Rise in Global Consumption Helped Tortilla Market enjoy a YoY Growth of 3.4% in 2022 to Reach Sales of USD 26.39 Bn and is Estimated to Cross Revenue of US$ 37.1 Bn by 2032 – Future Market Insights, Inc.
East Asia holds around 4.7% of the total Tortilla revenue share. US Tortilla Market is projected to grow at a CAGR of around 2.9% over the next ten years. The major players involved in the Tortilla market are Grupo Bimbo SAB de CV, General Mills, Aranda’s, Tortilla Company Inc., Ole Mexican Foods Inc., Easy Foods Inc.
NEWARK, Del, Nov. 11, 2022 (GLOBE NEWSWIRE) — The global Tortilla Market stands at US$ 26.39 Bn as of now and is expected to reach US$ 37.02 Bn by the year 2032 at a CAGR of 3.4% between 2022 and 2032.
Tortilla could be referred to as an unleavened, thin flatbread generally used in Mexican cuisine for making enchiladas, burritos, and tacos. The tortillas that are manufactured from wheat or corn are looked upon as being rich in minerals, vitamins, and protein. They have also turned out to be a staple food as far as Hispanic community is concerned. Demand for tortilla is growing in developing as well as developed nations due to the nutritional advantages and rising concern about being health-conscious.
An interesting part is that tortillas are acting as a good replacement to white sandwich bread in several regions of the world, as they contain ingredients that are a healthy alternative to bread (bread constitutes refined flour, which does not go well with the gut).
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Corn is high in proteins, thereby helping in lowering risk of the ailments caused due to deficiency of proteins. Tortilla chips are holding the largest market share. Though they are made out of yellow corn, red, blue, or white maize could also be used to make them. Certain participants use monosodium glutamate, food coloring, sugar, and wheat for making tortilla.
Tortilla works well even without any sort of preservatives. This renders it an ideal product in terms of transportation as well.
At the same time, the fact that low-income countries are hesitant regarding usage of tortilla can’t be ignored. Multinational cuisines are yet to make an entry to these regions. The issue that prevails is that these economies are onto making the two ends meet. These priorities actually compel them to view incorporation of tortilla as a lop-sided priority. Also, the social media channels over here are not so active to the extent of apprising the population about trying out something new with respect to foodstuff. Awareness campaigns need to be organized to find tortilla well in the new arena.
Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Tortilla Market’. It has its team of analysts and consultants to conduct this extensive research. Both – macros and micros have been worked upon.
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Key Takeaways from Tortilla Market
- North America holds the largest market share due to the ever-increasing Latin and Hispanic population all across the US. It is a known fact that tortilla is inevitable in case of Mexican dishes. The US food trucks are more into using taco seeds. Food bloggers are adding to the awareness about consumption of taco shells.
- LATAM is dominated by Brazil with Argentina coming in second. The consumers’ buying behavior is strongly influenced by social media in these regions.
- Coming to the Asia-Pacific, India is expected to grow at the fastest rate with the youth opting for fast-made food items. Plus, India is witnessing growth in cross-cultural cuisine consumption.
Competitive Landscape
- Old El Paso (one of the brands of General Mills), does produce a chain of gourmet taco shell products popular all across the US.
- Frito-Lay, in July 2022, planned investment worth ~US$ 200 Mn for manufacturing snacks.
- B&G Foods, Inc., in 2020, did raise brand line-up with cauliflower-infused taco shells, flour tortillas, and trio comprising street taco-inspired sauces.
“The basic advantage that tortillas could be taken uncooked as well as cooked is expected to work wonders for tortilla market”, says and analyst from Future Market Insights.
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What is the report revolving around?
- The research study is based on product type (Toastadas, Taco shells, Corn Tortilla, Flour Tortilla, and Tortilla Chips), by source (corn and wheat), by processing type (fresh and frozen), by distribution channel (online, offline, supermarkets, convenience stores, and others).
- With negligible fats used in preparing tortilla, the global tortilla market is likely to grow on a splendid count going forward.
Market Segments Covered in Tortilla Industry Analysis
Product Type:
- Tostadas
- Taco Shells
- Corn Tortilla
- Flour Tortilla
- Tortilla Chips
Source:
- Corn
- Wheat
Processing Type:
- Fresh
- Frozen
Distribution Channel:
- Online
- Offline
- Supermarkets
- Convenience Stores
- Others
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
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Table of Content
1. Market Overview
1.1. Market Coverage / Taxonomy
1.2. Market Definition / Scope / Limitations
2. The Massive Impact of the Crisis
2.1. Global Tortilla Market Forecast Scenario Comparison of Annual Growth Rates for short term (2022-2026) and Long Term (2027-2032)
2.2. Key Factors Impacting the Market
Note: Market Assessment shall be Provided for Likely Scenario
3. Market Background
3.1. Drivers
3.2. Restraints
3.3. Opportunity
3.4. Market Trends By Region
3.5. Product Launches
3.6. Product Claims & Nutritional Information Scan by Buyers
3.7. Macro-Economic Factors
3.8. Forecast Factors – Relevance & Impact
3.9. Consumers Survey Analysis
4. Key Regulations
4.1. Distribution Channel & Labelling Regulations
4.2. Certifications and Certifying Agency Overview
4.3. Import/Export Policies
Explore wide-ranging Coverage of FMI’s Food and Beverage Market Insights Landscape:
Frozen Tortilla Market Share: The global frozen tortilla market is expected to reach market valuation of US$ 7.8 Bn by 2022, accelerating at a CAGR of 5.07% between 2022 and 2032, surpassing US$ 12.9 Bn by 2032.
Gluten Free Tortilla Market Size: The global gluten free tortillas market is expected to reach market valuation of US$ 6.3 Bn by the year 2022, accelerating with a CAGR of 6.4% by 2022-2032, to reach a value of US$ 11.8Bn by 2032.
Zero Calorie Chips Market Analysis: The global zero calorie chips market size is estimated to be valued at US$ 1.97 Bn in 2022 and it is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2032, touching a valuation of US$ 3.77 Bn by 2032.
Savory Snacks Market Demand: Savory Snacks market is expected to grow at a CAGR of 4.1%. The market value projected to increase is from USD 274.9 Bn in 2022 to USD 410.9 Bn by 2032.
Ready-to-Eat Food Market Forecast: The global ready to eat food market is estimated to have a total value of USD 1,80,000 Mn in the year 2022 and is expected to have a robust growth while registering a CAGR (compound annual growth rate of 7.7% and reaching a total value of USD 3,77,945.81 Mn by the year 2032.
Convenience Food Market Growth: The global demand for convenience food is anticipated to rise at a CAGR of 7%. The market revenue is likely to be valued at US$ 552.8 Million in 2022, and exhibit a revenue growth of US$ 1,086.425 Million by 2032.
Pesticide Detection Market Size: The global pesticide detection market expects a CAGR of 7.4% due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 3,763.3 Mn by 2032, up from US$ 1,843 Mn in 2022.
Ready To Use Supplementary Food Market Share: The market for ready to use supplementary food products is projected to grow at a robust CAGR of 9.9% between 2022 and 2032, totaling around US$ 1,646.1 Million by the end of 2032.
Vegan Drink Mixes Market Demand: The global vegan drink mixes market is expected to grow at a CAGR of 6.1%. The market is projected to be valued at US$ 12,145.5 Mn in 2022 and reach a valuation of US$ 21,956.8 Mn by the end of 2032.
Premixed Cocktail Shots Market Analysis: Global premixed cocktail shots market demand is anticipated to be valued at US$ 3,708 Million in 2022, forecast a CAGR of 6.1 % to be valued at US$ 6,716 Million from 2022 to 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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