Market Size of mexico foodservice Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 90.43 Billion |
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Market Size (2029) | USD 138.81 Billion |
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Largest Share by Foodservice Type | Quick Service Restaurants |
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CAGR (2024 - 2029) | 8.95 % |
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Fastest Growing by Foodservice Type | Cloud Kitchen |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Mexico Foodservice Market Analysis
The Mexico Foodservice Market size is estimated at 90.43 billion USD in 2024, and is expected to reach 138.81 billion USD by 2029, growing at a CAGR of 8.95% during the forecast period (2024-2029).
90.43 Billion
Market Size in 2024 (USD)
138.81 Billion
Market Size in 2029 (USD)
10.48 %
CAGR (2017-2023)
8.95 %
CAGR (2024-2029)
Largest Segment by Foodservice Type
56.96 %
value share, Quick Service Restaurants, 2023
The demand for convenient, affordable food options and product innovations based on trends among younger generations who are constantly on the go led to the market's growth.
Largest Segment by Outlet Type
57.25 %
value share, Independent Outlets, 2023
A rise in tourism and the increasing number of immigrants in Mexico led to independent restaurants serving a wide range of cuisines from all over the world.
Fastest-growing segment by Foodservice Type
13.31 %
Projected CAGR, Cloud Kitchen, 2024-2029
The rising demand for food delivery and the scalability offered by cloud kitchens have led to several investments, making it the fastest-growing segment in the Mexican market.
Fastest-growing segment by Outlet Type
9.75 %
Projected CAGR, Chained Outlets, 2024-2029
Chained restaurants focus on increasing the number of outlets, marketing, and advertising to increase customer footprint and boost their growth.
Leading Market Player
0.68 %
market share, Arcos Dorados Holdings Inc., 2022
The company is the world's largest McDonald's franchisee, and it operates over 2,200 McDonald's outlets in Latin America and the Caribbean, including 400 locations in Mexico.
Quick service restaurants are dominating the market due to their affordable price ranges
- Quick service restaurants held the largest market share in the Mexican foodservice market in 2022. The segment registered a CAGR of 9.19% by value during the study period. This is because fast food options are considered more affordable meal-purchasing options in Mexico. The average order value in Mexican quick service restaurants was USD 5.15, while the same value was USD 9.51 and USD 10.43 in cafes & bars and full service restaurant segments, respectively.
- A major challenge for the quick service restaurants segment in Mexico is the ban on fast-food sales to minors imposed by various state governments in the country. For instance, more than 50 jurisdictions in Mexico have imposed taxes on sugar-sweetened beverages during the past ten years, discouraging consumers from purchasing hazardous items. This strategy is aimed at and expected to stop 239,000 cases of obesity, almost 40% of which will occur in children. The states of Oaxaca and Tabasco passed restrictions on the sale of sugary bottled drinks and high-carbohydrate snacks in 2020, and many more states are expected to follow.
- The Mexican cloud kitchen market is projected to grow and register a CAGR of 13.41% by value during the forecast period. The market is expected to continue its rapid growth due to continual funding by venture capitalists, private equity firms, and angel investors toward the new entrants in the market. Unlike other markets in the region, the Mexican cloud kitchen market is highly fragmented, with the top 10 chains holding only around 5% share of the market. Therefore, chained cloud kitchens are projected to register a CAGR of 15.58% by value during the forecast period.
Understand The Key Trends Shaping This Market
