Report Highlights:
Mexico offers strong opportunities to the US processed food ingredient supplier. Imports to the sector grew 23 percent from 2001 to 2003 and the US has the largest important share in every major category of the sector including baked goods, snack foods, meat and dairy. The Mexican food processing industry is estimated to have produced almost $45 billion worth of goods in 2004.
Section I. Market Summary
Mexico offers strong opportunities for suppliers to the processed foods sector.The demand for processed foods is increasing and the industry is keeping pace; the sector grew by an average 9.2 percent annually from 2000 to 2003.US suppliers dominate Mexican imports of raw materials for the sector and are well positioned to capitalize on increased demand for high quality food ingredients. According to the Mexican Secretary of Commerce Business Registry (SIEM), there are 8,111 food manufacturing companies processing a wide range of products including red meat, poultry meat and fish products, dairy products, baked goods, snack foods, prepared fruit and vegetables, oilseed products, beverages, specialized food ingredients and prepared meals.The industry produced $39.8 billion worth of goods in 2003 and the sector is expected to produce $44.9 billion in 2004.Trade statistics also provide a favorable picture for US suppliers to the food-processing sector.Mexico imports from the United States six times as much raw material[1] for the industry as it exports.Imports grew 23 percent while exports only ten percent between 2001 and 2003. The figures indicate a strong and growing dependence upon foreign suppliers to the industry.