Content of the reportProduct Synopsis
This report provides a concise overview of the Ice Cream market in Mexico. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends that will drive its evolution and the leading companies within the market, allowing you to plan effectively for the future.
Introduction and Landscape
Why was the report written?
This overview of the consumer and market dynamics of the Mexican Ice Cream sector allows new entrants and established companies to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.
What is the current market landscape and what is changing?
Mexico's growing base of young and middle class customers will drive strong future growth in Ice Cream categories. However, the devaluation of the Mexican Peso in 2009 caused a substantial drop in the value of the Ice Cream sector measured in US dollars, even though volumes increased. Improving economic conditions will drive growth in the sector's value, though some categories have recovered faster than others.
What are the key drivers behind recent market changes?
A large, young, and rapidly growing population and rising living standards make Mexico a key emerging market for consumer packaged goods companies. However, the rising price of staple foods is damaging the ability of the country's young middle class to purchase packaged goods. Meanwhile, convenience is of growing importance in Mexican food culture, as consumers look for quick and easy meals as a result of long working hours, the loss of women at home to cook meals as they enter the workforce, and consumers replacing traditional meal times with other leisure activities.
What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the Mexican Ice Cream sector. This allows for the rapid identification of key growth opportunities across three Ice Cream categories and their packaging.
Key Features and Benefits
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Ice Cream sector.
Key growth categories are highlighted by analyzing the market dynamics of three Ice Cream categories.
Market shares are provided for the leading brands across Impulse and Take-home Ice Cream categories.
An overview of packaging trends in the Mexican Ice Cream sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Key Market Issues
Food and Grocery sales in Mexico will increase across all channels; however, the majority of this growth will occur in modern retail chains as they expand beyond core urban centers and into smaller towns. The Food and Grocery market will consolidate as consumers continue to be attracted by the “all under one roof” offer and price advantage held by retailers such as Walmart and Soriana.
Mexican consumers are increasingly looking for quick and easy meals. This is a result of long working hours, the loss of women at home to cook meals as they enter the workforce (over 40% of Mexican women are now economically active, as opposed to 32% in 1995), and consumers replacing traditional meal times with other leisure activities.
Impulse Ice Cream will record the fastest growth rates in Mexico's Ice Cream sector. This rapid growth is driven by the growing adoption of Ice Cream products by the younger generation in the country.
Evolving consumption habits will influence the demand across all Ice Cream categories. However, the health-concerns of growing obesity will limit future growth of the Ice Cream market, but will result in the growing demand for reduced-fat and reduced or “no sugar” ice cream versions.
Strong macroeconomic growth is creating a large middle class with considerable buying power, particularly in urban centers such as Mexico City, Guadalajara, and Monterrey. Meanwhile, over 40 million Mexicans are less than 20 years old; they have more disposable income than their parents did at their age, and have greater access to national retail chains.
The fragmented nature of Mexican retail, where the five leading Food and Grocery retailers account for less than half of the market, limits private label penetration in most sectors, including Ice Cream. Furthermore, retailers in Mexico haven't pursued private label programs as aggressively as retailers in other regions. Private label accounts for less than 5% market share in both Impulse and Take-home Ice Cream categories.
The Ice Cream market in Mexico is facing competition from substitute products such as frozen yogurt and cheese cake. The consumption of these substitutes is expected to grow in the coming period as they are positioned to benefit from the growing health and wellness trend.
The growing consumption of Ice Cream products in Mexico means demand for all pack materials will increase between 2012 and 2017. However, demand for Flexible packaging will rise particularly quickly as a result of the steadily rising consumption of Impulse Ice Cream products.
Impulse Ice Cream accounted for more than 50% of the total number of packs used in Mexico's Ice Cream sector in 2012, driving significant demand for Flexible Bags/Sachets.
Companies MentionedWall's, Nestle, Dreyer's, Nutrisa, Haagen-dazs, Walmart, Soriana ,Oxxo ,Chedraui ,
Table of ContentsCountry context
- A young, relatively affluent group is growing in Mexico
- Food and Grocery sales are concentrated in national chains
- Food and Drinks Specialists will account for the largest share of sales in the Mexican Ice Cream market
- Increase in urban and busy consumers looking for convenience
- Relaxation and enjoyment drive consumption in the Mexican Ice Cream sector
- Mexico's young consumers offer a key opportunity, while adults' tastes are evolving
- The Mexican Ice Cream market will register strong growth as exchange rates stabilize
- The Impulse Ice Cream category will drive growth
- Growing proportion of Impulse Ice Cream
- The value of Ice Cream categories are recovering from the 2009 currency devaluation
Brands and Private Labels
- Key brands by category Lower penetration of private label products in Mexican Ice Cream market
- Key brands by category
- Growing demand for Impulse Ice Cream will drive the growth for Flexible Packaging Bags/Sachets
- Rising consumption of Ice Cream products will drive changes in packaging demand by 2017
Future Outlook- four key trends in Mexico's Ice Cream sector
- Young, affluent Mexicans will drive growth in Ice Cream
- Consumers will continue to be more health conscious
- Consumers look to relax and enjoy
- Threat from substitute products such as Frozen Yogurt
Data Appendix and Summary Methodology
Table of FiguresNA
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