Tortilla Market Research Report - Forecast till 2030

Tortilla Market Information: Product Type (Tortilla Mix, Pre-Cooked Tortilla, Frozen Tortilla, and Tortilla Chips) Source (Corn and Wheat) Claim (Gluten-Free and Low-Carb) Distribution Channel (Store-Based and Non-Store Based) Region - Forecast till 2030

ID: MRFR/F-B & N/1789-CR | February 2021 | Region: Global | 97 pages

Tortilla Market

Tortilla Market Size is anticipated to reach USD 55.45 Billion by 2030, registering a CAGR of 4.45% during 2021 to 2030.

Segmentation

By Product Type Tostadas Taco Shells Tortilla Mix Corn Tortilla Frozen Tortilla Flour Tortilla Tortilla Chips Pre-Cooked Tortilla
By Source Corn Source Wheat Source
By Claim Gluten Made Tortilla Gluten-Free Tortilla
Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific Rest of the World

Key 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)

Drivers

  • Owing to the presence of various nutritional contents
  • Use of Tortillas in the wrappers is another factor that drives the growth
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Tortilla Market Market Overview:


The form of baked bread, largely made of wheat and corn is called tortilla. It is highly used in Spain and Mexico. It is observed that it is rich in minerals, vitamins, and proteins as it increases the nutritional value of corn. Also, the use of wheat as a raw material increases the calcium, mineral salts, and magnesium content in the tortilla. Owing to the availability of various types of tortillas in the global market, it is now used as a replacement for bread and hence influences the global tortilla market in the global market.


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 2021 to 2030.


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



  • The tortilla market is increasing at a higher pace. Owing to the presence of various nutritional contents like vitamins, proteins, and minerals drive the growth of the tortilla market in the global market. Also, the increasing awareness about health consciousness in the consumers in the global market accelerated the growth of this market in the global market. Moreover, the use of tortillas in the wrappers is another factor that drives the growth of this market in the global market.


Opportunities



  • The increasing demand of this market in the global market. Owing to the decreasing price of two important raw material which helps in the manufacturing of tortilla provides various growth opportunities to the tortilla market in the global market. Moreover, the increasing demand for Mexican foods in various other regions also provides various growth opportunities in this market. To capture the growing demand for tortilla products, most of the manufacturers are focusing on the production of low-fat tortilla and whole-grain tortilla provides growth opportunities in the tortilla market in the global market.


Restraints



  • The tortilla market is growing very rapidly but some factors restrict the growth of this market like the availability of substitutes in the tortilla industry hampers the growth of the tortilla market in the global market. Another, factor that restricts the growth of this market is the no-awareness of the importance of the nutritional value present in the tortilla products hinders the growth during the forecasted period.


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



  • The tortilla market in the global market has been divided based on the product type into tostadas, taco shells, tortilla mix, corn tortilla, frozen tortilla, flour tortilla, tortilla chips, pre-cooked tortilla. The largest market share in this division is held by the pre-cooked tortilla and hence dominates the market. Moreover, tortilla mix is observed to be the fastest-growing in the product type dividend during the forecasted period.


Based on the Source



  • The market for tortilla has been divided based on the source into corn source and wheat source. The largest market share in this dividend is held by the corn dividend and hence it dominates the market. The wheat source tortilla is showing a positive growth rate in this market.


Based on the Claim



  • The market for tortilla has been divided based on the claim into gluten made tortilla and gluten-free tortilla. Since a major portion of the population is suffering from lactose intolerance, gluten-free tortilla holds the largest market share in this market.


Based on the Distribution Channels



  • The global market has been divided based on the distribution channels into store-based distribution channels and non-store-based distribution channels. The store-based distribution channel is further sub-divided into hypermarket, supermarket, and specialty stores. The largest market share is held by the store-based distribution channel. Moreover, the non-store-based distribution channel also shows a positive growth rate in the tortilla market in the global market.


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:



  • 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)


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 2020, a new manufacturing plant has been planned to establish by the end of 2026, under the mission foods in Suburban Indianapolis by the tortilla producers which will create job opportunities, approximately 500 new jobs.

  • In July 2020, a huge amount of approximately USD 200 million has been invested by a division of PepsiCo, namely Frito-Lay in Perry, Georgia for expansion of its snack operations mainly in tortilla chips products during the forecasted period.

  • In June 2019, for expanding the market share of Fast-Casual Mexican Restaurant to cater to the increasing need for tortilla products in the global market a chain of four restaurants has been opened in the United Kingdom which makes the total estate of Fast-Casual Mexican Restaurant 49 sites.

  • In February 2019, a huge amount of investment of approximately USD 90 million has been done by Stripes Group LLC for the company’s expansion plans in Siete Family Foods that makes plant-based, dairy-free products, and grain-free products.


Report Overview


This global tortilla research report contains various elements such as:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


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.



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Frequently Asked Questions (FAQ) :

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.

The largest market share in the tortilla market in the global market is held by the North American region.