Mexico Lime Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.89 Billion |
| Market Size (2029) | USD 3.45 Billion |
| CAGR (2024 - 2029) | 3.61 % |
Mexico Lime Market Analysis
The Mexico Lime Market size is estimated at USD 2.89 billion in 2024, and is expected to reach USD 3.45 billion by 2029, at a CAGR of 3.61% during the forecast period (2024-2029).
- Lime is a commonly used ingredient in Mexican cuisine and is an essential component of many popular dishes such as guacamole, ceviche, and salsa. Additionally, lime juice is a popular ingredient in beverages such as margaritas and other cocktails. This surge in demand for lime products has led to the expansion of the lime fruit processing industry in Mexico. In recent years, there has also been an increasing trend toward the use of lime in non-food applications, such as cosmetics and cleaning products. This may also be contributing to the growing demand for lime fruit processing in Mexico. Therefore, the demand for lime fruit processing is anticipated to grow in Mexico as the country's cuisine and economy continue to develop.
- Beyond their cultural significance, limes constitute a profitable industry for Mexico. As reported by the United States Department of Agriculture, Mexico is the world's second-largest lime producer, contributing 29% to global production. The nation's extensive lime production is crucial to international trade. Mexico holds the second position in the global exports, capturing an 18.8% share of the market.
- In 2023, USDA data reveals a 7% drop in lime consumption compared to the previous year, largely due to anticipated lower product availability. Key factors contributing to this decline include the rising affordability challenges of limes and other citrus fruits. In the food service sector, where limes play a crucial role in both food and beverages, pricing poses a significant challenge. To manage these costs, establishments either reduce their lime consumption or pass the increased costs onto customers. Additionally, Mexico has witnessed pronounced domestic price volatility for limes, primarily driven by an increase in disease incidences in producing areas, leading to slight constraints in consumption.
Mexico Lime Market Trends
Slight Decline in Production for 2023
- Due to the effects of Citrus Huanglongbing (HLB), previously termed citrus greening disease, which is acknowledged as one of the most devastating ailments for citrus and lime producers in Mexico, lime growers in Mexico are expecting a slight year-on-year dip in production volume. HLB has caused harm to both productive and non-productive trees. However, production is anticipated to rebound, driven by lucrative export opportunities stemming from high international market demand.
- In 2022, Michoacan led with 29 percent of Mexico's total planted lime area, followed by Veracruz at 24 percent, and both Oaxaca and Colima, each contributing 10 percent. Mexico's lime production revolves around three main varieties. While 28 states in Mexico participate in lime production, six states - Michoac谩n, Veracruz, Oaxaca, Colima, Tamaulipas, and Jalisco - each surpassed the 100,000 metric ton mark.
- According to the USDA, in 2023, the production of limes in the country was observed at 2.9 Million metric tons. Veracruz produced over 52 percent of the country's Persian Lime output, solidifying its position as the leading producer. The Mexican lime, commonly referred to as Key lime is grown nationwide but is mainly sold within Mexico. This lime plays a pivotal role in Mexican culinary traditions. In 2022, Michoacan was responsible for producing over 60 percent of the country's sour lime output. Meanwhile, the Italian lime, recognized as yellow lemons by U.S. consumers, boasts high quality and distinct characteristics, making it a strong contender in the global market.
Rising Demand from Global Markets
- As of 2023, Mexico solidified its status as the globe's second-largest producer and exporter of lemons and limes, as reported by the Ministry of Agriculture and Rural Development. Due to a steady rise in cultivation, a strong phytosanitary reputation, and diligent efforts from producers, Mexico successfully catered to robust domestic and international demand.
- According to the data from the International Trade Center, Mexico's lime exports were valued at over USD 722 million. The United States, the top lime exporter globally, stands as the main purchaser of limes from Mexico. Data from the United States Department of Agriculture (USDA) reveals that over 95% of limes exported from Mexico are destined for the US, solidifying its position as the world's largest lime trade flow. In addition to the US, limes from Mexico are also sold to buyers in the Netherlands, the UK, France, Canada, Japan, Belgium, Germany, Spain, Italy, and Ireland.
- In the United States, limes play a crucial role, in enhancing the flavor of various foods and beverages. Beyond culinary uses, limes are also processed into extracts and essential oils, which find applications in perfumes, cleaning products, and other everyday items. The U.S. predominantly imports and consumes two lime varieties: Key limes and Persian limes (the latter being a type of Tahitian lime). Mexico is the primary cultivator of these Key and Persian lime varieties. Although both varieties are exported, the focus for Persian limes is primarily on the U.S. market.
Mexico Lime Market News
- January 2024: Data from Mexico's Ministry of Agriculture and Rural Development reveals that the nation has solidified its status as the globe's second-largest producer and exporter of lemons and limes. With a commanding 20.5% share of the worldwide market, Mexico exported 716,163 tons of these citrus fruits, raking in a revenue of USD 838 million.
- October 2022: SiCar Farms, one of Mexico's largest lime suppliers, has acquired 4,000 acres in the southeast region of Mexico. The company is constructing a state-of-the-art packinghouse facility on this land. This strategic investment aims to meet consumer demand consistently throughout the year, with a particular focus on the winter season.
Mexico Limes Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Processing Industries Use
4.2.2 Growing Demand from the HoReCa Sector
4.2.3 Increasing Government Initiatives
4.3 Market Restraints
4.3.1 Production Vulnerable to Specific Pests and Diseases
4.3.2 Domestic Market Experiences Significant Price Volatility
5. MARKET SEGMENTATION
5.1 Production Analysis (Volume)
5.2 Consumption Analysis (Value and Volume)
5.3 Import Analysis (Value and Volume)
5.4 Export Analysis (Value and Volume)
5.5 Price Trend Analysis
6. REGIONAL ANALYSIS
6.1 PESTLE Analysis
6.2 Value Chain Analysis
6.3 Government Policies
7. COMPETITIVE ANALYSIS
7.1 Distribution Network and Retail Analysis
7.2 List/Profile of Key Players
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Lime Industry Segmentation
Lime (citrus) fruit is an excellent source of vitamin C. The health benefits of these fruits also rest in their fiber and phytochemicals. The lime peels are rich in limonene phytochemicals. The Mexico Lime Market Covers Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The report offers market sizing in terms of Value (USD ) and Volume (Metric tons).
Mexico Limes Market Research FAQs
How big is the Mexico Lime Market?
The Mexico Lime Market size is expected to reach USD 2.89 billion in 2024 and grow at a CAGR of 3.61% to reach USD 3.45 billion by 2029.
What is the current Mexico Lime Market size?
In 2024, the Mexico Lime Market size is expected to reach USD 2.89 billion.
What years does this Mexico Lime Market cover, and what was the market size in 2023?
In 2023, the Mexico Lime Market size was estimated at USD 2.79 billion. The report covers the Mexico Lime Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Lime Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Lime Industry Report
Statistics for the 2024 Mexico Lime market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Mexico Lime analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
