Asia Pacific Tortilla Market Summary
As per Market Research Future Analysis, the Asia Pacific Tortilla Market is projected to grow at a CAGR of 6.2% and reach USD 2,997.2 million by 2032. The market is driven by the increasing consumer preference for healthy convenience foods, with corn-based tortillas witnessing a surge in demand. Innovations in product offerings, such as fortification with fiber and seeds, are attracting consumers. However, fluctuations in corn supply due to climatic conditions may impact production and pricing. China is expected to dominate the market, reaching USD 580.96 million by 2023, while Australia & New Zealand are projected to grow at a CAGR of 2.88%. The pre-cooked tortilla segment is anticipated to hold the largest market share, growing at a CAGR of 2.92%.
Key Market Trends & Highlights
Key trends influencing the Asia Pacific Tortilla Market include health-focused innovations and regional consumption patterns.
- China is projected to retain market dominance, estimated to reach USD 580.96 million by 2023.
- The pre-cooked tortilla segment is expected to grow at a CAGR of 2.92% during the forecast period.
- The low-carb segment is anticipated to be the fastest growing at a CAGR of 3.03% due to rising obesity rates.
- Store-based distribution channels dominate with a 90% market share, emphasizing consumer preference for one-stop shopping.
Market Size & Forecast
| 2023 Market Size | USD 2,001.18 million |
| 2032 Market Size | USD 2,997.2 million |
| CAGR | 6.2% |
Major Players
Tyson Foods, Inc. (U.S.), Gruma SAB de CV (Mexico), Grupo Bimbo SAB de CV (Mexico), General Mills, Inc. (U.S.), Azteca Foods Inc. (U.S.), Ole Mexican Foods Inc. (U.S.), Grupo Liven, S.A. (Spain)
