Tortilla Market Scope
Tortilla is a flat, thin bread made from maize. It can also be made from wheat flour. Tortilla is original to Mexico and is consumed widely in North America as well as Europe. North America is the largest market for tortillas. Firstly, there were only maize and corn tortillas but Europeans introduced wheat which also became the raw material for tortillas. Tortilla is also produced as packaged food as it offers convenience and less cooking time. With the rise of the hospitality industry, the demand for tortillas is also increasing.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Campbell (United States), Globe Group (India), PepsiCo Inc. (United States), GRUMA, S.A.B. de C.V (Mexico), Easy Foods Inc. (United States), La Tortilla Factory (United States), Liven, S.A. (Spain), Ole Mexican Foods Inc. (United States), Catallia Mexican Foods (United States) and Arevalo Tortilleria, Inc. (United States) |
CAGR | 5.7% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Tortilla market throughout the predicted period.
Campbell (United States), Globe Group (India), PepsiCo Inc. (United States), GRUMA, S.A.B. de C.V (Mexico), Easy Foods Inc. (United States), La Tortilla Factory (United States), Liven, S.A. (Spain), Ole Mexican Foods Inc. (United States), Catallia Mexican Foods (United States) and Arevalo Tortilleria, Inc. (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Tortilla market by Type and Region with country level break-up.
On the basis of geography, the market of Tortilla has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In February 2023, Rise & Puff, a U.S.-based better-for-you tortilla brand, launched three flagship products, including original tortillas, organic tortillas, and gluten-free tortillas.
On 24th Feb 2021, "Late July," a Campbell-owned food brand, introduced new veggie tortilla chips made with chia seeds and carrots. Beat the Heat! Red Pepper and Dangle the Carrot are the two flavors of the new tortilla chips brand, which attempts to combine flavourful veggies with vibrant spices and seeds. Each chip is made with actual ingredients and is plant-based and Non-GMO Project Verified, according to Late July.
According to FSSAI guidelines about raw materials, “1) Obtain raw materials from reliable and known dealers. Do not purchase from illegal/unauthorized dealers. 2) Check for visible deterioration and off odor. 3) Sort food ingredients to segregate materials which are evidently unfit for human consumption.”
Influencing Trend:
Introduction of Tortilla Chips in the Market
Market Growth Drivers:
Increasing Demand for Novel Foods and Rising Tortilla Consumption as A Breakfast
Challenges:
Availability Of Many Alternatives to The Tortilla and Challenging To Differentiate Between the Market Players
Restraints:
Preference For Home-Made Tortillas
Opportunities:
Growing Middle-Class Population of The World Is an Opportunity for Tortilla Manufacturers and Increasing Fast-Paced Lifecycle of Urban Population Will Increase the Demand of Tortillas
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Tortilla Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others