Market Size of Mexico Plant-Based Food and Beverages Industry
| 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.
