Mexico Confectionery Market Report and Forecast 2024-2032

Mexico Confectionery Market Outlook

The Mexico confectionery market size is projected to grow at a CAGR of 5.6% between 2024 and 2032. The market is being driven by the rising demand for healthy and indulgent confectioneries and the growing trend of sustainability.

Key Takeaways

• Seasonal chocolates are expected to gain increasing popularity over the forecast period.

• An average Mexican consumes 5.8 kg of confectionery annually while spending USD 28.

• The demand for healthy yet indulgent confectionery is expected to increase in Mexico in the forecast period.

One of the key factors aiding the Mexico confectionery market growth is the growing trend of snacking. Customers are increasingly preferring indulgent snacks made with high-quality and healthy ingredients. Moreover, in the forecast period, the demand for artisanal and premium confectionery in Mexico is expected to rise amid the growing focus on quality.

Chocolates dominate the Mexico confectionery market share. Chocolates are consumed by Mexicans on a wide variety of occasions, including Valentine's Day, birthdays, and other events. Besides, the market is witnessing a shift towards indulgent yet healthy and low-sugar chocolates that can provide functional benefits.

The use of sustainable ingredients and packaging materials has become increasingly important in the country. This can be attributed to the growing trend of sustainability, the rising volume of waste and plastic pollution, and a surge in environmental consciousness. The growing focus on transparency and ethical sourcing is further propelling the Mexico confectionery market growth.

Retail stores account for a substantial portion of the sale of confectionery items in Mexico. However, with increasing internet accessibility and smartphone penetration, online distribution channels are expected to emerge as a leading channel for purchases by consumers.

Innovations in flavours and textures of confectioneries are expected to favour the Mexico confectionery market development in the forecast period. The rising demand for better-for-you confectioneries, new product development by key players, and the growing focus on health and wellness are anticipated to further revolutionise the Mexico market in the coming years.

Market Segmentation

Mexico Confectionery Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments

Market Breakup by Product Type

• Chocolate
  • White
  • Dark
  • Milk

• Sugar Confectionery
  • Hard-Boiled Sweets
  • Caramels and Toffees
  • Mint and Gums

• Snack Bars

• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Speciality Stores

• Online

• Others

Market Breakup by Region

• Baja California

• Northern Mexico

• The Bajío

• Central Mexico

• Pacific Coast

• Yucatan Peninsula

The key Mexico confectionery market players are Nestlé S.A, Ferrero International S.A., Mondelez International Inc., Hershey Co., Mars, Incorporated, Canels Group, Grupo Industrial Sweets SA de CV, Dulcerama de México, VIBERSA SA DE CV, and Chocolatera Ibarra, S.A.P.I. de C.V., among others.

Key Highlights of the Report