Mexico Plant Based Food and Beverages Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mexico Plant Based Food and Beverages Market Analysis
Mexico plant-based food and beverages market is projected to grow at a CAGR of 10.8% during the forecast period (2022 - 2027).
The COVID-19 pandemic had a favorable effect on Mexico's plant-based food and beverage market as consumers are opting for a vegan diet to reduce the risk factors of COVID-19's more serious effects. A plant-based diet is good for weight, energy metabolism, and overall inflammatory levels. In addition, consumer behavior is influenced by the WHO guidelines that recommend avoiding the consumption of sugar fat, and salt, and limiting red meat consumption to 1-2 times a week, and poultry to 2-3 times per week. They also suggest consuming less than 160g of meat daily to maintain digestive health.
Over the medium term, the market will primarily grow owing to the increasing vegetarian population. For instance, the data released by Vegconomist ( The vegan business magazine) in 2019 shows that among 130 million people living in Mexico, a startling 20% have eliminated animal-based food and beverages as a part of their vegan lifestyle, Further, the veganism trend is supported by the rising prevalence of chronic disease including diabetes, heart disease, and stroke, among others.
Furthermore, growing concern about the climate impacts due to meat production, food innovations from start-ups, and their initiative to promote the vegan diet are all contributing to the rapid growth of plant-based food and beverages in Mexico. For instance, In June 2021, Planterra Foods expanded its plant-based business operations in Mexico by introducing its plant-based offerings across foodservice channels and retail channels.
Mexico Plant Based Food and Beverages Market Trends
This section covers the major market trends shaping the Mexico Plant-Based Food & Beverages Market according to our research experts:
Rapid Expansion of Vegan Culture
Plant-based eating has been increasingly popular over the past few years in the country and holds the highest vegan population in Latin America. According to the study released in 2019 by Vegconomist, almost 20% of Mexicans are classified as vegetarians or vegans, indicating the widespread acceptance of a vegan diet. Additionally, Mexican cuisine was originally plant-based, which in turn allows chefs and eateries to inventively highlight their roots.
Furthermore, consumers are increasingly aware of the risk of premature death due to hypertension, obesity, excessive cholesterol, and saturated fats, which are primarily associated with the consumption of animal-based food and beverages, Therefore, people are increasingly choosing plant-based meat in place of conventional meat as former contains higher levels of nutrients like magnesium, folic acid, vitamin C, vitamin E, iron, and dietary fiber. Besides personal health, concerns for the environment, and animal welfare. are among the primary considerations for accepting veganism. In response to changing consumer perception, several companies have expanded their manufacturing facilities and distribution capabilities to ensure the optimum supply of plant-based food and beverages. For instance, in April 2021, Heartbeat Foods, a Mexican vegan food company launched its new e-commerce store, that allows consumers to purchase its plant-based milk via a subscription model.
New Product Launches and Celebrity Endorsement
The development of innovative products, such as plant-based milk, eggs, and meat, is acting as a growth-inducing factor. These products are high in essential nutrients and taste nearly identical to those derived from animals. Further, innovative plant-based food and beverage products are booming with the penetration of local entrepreneurs. Consumers' desire for variety, flexibility, and increased ethical awareness is fuelling the need to incorporate new vegan products. For instance, in September 2021, a new brand of vegan food called Somo was launched in Mexico, featuring a line of meal kits, sides, salsas, and chips. Other vegan food brands including Veganisimo, Butcher, and Benji have also launched a range of innovative products in Mexico during 2020-2022. Further, extensive promotional activities by celebrities and athletes encourage the consumption of vegetarian food. For instance, key Mexican celebrities support veganism through their social media platforms including Eugenio Derbez, Marianna Burelli, Juan Pablo Di Pace, and Marco Antonio Regil, among others, which in turn influences their fan followings to consume plant-based food and beverages.
Mexico Plant Based Food and Beverages Industry Overview
The Mexico plant-based food and beverages market is fragmented, with numerous international and domestic companies. Some of the major players in the market are Unilever Plc, JBS Foods, Danone SA, Heartbest Foods, and Nestle SA. among others. Key companies are focused on increased R&D and innovation along with the acquisition and partnerships to launch a new range of products, For instance, In July 2022, Plant-based food tech company NotCo signed an agreement with restaurant operator Alsea to distribute its NotBurger and NotChicken products throughout Mexico. Additionally, companies compete on a variety of aspects, such as product offerings, quality, taste, flavor, pricing, functionality, packaging, and marketing initiatives, to acquire a competitive advantage in the growing market.
Mexico Plant Based Food and Beverages Market Leaders
Danone SA
Nestle SA
Heartbest Foods
Unilever Plc
JBS Foods- Planterra Foods
*Disclaimer: Major Players sorted in no particular order
Mexico Plant Based Food and Beverages Market News
- In August 2022, NotCo and Starbucks Mexico announced the partnership. Starbucks Mexico Introduces New Plant-based Menu options Made with NotCo Plant-based Products.
- In October 2021, Heura, a company that produces plant-based meat, expanded its presence in Mexico and now sells its products in Walmart, City Market, Fresko, and La Comer. Heura is dedicated to offering Mexico four distinct SKUs that are healthier and more environmentally friendly.
- In June 2021, JBS Foods brand Planterra Foods expands into Mexico. The company announced a supply agreement with UNFI. Planterra aims to increase the market for its plant-based burgers, ground, and Mexican Seasoned ground beef products through a partnership with UNFI.
Mexico Plant Based Food and Beverages Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Meat Substitute
5.1.2 Dairy Alternative Beverages
5.1.3 Non Dairy Ice creams
5.1.4 Non Dairy Cheese
5.1.5 Non Dairy Yogurt
5.1.6 Non Dairy Spreads
5.1.7 Other Plant-based Products
5.2 By Distibution Channel
5.2.1 Supermarket/ Hypermarket
5.2.2 Convenience Stores
5.2.3 Online Retail stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Unilever Plc
6.3.2 JBS Foods- Planterra Foods
6.3.3 Danone SA
6.3.4 NotCo
6.3.5 Fazenda Futuro
6.3.6 Conagra Brands Inc
6.3.7 Beyond Meat Inc
6.3.8 Heura
6.3.9 Heartbest Foods
6.3.10 Nestle SA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Mexico Plant Based Food and Beverages Industry Segmentation
Plant-based food and beverages are produced from various plant sources such as fruits, vegetables, nuts, oils, whole grains, and legumes, among others. Being plant-based these products contain no components derived from animals and use only plant-sourced ingredients. Mexico plant-based food and beverages market is segmented by product type and distribution channel. By product type, the market is segmented into meat substitutes, dairy alternative beverages, non-dairy ice cream, non-dairy cheese, non-dairy yogurt, non-dairy spreads, and other plant-based products that include non-dairy chocolates, milk powders, etc. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience/grocery stores, online retail stores, and other distribution channels. The report offers market size and forecasts in value (USD million) for the above segments.
| By Type | |
| Meat Substitute | |
| Dairy Alternative Beverages | |
| Non Dairy Ice creams | |
| Non Dairy Cheese | |
| Non Dairy Yogurt | |
| Non Dairy Spreads | |
| Other Plant-based Products |
| By Distibution Channel | |
| Supermarket/ Hypermarket | |
| Convenience Stores | |
| Online Retail stores | |
| Other Distribution Channels |
Mexico Plant Based Food and Beverages Market Research FAQs
What is the current Mexico Plant-Based Food and Beverages Market size?
The Mexico Plant-Based Food and Beverages Market is projected to register a CAGR of 10.80% during the forecast period (2024-2029)
Who are the key players in Mexico Plant-Based Food and Beverages Market?
Danone SA, Nestle SA, Heartbest Foods, Unilever Plc and JBS Foods- Planterra Foods are the major companies operating in the Mexico Plant-Based Food and Beverages Market.
What years does this Mexico Plant-Based Food and Beverages Market cover?
The report covers the Mexico Plant-Based Food and Beverages Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Plant-Based Food and Beverages Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Plant Based Food and Beverage Industry Report
Statistics for the 2024 Mexico Plant Based Food and Beverage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Plant Based Food and Beverage analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
