Dublin, Dec. 02, 2020 (GLOBE NEWSWIRE) -- The "Global Tortilla Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global tortilla market is expected to grow at a CAGR of 5.58% over the forecast period to reach a total market size of US$53.648 billion by 2025, increasing from US$38.731 billion in 2019.
Increasing adoption among non-Hispanic population in the United States coupled with its growing popularity due to its healthier eating alternatives is expected to drive the growth of the market during the forecast period. Also, expanding retailing business both online and offline in developing countries is accelerating the growth of the market in the coming years.
Growing Latin America Culinary Influence
Dishes like tacos which made from corn tortillas and a carnitas filling are gaining popularity in various parts of the world. Latin American style food today has entered the mainstream American diets on account of rising Hispanic and Latino immigrant population that has increased both demand and supply of Latin American styled food. Food retailing chains such as Tex-Mex and Taco Bell Corp are also gaining popularity which is boosting the demand for tortilla.
With Mexican food being popular choice in many countries and is now becoming an important diet in their snacking habits the tortilla market is expected to witness significant growth in the coming years. For instance, according to the latest data by the Snack Food Association the Americans consumers more than 8.2 million pounds of tortilla chips on Super Bowl alone.
Expanding retail businesses in developing countries
The growing population, increasing disposable income, and growing internet penetration is booming the online and offline mode of purchase for food in various parts of the world. Offline retail sales still dominate at present in comparison to the online mode of purchase which includes hypermarkets, supermarkets, and shopping malls, where consumers find it quite convenient to find their products under one roof.
Slowly, with the advent of urbanization and a fast-paced lifestyle, young population are highly influenced by the online mode of purchasing, hence this will fuel the market growth through online sales channels as well. Besides, growing internet penetration in the developing countries is also widening up the scope of online sales channels which is further expected to boost the demand for tortilla chips and other tortilla-based products in the coming years.
COVID-19 impact on the online supply-side indicates a significant increase in buying and are currently witnessing massive adoption while offline source of distribution channel is suffering due to short-term discretionary spending and uncertainties. Besides, in the long-term market is expected to see a catalytic positive impact due to COVID-19 as it is expected to increase the number of internet users.
However, the further growth of the online segment depends on the quality of infrastructure facilities, and the quality of logistic services in developing regions where logistics industry lacks in latest technologies and due to absence of large logistics coverage networks and inconsistent quality, therefore the online retail business may face certain challenges in the coming future.
Tortilla chips is holding noteworthy share in the market
There are distinct types of tortilla made available to the consumers such as tortilla mix, frozen tortilla, pre-cooked tortilla, and tortilla chips. The tortilla chips are expected to hold significant share in the market and with the rising number of product launches in new flavors the market is anticipated to witness positive growth. In addition, the nutritious value of tortilla with more carbohydrates making it a possible replacer for bread.
By geography analysis
By geography, the tortilla market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America holds the significant share in the global tortilla market owing to the presence of major market players in the region coupled with rapid adoption of Mexican diet in countries like the U.S., and Canada.
Europe also holds substantial market share owing to the rising number of people switching to vegan diet supported by the growing cases of obesity and allergies related the consumption of other products is expected to drive the market for tortilla in the region during the forecast period. In the Asia Pacific region, increasing investments and product launches by international players in the countries like China, India, and Indonesia is also contributing to the growth of Asia Pacific tortilla market.
Prominent/major key market players in the global tortilla market include GRUMA, Tyson Foods, Inc., Catallia Mexican Foods, PepsiCo, La Tortilla Factory, Azteca Foods, Inc, Ole Mexican Foods Inc., Easy Food Inc., Mi Rancho, Eagle Foods Australia, Arevalo Foods Inc, Tortilla King Inc., Fiesta Tortilla Factory Inc., and Franco Whole Foods.
The number of players in the tortilla market is huge and concentrated to American and European region and is growing with the opportunity to generate significant revenues because of growing demand in various parts of the world. The players in the global tortilla market are implementing various growth strategies like marketing, bulk online discount schemes to gain a competitive advantage over its competitors in this market.
Major market players in the global tortilla market have been exhaustively covered along with their relative competitive position and strategies and the report also mentions recent deals and investments of different market players over the last few years.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Tortilla Market Analysis, By Product Type (Value in US$ Million)
5.3. Taco Shells
5.4. Corn Tortilla
5.5. Flour Tortilla
5.6. Tortilla Chips
6. Global Tortilla Market Analysis, By Source Type (Value in US$ Million)
7. Global Tortilla Market Analysis, By Processing Type (Value in US$ Million)
8. Global Tortilla Market Analysis, By Distribution Channel (Value in US$ Million)
9. Global Tortilla Analysis, by Geography (Value in US$ Million)
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
Tyson Foods, Inc.
Catallia Mexican Foods
La Tortilla Factory
Azteca Foods, Inc
Ole Mexican Foods Inc.
Easy Food Inc.
Eagle Foods Australia
Arevalo Foods Inc.
Tortilla King Inc.
Fiesta Tortilla Factory Inc.
Franco Whole Foods
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