We expect household spending in Mexico to pick up in the coming quarters, as unemployment declines and consumers gradually adapt to new taxes that took effect on January 1. We forecast real private consumption growth to accelerate to 3.1% in 2014, up from 2.5% in 2013. Although the recently introduced tax on sugary drinks and the tax hike on junk food is likely to have a negative impact on the food and drink sector in Mexico in the short term, we maintain a favourable outlook for the domestic consumer, and declining unemployment and rising disposable income will ensure a robust expansion in the sector over the long term. Real private consumption growth will accelerate this year in Mexico as the impact of recent taxes on household spending fades.
Headline Industry Data (local currency)
- 2014 per capita food consumption = +8.6%; forecast 2014 to 2018 = +17.2%
- 2014 alcoholic drink sales = +7.8%; forecast 2014 to 2018 = +35.3%
- 2014 soft drink sales = +5.6%; forecast 2014 to 2018 = +24.7%
- 2014 mass grocery retail sales = +7.4%; forecast 2014 to 2018 = +31.9%
Spanning over 187 pages, “Mexico Food and Drink Report Q3 2014” report covering the SWOT, Industry Forecast, Market Overview, Competitive Landscape, Company Profile, Methodology.
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