Baked Goods in Mexico

PROSPECTS

Tortillas set to remain the most popular staple

Mexican cuisine is rich and varied – with a wide range of dishes that mix different types of sauces and proteins. However, tortillas are used in most dishes, either as part of the dish or as a complement.

Unpackaged products to restrain the growth of packaged baked goods

In 2018, sales of artisanal bread (unpackaged) were far higher than packaged alternatives. There is a wide range of products within artisanal bread, and there are many options that offer lower prices when compared with packaged baked goods.

Packaged products compete by offering convenience

Over the forecast period, some consumers will prefer packaged baked goods over fresh products because they last longer. This is a convenient attribute for consumers who prefer to space out their visits to stores.

COMPETITIVE LANDSCAPE

High fragmentation, although a strong leader in packaged baked goods

Although baked goods is a very competitive category when it comes to artisanal bakeries, the offer of packaged baked goods is led by a strong competitor. In 2018, Grupo Bimbo was the indisputable leader in packaged baked goods.

Grupo Bimbo’s efforts to boost its sales

Grupo Bimbo has one of the biggest distribution networks in the country, reaching many places that are out of the scope of other competitors, ensuring high sales. The company also made strong efforts over the review period to reformulate its products, offering higher-quality ingredients and healthier product alternatives, which is likely to result in a better performance over the forecast period.

The offer of healthier products will drive growth

Over the forecast period, growing health awareness amongst consumers is likely to inspire consumers to pursue healthier lifestyles. This is expected to encourage companies to develop healthier alternatives within baked goods, focusing on leaner recipes and added benefits.

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