Global Tortilla Market - 2023-2030

Market Overview

The global tortilla market reached US$ 495,89 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 659,08 million by 2030. The market is growing at a CAGR of 3.6% during the forecast period (2023-2030).

The key drivers of the growth of the tortilla market are the increasing availability of high-quality, authentic Mexican ingredients and flavors. With the rise of specialty stores and online retailers, consumers have access to a wider range of authentic ingredients, including various types of corn and flour, as well as traditional spices and seasonings. The tortilla market has been experiencing several trends in recent years, driven by changing consumer preferences and demands. As more consumers become health-conscious, there has been a growing demand for tortillas made with healthier ingredients.

Market Dynamics

Innovative Product Launches of Tortilla Helps to Boost Market Growth

Tortillas are versatile and easy to use, making them a popular choice for quick and easy meals. As a result, many manufacturers are introducing new and innovative products that are designed to make meal preparation even easier, such as pre-cut tortilla strips, flavored tortilla wraps, and mini-tortillas for snacking. The increase in innovative product launches of tortillas in the market is a reflection of changing consumer preferences and growing demand for diverse and convenient food options.

For instance, on 8 March 2023, Doritos partnered with Burger King and launched flame-grilled Whopper tortilla chips in the market. It tastes the same as a burger including its onions, tomatoes and pickles. It is suitable for vegetarians.

Increase in the Consumer's Health Benefits Awareness About the Consumption of Tortilla

Tortillas are low in fat, especially if they are made with whole grains or other healthy ingredients. This can be beneficial for those looking to reduce overall fat intake. Tortillas made with whole grains are often high in fiber, which can help improve digestion and reduce the risk of chronic diseases like heart disease and diabetes. Tortillas made with whole grains or other high-fiber ingredients can have a lower glycemic index, which means they are less likely to cause spikes in blood sugar levels.

COVID-19 Impact Analysis

One of the most notable impacts of the pandemic has been an increase in demand for tortillas. With more people cooking at home and eating fewer meals in restaurants, sales of tortillas and other Mexican food products have soared. Many consumers have turned to tortillas as a versatile and convenient ingredient for making a wide range of dishes, from tacos and burritos to quesadillas and wraps.

Segment Analysis

The global tortilla market is segmented based on source, form, type, distribution channel and region.

Increase in the Product Launches of Corn Based Tortillas Globally is Expected to Drive the Segment Growth

Corn-based tortillas are more popular than wheat-based ones because of the properties associated with them. Corn tortillas have been proven to be a good source of fiber and magnesium, according to studies. Moreover, corn tortillas are also whole grain and have fewer carbohydrates, calories and fat than flour tortillas, which is also one of the reasons for its growing popularity. Major key players in the industry launched corn-based tortilla in the market.

For instance, on October 21, 2022, General Mills launched Fiesta Twists corn Old El Paso chips in the market. It is available in the different flavors such as Queso, Zesty Ranch and Cinnamon Churro.

Geographical Analysis

The Increasing Demand for Gluten Free Products in the United States, led to the Domination of North America in the Global Tortilla Market

By region, the global tortilla market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and America.

North America holds a significant share in the global tortilla market, owing to the presence of major market players in the region coupled with the rapid adoption of the Mexican diet in countries like the U.S., and Canada. Food retailing chains such as Tex-Mex and Taco Bell Corp are also gaining popularity, which is boosting the demand for tortillas. With Mexican food being a 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. According to the Mintel's forecasted data for United States, market size for the Tortilla and potato chip is estimated $20.2bn for 2022 and suggesting strong growth over the next 5 years.

Competitive Landscape

The major global players 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., and Azteca Foods, Inc.

Why Purchase the Report?

• To visualize the global tortilla market segmentation based on source, form, type, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of tortilla market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global tortilla market report would provide approximately 69 tables, 61 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies