The Tortilla Market has witnessed substantial growth over the past decade and is expected to continue its upward trajectory. In 2022, the market boasted a substantial value of US$ 26,394.9 million, reflecting its popularity among consumers worldwide. Looking ahead to 2032, the market is forecasted to reach a remarkable US$ 37,018 million, indicating robust growth potential.
Several significant reasons contribute to this amazing rise. To begin with, demand has been fueled by the growing global acceptance of tortillas as a diverse and healthier alternative to traditional bread. Consumers are increasingly looking for quick and healthy dining options, and tortillas fit the bill.
Furthermore, the global growth rate of 3.4% from 2022 to 2032 indicates that the tortilla market would continue to expand. This consistent development can be linked to causes such as changing eating patterns, an increased appreciation for diverse cuisines, and the use of tortillas in culinary applications beyond than traditional Mexican cuisine.
The tortilla industry has earned a name for itself throughout Latin America. Latin America topped the world market for tortillas in 2021, thanks in part to the rapidly rising Hispanic population in the United States. Corn is used as the primary basic material in more than 94% of tortillas produced or processed in nations such as Mexico.
Flour tortillas have a relatively high value share of the global tortillas market when compared to other varieties such as tortilla chips, taco shells, tostadas and corn tortillas. Tortilla chips, on the other hand, are likely to see significant growth in the next years.
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Research also suggests that, due to increasing demand for Mexican cuisine such as such as tortillas, nachos, enchiladas, tacos, and tamales, especially in North America and Latin America, tortillas, in the on-the-go snacks format, have been gaining traction. Busy lifestyles, deteriorating health conditions, and increasingly urban working population are some factors contributing to the consumption increase of tortillas, as per convenience.
Moreover, an in-depth consumer sentiment analysis also indicates that more than 40% consumers buy tortilla products on a weekly basis and +50% consumers buy from modern trade stores like hypermarkets and supermarkets, owing to easy availability of the product at reasonable prices. Tortilla flour-based products, being one of the main Mexican foods, is gaining traction among its target customers throughout the foodservice industry.
Traditional Tortillas in New Convenient, Flavored Formats to Push Global Adoption
The global tortilla market has witnessed a surge a surge in the launch of new products containing innovative flavors over the last couple of years. Moreover, organic or gluten-free new products are being increasingly adopted in Americas, primarily attributable to the rising demand for the product, with added health benefits. The launch of these new flavored products is expected to have a positive impact on the market, thereby fueling the growth of global tortilla market during the forecast period.
Moreover, significant growth in organized retailing in the form of hypermarket and specialty markets, which are more likely to make savory snacks popular among the consumers, will significantly drive the adoption of tortillas in the coming years.
Key Food Manufacturers Adding New Features to Tortillas to Expand Consumer Base
In new food formulations, key food manufacturers including Cargill and AB Mauri are leveraging the significant growth in the consumption of tortillas and have come up with new features added to tortillas. Cargill has developed a number of whole grain, low-fat tortilla prototypes in an effort to capture a slice of the growing U.S. market for healthy bread alternatives.
With their new patent technology, AB Mauri has developed reduced-fat tortillas, paving way for manufacturers to attract growing base of health conscious consumers. The company’s new patented technology enables manufacturers to develop reduced fat, reduced sodium, wheat-based tortillas. Already widely adopted in American market, AB Mauri has been strategizing on implementing the same patented technology in the European markets as well.
Moreover, FDA approvals for folic acid fortification of corn masa flour, allowing manufacturers to add up to 0.7 milligram of folic acid per pound of corn masa flour, has opened up new opportunities for manufactures to explore new food formulations. Key food manufacturer Bunge, offers corn masa flours and a wide variety of shortenings to help create products that meets all consumer demands.
Market Segments Covered in Tortilla Industry Analysis
Product Type :
- Tostadas
- Taco Shells
- Corn Tortilla
- Flour Tortilla
- Tortilla Chips
Source :
- Corn
- Wheat
Processing Type :
- Fresh
- Frozen
Distribution Channel :
- Online
- Offline
- Supermarkets
- Convenience Stores
- Others
Region :
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
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Key Questions Answered in the Report
- How much is the Tortilla market current worth?
Currently Tortilla market is worth more than US$ 26,394.9 Mn (2021).
- At what CAGR is the market expected to grow?
Tortilla consumption is expected to grow at a CAGR of around 3.4% during the period 2021-2031.
- How was the performance in the last five years?
In terms of revenue, Tortilla grew at a CAGR of around 2.3% during 2016-2020.
- What are the key trends boosting Tortilla sales?
The growing awareness of health consciousness among customers in the global market has propelled the industry’s expansion in the worldwide market. The utilisation of tortillas in the wrappers is another element driving this market’s global expansion.
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