“Tortilla Market Size, Share, Trends, Global Analysis, 2027 | Top Market Players Azteca Foods Inc ,Grupo Liven S.A .etc.”

Tortillas A Hit Amongst the Masses

Tortillas are an extremely popular Latin American snack. But very few people know that the recipe found its origin in Mexico. Over the years thanks to their nutritional content & health benefits tortillas have gained a whole lot of recognition. Resultantly, the global tortilla market is witnessing remarkable development.

Tortillas are at their heart a form of baked bread. They are most made using dried corn and wheat. They form an integral part of recipes like burritos, quesadillas & tacos. Even after they lose their freshness, they can still be fried and used as chips or in soups as croutons.

One of the most special features of these snacks is that they are highly versatile in nature. They can be consumed as a normal wholesome snack and can also be used as an alcohol accompaniment. This product is a hit amongst the masses because of its distinct flavor and texture. The tortilla craze is not going to subside anytime soon, which is good news for the market and will help in its development.

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Market Summary

The coming years seem to have a lot in store for the global tortilla market. During the forecast period of 2018-2022, the market is projected to generate the revenue of above USD 47.8 billion. Experts suggest that the industry will move forward at the CAGR of around 4.7%.

The growth of this market will come around due to a combination of many factors. Amongst others, the nutritional value of tortilla seems to be driving the market growth. It is because tortillas are commonly made of corn which happens to be a great source of vitamins, minerals & proteins.

Another crucial factor that fuels the growth of the market is the availability of tortilla in a wide variety. This acts as an essential development booster because every person has an individualistic taste. As tortillas are readily available in so many options, people choose it over the others.

Industrial and technological advancements of this industry can be termed as additional aspects the foster the development of the market.

The growth of this market may be hampered by one major restraint which is the high cost of manufacturing commodities. Although, with time and expansion the market will overcome this hurdle.
Market Segmentation

The worldwide tortilla chips market can be divided into several parts like products, sources, product types, claim, distribution channels & geographies.

Based on products, the market can be bifurcated into fried tortilla chips & fried tortilla chips.

Because of sources, the industry is separated into wheat and corn. Out of these two corn accounts for the largest market share with over 60.38%. The credit for this lead goes to the nutritional value of corn. Although, the wheat sub segment is not far behind and is growing rapidly at the CAGR of around 5.2%.

The product types of division consist of subdivisions like pre-cooked, frozen tortilla, tortilla chips & tortilla mix. Pre-cooked tortilla dominates this segment with a market share of around 39.65%.

The claim segment is further branched into low – carb & gluten-free. Out of these the gluten-free segment is expected to tread forward at an impressive CAGR of around 6.12%.

The distribution channels of the market are split into store based & non-store based. Store based channels dominate this portion with a market of around 29.4%.

Regionally, this market is spread across North America, Europe, Asia Pacific & Rest of the World.

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Top Trends

At present, there are three major trends that govern the market. They are reaching the target customers through online retail, higher demand for organic & non-GMO based tortillas & lastly a hike in marketing and promotional activities by vendors.

Key Players & Strategies

Some of the major players of this industry include Azteca Foods Inc., Grupo Liven S.A., Tyson Foods & General Mills. The two major strategies adopted by these players are acquisitions & company expansion.

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