Market Scenario

Global Tortilla Industry 2020, as per the MRFR report, is poised to reach USD 48.51 billion at a CAGR of 5.10% by 2023.

A positive aspect of driving the development of Tortilla Industry is the broad range of tortillas. The tortilla's nutritional value makes it a possible bread replacer. In addition, technical advancements play a crucial role in developing the tortilla industry, with tremendous production growth and product creativity. Tortillas' flexibility and generally appealing taste profile have been influential in generating high demand and opening up different regional markets for the products. Since it is a plausible alternative to bread, it has further increased its demand.

Less focus on clean labeling, particularly concerning the protection of organic products, may have an effect on tortilla demand, thus affecting the growth of the global market for tortilla products. In addition, the growth of the global market over the projected period is also expected to be driven by rising flavored alternatives such as sweet potato tortilla, low carb flour tortilla, two sizes of flour tortillas with added calcium and vitamin D, among others.

Competitive Dashboard

The major players in the Tortilla Industry include Tyson Foods, and Azteca Foods, Grupo Bimbo, among others.

Market Segmentation

The demand for Tortilla Industry chips has been categorized into commodity categories such as tortilla mix, pre-cooked tortilla, frozen tortilla, and tortilla chips. The demand for pre-cooked tortillas is estimated to lead the demand and is predicted to have a massive 40.24 percent share throughout the global market.

Regional Overview

Based on value and volume, North America is expected to lead Tortilla Industry by holding the leading share of 59.24 percent. The North America field accounted for the most significant share in the global tortilla market. North America, Tortilla Industry, is predominantly being driven by rising demand for convenience food items among the customers. In addition, the excellent success of the retail industry and the marketing of goods played a crucial role in growing tortilla sales in the area through supermarkets, hypermarkets, and grocery stores.

During the forecast period, Latin America is also expected to rise at a rate of 5.07 percent.

Consumption of tortilla in Europe is also projected to rise rapidly at a CAGR of 5.07 percent during the given timeframe due to an increasingly health-conscious population and rising inclination towards tortillas as a healthier alternative to bread.

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