US confectionery Mars Inc. invests US$ 20 million to keep ahead of demand
U.S.-based manufacturer of confectionery Mars Incorporated plans to invest around US$ 20 million in Mexico over the next three to four years to increase its production capacity in order to keep ahead of demand.
Gabriel Fernandez, director of the firm in Mexico, said in an interview with Notimex that the local confectionery market grows between 8% and 9% a year while the company reports increases well above that percentage, which has served to position itself as a leader in the chocolate segment and second in chewing gum.
According to Euromonitor, a consultancy firm in market research, Mars’ share in the national chocolate market was of 22% in 2017; followed by Nestlé with 21.2% and Ferrero with 17%.
Currently, the company has two plants in the state of Nuevo Leon -one each for confectionery and chocolate bars-, as well as a Premium chocolate factory in Toluca, in addition to the pet food plants in Queretaro and Chapala, Jalisco
“We have seen that we need at least US$ 5 million per year, over the next three or four years, to meet the national demand. We are talking about US$ 20 million in three or four years,” said the official.