The shift to consumption at home in the context of foodservice closures, home seclusion and the move to remote working and distance learning drove a strong rise in retail volume sales of processed meat, seafood and alternatives to meat in 2020. Confined to their homes due to the COVID-19 pandemic, consumers significantly increased the frequency of preparing meals at home, with meat and seafood being a staple ingredient of most traditional Mexican dishes.
In 2021, the economic outlook was not good. Measures imposed to limit the spread of COVID-19, inflationary pressures, and high rates of unemployment affected households’ disposable income during the year.
While COVID-19 has served to distract consumers from many of their prior concerns, there is still a growing interest in natural products without artificial ingredients. Indeed, to some extent, opportunities for such products have been bolstered by the fact that the pandemic has strengthened the health and wellness trend.
The general shift towards packaged processed meat, seafood and alternatives to meat products in the Mexican market has been driven by the expansion of refrigerated areas within major retailers. Over the forecast period, the opening of new retail outlets and investment in refrigerated areas are likely to continue to drive growth in the processed meat, seafood and alternatives to meat category.
Although sales of meat substitutes are still negligible in the Mexican market, this is expected to change over the forecast period as more products become available. There is a global trend towards more plant-based diets underpinned by rising concerns about health and animal welfare, as well as the impact of livestock farming on the environment.
More competition is expected in processed meat, seafood and alternatives to meat in Mexico as new players are likely to enter the market over the forecast period. More companies are expected to be attracted to the category by the shift from unpackaged to packaged products, which is being driven by major retailers.
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Processed Meat, Seafood and Alternatives to Meat
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