In 2023, the market share of tortilla mix was estimated to be worth US$ 12.23 billion. By 2033, it was estimated to be worth US$ 23.18 billion. This is expected to further boost the market share of the tortilla mix and generate a CAGR of 6.6%.
The nutritional benefits of tortillas have become increasingly popular in both developed and developing countries. At the same time, a growing number of people are becoming more health conscious.
Global demand for tortillas appears to be rising due to rapid urbanization and rising female employment, which has boosted the market. Lifestyle changes seem to be driving global tortilla growth and demand. A rise in urban working populations, deteriorating health conditions, and busy schedules are also driving tortilla consumption.
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It is predicted that gluten-free tortillas will increase in popularity in the future since gluten causes gut inflammation in almost 80% of cases. Due to the health implications of gluten consumption, including hypothyroidism and type 1 diabetes, consumers are increasingly seeking gluten-free tortillas.
“Tortillas are thought to be a healthier alternative to bread, which is frequently made with refined flour. This can be problematic for the gut, so white sandwich bread is significantly replaced by tortillas worldwide.” says a lead analyst at Future Market Insights.
Key Takeaways from Market Study
- The market is expected to register a CAGR of 6.6% during the forecast period.
- According to estimates, the tortilla mix market in North America may remain strong throughout the forecast period.
- In 2033, the East Asia market is expected to register a CAGR of over 10.6% and reach US$ 6.22 billion. China is likely to hold 53% of the market share.
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Competitive Landscape:
Several prominent companies dominate this market, including Aranda`s Tortilla Company, Inc., Arevalo Tortilleria, Inc., Azteca Foods, Inc., Catallia Mexican Foods, General Mills, Inc., Gruma SAB de CV, Grupo Bimbo SAB de CV, Grupo Liven, S.A., Ole Mexican Foods, Inc. and Tyson Foods, Inc.
A number of industrial companies use Tortilla Mix starch to thicken and stabilize Tortilla Mix in developed regions. As a result of these strategies, Tortilla Mix has developed significantly in the industry through partnerships, acquisitions, and research and development. These strategies have resulted in major developments.
Recent Developments:
- In December 2021, Pepsi Co. entered the flat-cut and wafer-style potato chip market in India by launching Lay Wafer Style. The company introduced three flavors, including Salt & Pepper, Tangy Treat, and Sundried Chili, at a variety of price points across retail stores and e-commerce platforms.
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- The Ortega brand now offers cauliflower-infused taco shells and flour tortillas, as well as three street taco-inspired sauces as part of the 2020 line up from B&G Foods, Inc.
- Old El Paso, a brand of General Mills, offers gourmet taco shell products widely available in the United States through e-commerce portals, allowing them to reach a broader audience. Taco shells can be purchased online through e-commerce portals, which allows them to reach a broader audience. The pandemic-related slag has been sustained by these mechanisms.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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