The economic impact of measures aimed at limiting the spread of COVID-19 had a detrimental impact on sales of nuts in the Mexican market in 2020. Nuts in general are perceived to be healthy ingredients and are often added to salads or consumed as snacks.
The closure of foodservice channels due to COVID-19 and the fact that even when outlets such as bars and restaurants were allowed to open they had to operate under significant restrictions and reduced capacities had a considerable impact on total nuts volumes in 2020. The dramatic decline in inbound tourism due to restrictions on international travel and consumer concerns about exposure to the COVID-19 virus also had a significant negative impact on sales during the year.
Nuts is expected to return to total volume growth in 2021 as foodservice outlets reopen and restrictions are eased. However, the category is not expected to reach the level of total volume sales seen prior to the outbreak of COVID-19 until 2024, as its recovery is constrained by the challenging economic conditions resulting from the pandemic.
During the forecast period, fresh nuts will face increasing competition from packaged processed alternatives. Processed nuts products are expected to build a growing presence in the market at the expense of unprocessed nuts, as more companies explore the potential of different processed snacks.
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Understand the latest market trends and future growth opportunities for the Nuts industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Nuts research and analysis database.
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