Mexican Restaurants in the US - Industry Market Research Report
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.
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