Mexican Restaurants in the US - Industry Market Research Report
Description
Mexican Restaurants in the US
The Mexican Restaurants industry has thrived over the past five years in response to several favorable trends that have increased the consumer base for Mexican cuisine. Mexican-style food has entered the mainstream American diet, primarily due to a growing Hispanic immigrant population that has increased both demand and supply of Mexican-style food. Additionally, domestic adaptations of Mexican cuisines, such as Tex-Mex, have grown in popularity, supported by major chains such as Taco Bell Corporation, which have a significant national presence. Despite strong annualized growth, industry revenue fell double digits in 2020 amid dining room closures during the COVID-19 pandemic. However, industry revenue has boomed as businesses were permitted to reopen and consumers flocked to dine out. Overall, industry revenue grew an annualized 2.4% to $80.3 billion over the past five years, including growth of 0.8% in 2023 alone.
This industry is composed of restaurants that primarily serve Mexican-style, including Tex-Mex, food to patrons. It encompasses single-location, chain and franchised enterprises, as well as full-service and fast-food operators. These restaurants also sell alcoholic and other beverages. However, street and food truck vendors are excluded from the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
The Mexican Restaurants industry has thrived over the past five years in response to several favorable trends that have increased the consumer base for Mexican cuisine. Mexican-style food has entered the mainstream American diet, primarily due to a growing Hispanic immigrant population that has increased both demand and supply of Mexican-style food. Additionally, domestic adaptations of Mexican cuisines, such as Tex-Mex, have grown in popularity, supported by major chains such as Taco Bell Corporation, which have a significant national presence. Despite strong annualized growth, industry revenue fell double digits in 2020 amid dining room closures during the COVID-19 pandemic. However, industry revenue has boomed as businesses were permitted to reopen and consumers flocked to dine out. Overall, industry revenue grew an annualized 2.4% to $80.3 billion over the past five years, including growth of 0.8% in 2023 alone.
This industry is composed of restaurants that primarily serve Mexican-style, including Tex-Mex, food to patrons. It encompasses single-location, chain and franchised enterprises, as well as full-service and fast-food operators. These restaurants also sell alcoholic and other beverages. However, street and food truck vendors are excluded from the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
39 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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