Mexico’s dairy food market to register 4% growth in 2012-2017
The dairy food market in Mexico is expected to grow at a higher CAGR of 4.3% during 2012-2017 owing…The dairy food market in Mexico is expected to grow at a higher CAGR of 4.3% during 2012-2017 owing to slower per-capita consumption of dairy products, especially milk says a report by Canadean Food.
According to the report titled, "Market Focus: Trends and Developments in the Dairy Food Sector in Mexico", the market grew steadily at a CAGR of 2.9% during 2007-2012, driven by growing disposable income and the development of new products such as drinkable yogurts.
Hypermarkets and supermarkets are the leading retailers of food in the Latin American country, accounting for 35% of food retails sales, followed by food and drink specialists, and convenience stores with 31% share each.
In contrast, convenience stores are more important in dairy food distribution, with a 44.4% share of retail sales in the country in 2012, while food and drinks specialists, and hypermarkets and supermarkets followed with 27.5% and 24.9%, respectively.
Growing young and urban population is expected to drive the expansion of modern retail chains in the country, thereby increasing the importance of hypermarkets and supermarkets, and convenience stores.