With a population of nearly 130 million, a rich cultural history and great diversity, favorable geography and abundant natural resources, Mexico is among the fifteen largest economies in the world and the second-largest in Latin America. The country has strong macroeconomic institutions and is open to trade.
During 2020, the economy contracted by 8.3 percent, with a sharp drop in the first half of the year, due to supply and demand shocks stemming from the COVID-19 pandemic. However, the agri-food Gross Domestic Product (GDP) held up and declined by only 0.4% during the same period.
Simultaneously, the pandemic has not only affected the way people relate to each other, live and work, but it has deeply influenced the way people spend, consume, and buy products. Consumer habits towards food consumption have also been influenced by this global condition.
Furthermore, has catalyzed existing trends and opened doors for new solutions in light of global challenges. Mexico is no exception. This addendum reflects a strong transition in consumer habits, new delivery options, changes in retailing, food service, and growth indicators in niche segments in several food categories in Mexico.
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