Processed Meat and Seafood in Mexico

PROSPECTS

Food scandal around canned tuna momentarily limits sales

In March 2019 the Federal Attorney's Office of the Consumer (Procuraduría Federal del Consumidor – PROFECO) released a study of canned tuna brands which revealed that 18 out of 57 contained soy. The brands ranged from 1% soy to 62%.

Increasing consumption to be driven by new brands and greater refrigerated space in modern grocery retailers

Increased consumption of processed meat and seafood is expected over the forecast period. This will likely be the result of the entrance of new brands and companies to the category, leading to wider availability of products.

Convenience expected to drive growth

Over the forecast period, product innovations are also likely to be observed in packaging, as companies try to deliver products that retain their freshness and flavour over longer periods of time. By offering products that can be stored for longer, manufacturers can enable consumers to reduce the frequency of their visits to markets or grocery retailers.

COMPETITIVE LANDSCAPE

Sigma Alimentos leads processed meat and seafood

In 2019, 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.

Affordability key to ongoing growth

The affordability of chilled processed meat when compared to other types of protein, such as fresh meat or seafood, remains the most valuable trait for consumers. The majority of Mexican consumers remain price sensitive and look to purchase the less expensive types of meat and seafood.

New brands and products support growth

New brands and products entered chilled and frozen meat and seafood over the review period, driving growth of the category as a whole. Examples of new products include frozen smoked tuna by the Dolores brand, the La Sanitaria (Alimentos La Sanitaria) brand offering frozen octopus, frozen mussels, and frozen lobster tails amongst other seafood, and the SuKarne brand, which expanded its product portfolio by offering packaged ground beef.

Files are delivered directly into your account within a few minutes of purchase.