Processed Meat and Seafood in Mexico

PROSPECTS

The shift towards packaged products will drive growth

Chilled processed meat is expected to see dynamic growth over the forecast period, as retailers encourage a shift towards pre-packaged products. In 2018, there were still many places where consumers could order chilled meat products by volume.

Packaging innovations are expected

Processed meat and seafood is growing due to the convenience these products offer in terms of cooking time and storage. By offering products that can be stored for longer, consumers can reduce the frequency of visits to markets or grocery retailers.

Seafood accounts for the highest volume sales, followed by red meat

Processed red meat was more popular than processed poultry in all formats in 2018 – shelf stable, chilled and frozen – in both value and volume terms. Within processed red meat, pork was the most popular meat within all formats.

COMPETITIVE LANDSCAPE

Sigma Alimentos leads processed meat and seafood

In 2018, processed meat and seafood was led by Sigma Alimentos in value terms. The company offers a wide brand and product portfolio which includes chilled processed red meat, chilled processed poultry and frozen processed poultry.

The growing offer of ready meals may pose a major challenge

Ready meals observed dynamic growth over the review period, with the entry of new competitors and the constant launch of new products. Many of these companies are leaders in sales of processed meat and seafood, which have added value to their products by offering more sophisticated alternatives to consumers.

Promotion and advertising will remain key drivers of growth

Over the forecast period, brands are expected to maintain an important focus on the promotion and advertising of their products. Consumers are often looking for better prices, and they usually do not mind switching between brands.

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