), along with foodservice delivery (+17.9%) and online ordering (+17.3%) services.

In 2023, top chained foodservice companies (brand) in Mexico included Fomento Económico Mexicano SAB de CV (OXXO) at a market share of 2.1% (US$1.4 billion), followed by Starbucks Corporation (Starbucks) at 1.0% (US$623.1 million), Yum! Brands Inc. (KFC) at 1.0% (US$622.1 million), McDonald's Corporation (McDonald's) at 0.7% (US$453.5 million), and Restaurant Brands International Inc. (Burger King) at 0.6% (US$411.7 million). The leading foodservice online ordering service companies in Mexico were Uber Technologies Inc. at sales of US$408.0 million (5.2%), Rappi Inc. at US$284.3 million (3.6%), Didi Chuxing Technology Company Ltd. at US$201.9 million (2.6%), Domino's Pizza Inc. at US$105.7 million (1.4%), and others at US$6.8 billion (87.2%) in 2023.

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Resources

• Euromonitor International | December 2022. Briefing: Food, Beverages and Tobacco in Latin America
• Euromonitor International | March 2024. Country Report: Consumer Foodservice in Mexico
• Euromonitor International | June 2024. Country Report: Consumer Lifestyles in Mexico
• Euromonitor International | August 2024. Country Report: Health and Wellness in Mexico
• Euromonitor International | August 2024. Country Report: Income and Expenditure in Mexico
• Euromonitor International | March 2024. Mexico in 2040: The Future Demographic
• Global Trade Tracker, 2024.

Market Overview – Mexico
Global Analysis Report

Prepared by: Erin-Ann Chauvin, Senior International Market Research Analyst

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