Market Research Report
Global Tortilla Market Research Report - Forecast to 2023
|Published by||Market Research Future||Product code||602852|
|Published||Content info||152 Pages
Delivery time: 1-2 business days
|Global Tortilla Market Research Report - Forecast to 2023|
|Published: December 20, 2017||Content info: 152 Pages||
A tortilla is a form of baked bread which is majorly prepared from corn and wheat and consumed mostly in Spain and Mexico. The use of corn in the preparation of tortilla enhances its nutritional value as corn is a rich source of proteins, vitamins, and minerals. Vitamin B controls the vital metabolism of cells. The process of production of tortilla from corn involves the soaking of corn in the limewater, and this process helps in the availability of Vitamin B after its consumption. Tortilla has a potential application as a bread replacer as it is found to be more nutritious. It is consumed as snacks in the form of ready-to-eat baked chips and tortilla shells. It has multi-purpose applications in the preparation of various food dishes.
Tortilla chips have gained their popularity as a potential snack and as an alcohol accompaniment. Tortilla chips are found to have become a staple snack for consumers in various regions based on the unique formulation and flavor of the product. The strong performance of the retail sector and product promotions have played a vital role in increasing the sales of tortilla via supermarkets/hypermarkets and specialty stores. More than 50% sales of tortilla chips were observed to have been accomplished through supermarkets and grocery stores. Healthier varieties available in tortilla chips such as whole-grain corn have increased the demand even more. Tortilla chips are also considered as the most popular dip chip based on the 'better-for-you' dip chip property.
The global tortilla market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North American region accounted for 59.24% market proportion in 2017 in the global tortilla market and is estimated to retain its dominance throughout the forecast period of 2017 to 2023. The growth of the North American region is expected to be driven by the increasing consumption of tortilla both in the U.S. and Mexico. Moreover, tortilla has been invented in Mexico. The key manufacturers of tortilla are in the North American region which in turn escalates the sales of tortilla. However, the Latin American region is projected to expand at a substantial growth rate of 5.07% during the forecast period of 2017 to 2023.
The tortilla market has been segmented on the basis of type of tortilla mix, pre-cooked tortilla, frozen tortilla, tortilla chips, and others. On the basis of source, the market is segmented into corn, wheat, and others. On basis of claim, the market is segmented into gluten free, low carb, and others. On the basis of distribution channel, the market is segmented into store-based and non-store-based.
The leading market players in the global tortilla market primarily are 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).
As per the MRFR analysis, the global tortilla market is poised to reach USD 48.51 Billion by 2023, to grow at a CAGR of 5.10% during the forecast period.
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