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 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 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 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.
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.
Corn tortillas are the base for many traditional Mexican dishes, such as tacos, tostadas, enchiladas, flautas, quesadillas, chilaquiles, and tortilla soup. Warmed corn tortillas are often served as an accompaniment to stews, soups, grilled meats, and other dishes. In the US, wheat flour tortillas are commonly used for burritos and quesadillas. Corn tortillas are also deep-fried to make crispy tortilla chips. These chips are often salted and can be eaten alone or accompanied with various salsas and dips such as guacamole. In nachos, tortilla chips are a key ingredient. Flour tortilla contains 200 calories, total carbohydrate 36g (12% DV), and dietary fiber 1 g (4% DV). Manufacturers offer tortilla that is organic, non-GMO, low carb, wheat-free, gluten-free, whole grain, and even vegetable-infused alternatives. These properties help create demand for tortilla among health-conscious consumers.