Mexico Food Preservatives Market- Growth, Trends and Forecast (2020 - 2025)

The Mexico food preservatives market is anticipated to witness a CAGR of 5.59% during the forecast period (2020 - 2025).

• The country is well involved in trading of its products and agricultural commodities and thus an inflating demand for food preservatives is an opportunity for the Mexican manufacturers to strengthen their trade, especially of the naturally extracted preservatives, where the country's agriculture industry is evolving.
• With a direct influence from the United States, the country has a large number of consumers inclining towards processed foods and beverages, thus inflating the demand. The factor is also driving the market to an extent and the manufacturers have a chance to increase the production to satiate the consumer demand.
• However, increasing awareness against the use of synthetic preservatives is anticipated to strain the market growth to an extent.

Key Market Trends

Increasing Demand of Clean-label Foods is Likely to Fuel the Natural Preservatives Market

Clean label foods have become an important part of consumer habits. The country is much more emphasizing on the use of clean-label products due to the transforming lifestyles of the local people. The health-conscious consumers in Mexico are increasingly opting for food and beverage products that claim to be free from artificial preservatives and are clean-label. Thus, increasing awareness regarding the significance of clean-label will, in turn, boost the demand for natural preserving solutions for processed food especially, driving the market in the near future.

Bakery is a Largest Application Segment for Food Preservatives in the Country

The sales value of bakery products in the country is more than any other segment of the food industry. This is primarily due to the fondness of baked products among the locals. According to the National Institute of Statistics and Geography, Mexico, the annual value of processed food exported from Mexico in 2017 was recorded to be USD 8.44 million. The same organization also talks about the rise in the number of establishments involved in the preparation of bakery products and tortillas in Mexico from 119530 in 2007 to 129650 in 2017. Thus, the transforming bakery sector in the country is likely to provide growth opportunities to many food preservative manufacturers, driving the market to a considerable extent.

Competitive Landscape

The market giants have been expanding their presence in the country by signing distribution and supplying contracts with the local distributors and suppliers of the market. Such expansion is the most preferred growth strategy followed by new product developments due to the rapid industrialization in the country, which is paving a way for the big companies to grab the potential market. The major players have an upper hand in the market due to their esteemed reputations in the global market. However, the domestic players are giving a tough competition by offering similar preservatives at comparatively lower prices.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.