The “Global Tortilla Market to 2027 – Global Analysis and Forecasts by Nature (Organic, Conventional); Source (Wheat, Corn); Product type (Tortilla chips, Taco shells, Tostadas, Flour tortillas, Corn tortillas, others); Distribution Channel (Hypermarkets/Supermarkets, Convenience stores, Online, Others) and Geography”, The scope of study involves understanding on the factors responsible for this growth of tortilla market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant tortilla players in the market and their key developments.
The global tortilla market is accounted to US$ 37,865.2 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 – 2027, to account to US$ 59,444.8 Mn by 2027. The North American region accounted for the maximum share in the global tortilla market. While Asia-Pacific is projected to grow at a CAGR of 4.6% during the forecast period. Asia-Pacific is among the lucrative regional market for tortilla offering number of opportunities to market players.
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The rising consumers' inclination towards the adoption of healthy convenience food has encouraged the demand for bread alternatives such as tortillas in the Asia Pacific countries such as India, Australia and China. Moreover, the busy lifestyle of the consumers is propelling the demand for convenience food. This, in turn, has boosted the demand for a tortilla in these countries. Companies operating in this region are continuously introducing different types of tortillas such as tortilla mix, pre-cooked, frozen, and tortilla chips to cater the growing demand from households & commercial kitchens, restaurants & cafes. The increasing popularity of various savory snacks such as wraps, tacos, fajitas, big burritos and chimichangas and many others among Asian consumers is driving the growth of tortilla market.
The tortilla market based on nature has been segmented into organic and conventional. The conventional segment accounted for the largest share in the global tortilla market. However, the organic tortilla segment is expected to grow at higher CAGR of 5.6% during the forecast period. Changing demands from health-conscious consumers has led to a surge in demand for organic tortillas. In addition, introduction of wide range of products such as gluten-free options, whole grain, added fiber, and ethnically diverse offerings has been developed by manufacturers attracts new customers in the market. This, in turn, has boosted the demand for organic tortillas in recent years.
The global tortilla market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. The North America region is expected to account for the largest share of the global tortilla market in 2018, followed by Europe and Asia Pacific. Some of the major players in the tortilla market include GRUMA, S.A.B. de C.V., PepsiCo Inc., Easy Foods Inc., La Tortilla Factory Liven, S.A., Ole Mexican Foods Inc., Catallia Mexican Foods, Aranda’s Tortilla Company, Inc., Arevalo Tortilleria, Inc., Azteca Foods, Inc. among others.
GROWING DEMAND FOR PLANT-BASED PRODUCTS OFFERED BY MANUFACTURERS – INFLUENCE THE TORTILLA MARKET GLOBALLY
In the past few years, there has been an enormous change in consumer perception due to increased transparency and growing health concerns. Consumers are now aware of several harmful effects related to health and the environment due to the use of synthetic products. Increasing awareness about the side-effects of antibiotics and hormones present in animal-based products is one of the critical factors escalating the demand for plant-based products. Due to this, consumers are more inclined toward products containing natural ingredients. The tortilla is a thin, unleavened flatbread mainly prepared from wheat and corn. In Guatemala and Mexico, there are three different colors of maize dough for making tortillas, including white maize, yellow maize, and blue maize. In Mexico and Central America, maize has been a staple food for centuries. It is the most cultivated crop in the Mexican region. The country grows more than 42 different types of maize, each of which has several varieties whose number is estimated to be more than 3,000 by the International Center for the Improvement of Maize and Wheat (CIMMYT). In Mexico, the basic use of maize is to prepare tortilla. Tortillas are consumed daily, factory-made tortillas are majorly sold, and can also be made easily at home.
Food and beverage manufacturers focus on market trends and consumer requirements to develop innovative products and enhance the sales of their entire product line.
Therefore, in the past few years, several companies have launched innovative tortilla products that offer healthy options to consumers. Manufacturers offer different types of tortilla, such as tortilla chips, taco shells, tostadas, flour tortillas, and corn tortillas, for consumers. Based on the type of maize used, tortillas come in several different flavors and colors. Tortillas are used in many dishes. Latin American dishes made with maize tortillas include Chalupas, Chilaquiles, Enchiladas, Enfrijoladas, Entomatadas, and Gorditas. Manufacturers of the tortilla are adopting various strategies such as product development, expansion, and innovation to compete in the market and fulfill the demand of consumers. For instance, in 2018, Easy Food Inc. opened a new tortilla facility. The new Easy Foods facility is rail-served, SQF certified (Safe Quality Food) and currently employs 150 people. Currently, the facility can create about 10 million pounds of tortillas each month, and the company has planned to increase the ability to 16 million pounds each month.
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The Business Research Company published its Cookie, Cracker, Pasta, And Tortilla Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global cookie, cracker, pasta, and tortilla market.
The report covers the cookie, cracker, pasta, and tortilla market’s segments- by type: cookie and cracker; dry pasta, dough, and flour mixes from purchased flour; tortilla, by distribution channel: supermarkets/hypermarkets; convenience stores; e-commerce; others, and by end use: meals; intermediate products; others.View Complete Report: https://www.thebusinessresearchcompany.com/report/cookie-cracker-pasta-and-tortilla-global-market-report-2020-30-covid-19-impact-and-recoveryCookie, Cracker, Pasta, And Tortilla Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It also compares the market’s historic and forecast growth.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Frozen food manufacturers are using technologies such as individual quick freezing (IQF) to improve yield and quality of frozen foods.
