ID: MRFR/F-B & N/1789-CR | February 2021 | Region: Global | 97 Pages
Tortilla market size is anticipated to reach USD 55.45 billion by 2030, registering a CAGR of 5.45% during 2022 to 2030.
$55.45 Billion
5.45%
North America
2022-2030
It is expected that the tortilla market will increase at a high CAGR of 5.45% in the global market to account for a larger market value of approximately USD 55.45 billion during the forecasted period from 2022 to 2030. There are so many different types of tortillas made and produced worldwide. These tortillas can be consumed cooked and uncooked both. These tortillas can be served in different forms and sizes, and they come in three different packages, such as tostadas, tortilla chips, and taco shells.
The Global Tortilla Market is driven by factors that have led consumers to increase their tortilla consumption. Due to the least amount of fat products being used in the preparation of the tortilla, it is preferably be used in the nutritional diet of a product. The content of a tortilla doesn’t consist of any dietary fibers that may lead to health issues like gastrointestinal functions. They are pretty much a good replacement for the fibre-based food products that are being consumed. However, there has been a wider audience than did not promote tortilla consumption due to the involvement of certain dietary fibers that makes a huge sustained difference at the market level.
COVID 19 Analysis
The situation of the global pandemic has affected the normal working of the people adversely. Owing to the growing outbreak of the global pandemic of COVID 19 now, one has to deal with financial crises along with health issues. The lockdown situation and the post lockdown situation have pushed the economies into forced recession. During the lockdown situation, most of the manufacturing units of the tortilla market has been shut down which resulted in a steep downfall in revenues.
It is expected that the market for tortilla will recover from this global pandemic situation at the end of the second quarter of the coming year during the forecasted period.
Market Dynamics
Drivers
Opportunities
Restraints
Value Chain Analysis
The global tortilla market is increasing tremendously in the global market during the forecasted period owing to various benefits provided by the tortilla products. The tortilla products are rich in fiber content and hence consumed as a weight-loss meal as it is a low-calorie product. The tortillas act as a substitute of dairy products as it is rich in calcium content and folic acids. The consumption of tortillas provides a high level of energy to work throughout the market and hence boost the growth of this market in the global market.
Market Segmentation
The tortilla market in the global market has been segmented based on the product type, source, claim, and distribution channels.
Based on the Product Type
Based on the Source
Based on the Claim
Based on the Distribution Channels
Regional Analysis
The largest market share in the tortilla market is held by the North American region as it is estimated to account for a higher market value of approximately USD 22.45 million and hence it dominates in the global market. The second-largest market share in this market is held by the Latin American region as it is expected to grow at a high CAGR of 5.07% during the forecasted period followed by the Asia-Pacific region, European region, the Middle East region respectively.
Competitive Landscape
The most prominent major key players in the tortilla market in the global market are as follows:
These most prominent major key players in the tortilla market in the global market use various strategies to capture the untapped potential market all across the globe by doing a collaboration, mergers, and acquisitions, establishing a new joint venture, developing a new product, innovation in the existing production, developing a new production process, expansion, and establishing a partnership.
Recent Developments
In August 2022, the tortilla food firm created a suburban Indianapolis and had the mergers collab with them by establishing 500 new jobs by the end of the year 2030.
In July 2022, the firm Frito-Lay had planned to collaborate almost a sum of around 200 million dollars to manufacture snacks. Then the addition of operational brands came out of the concern.
In June 2022, the casual Mexican restaurant that had a chain retail producing tortillas made sure of the investment in the company’s plans and so on.
Report Overview
This global tortilla research report contains various elements such as:
This global tortilla research report consists of various factors that drive the market along with the factors that restrict the growth of this market. Various growth opportunities in this market are also mentioned during the forecasted period. This report also contains the impact of the global pandemic of COVID 19 on the market. The future growth rate in the tortilla industry in the global market during the forecasted period is estimated and mentioned.
Users
Tortilla manufacturers, the food industry, retailers, wholesalers and distributors, traders, importers and exporters, and others.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 55.45 Billion |
CAGR | 5.45% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product Type, By Source, By Claim, By Distribution Channel, and By Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | 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) |
Key Market Opportunities | Decreasing price of two important raw material which helps in the manufacturing of tortilla, Increasing demand for Mexican foods |
Key Market Drivers | Presence of various nutritional contents, Increasing awareness about health consciousness, Use of tortillas in the wrappers |
It is expected that the tortilla market will grow at a high CAGR of approximately 5.45% in the global market during the forecasted period.
The tortilla market is expected to account for a higher market value share of approximately USD 55.45 million in the global market during the forecasted period.
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.), and Grupo Liven S.A. (Spain) are some of the key players that dominate the tortilla market.
The largest market share in the tortilla market in the global market is held by the North American region.