Tortilla Market: Forecasted Industry Growth to Reach US$ 75,309.4 Million by 2034

CITY, Country, 2024-Jun-11 — /EPR Network/ —

Tortilla Market
Tortilla Market

The global tortilla market is anticipated to reach a valuation of US$ 23.3 million in 2024, driven by packaging innovations. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.2% between 2024 and 2034, and reaching a total valuation of approximately US$ 75,309.4 million by 2034.

A key factor contributing to the growth of the market is the premiumization of products. The introduction of premium and gourmet tortilla products, often made with high quality or organic ingredients, caters to consumers willing to pay a premium for enhanced taste and quality.

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The focus on health and wellness continues to drive the market, with tortillas marketed as a healthier alternative, incorporating functional ingredients like quinoa, chia seeds, or flaxseed. Beyond traditional flatbreads, the market has seen the introduction of diverse tortilla formats, including tortilla bowls, mini tortillas, and specialty shapes, expanding usage possibilities in various cuisines.

Collaborations between tortilla manufacturers and other food industry players, such as restaurants or fast food chains, present opportunities for market expansion and brand visibility. The use of digital marketing and social media platforms to promote tortilla products and engage with consumers can be a significant driver for brand awareness and market growth.

Offering customizable options for tortilla products, such as different sizes, thicknesses, and flavors, allows manufacturers to cater to diverse consumer preferences and demands for personalized experiences. The incorporation of functional ingredients with health benefits, such as probiotics, fiber, and vitamins, into tortilla formulations can attract health conscious consumers seeking nutritious food options.

Consumers are increasingly seeking products with transparent and clean labels, free from artificial additives and preservatives. Tortilla manufacturers focusing on clean label formulations may gain a competitive edge. The fusion of tortilla based dishes with flavors from other cuisines, such as Asian or Mediterranean, can create unique and innovative products that appeal to a broader consumer base.

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Key Takeaways from the Market Study

  • Global tortilla market is to be valued at US$ 45,163.7 million in 2024.
  • From 2019 to 2023, the market demand expanded at a CAGR of 5.0%.
  • The market in Germany is expected to expand at a CAGR of 6.2% through 2034.
  • By product type, the corn tortilla segment to account for a market share of 41.2% in 2024.
  • From 2024 to 2034, tortilla market is expected to flourish at a CAGR of 5.2%.
  • By 2034, the market value of tortilla is expected to reach US$ 75,309.4 million.

“Integration of smart packaging technologies, such as QR codes for traceability or freshness indicators, can enhance the consumer experience and address concerns related to product quality,” -says Nandini Roy Choudhury (client Partner for Food and Beverages at  Future Market Insights, Inc.)

Competitive Landscape

Prominent players in the tortilla market are Grupo Bimbo SAB de CV, General Mills, Aranda’s Tortilla Company Inc., Ole Mexican Foods Inc, Easy Foods Inc., Gruma SAB de CV, PepsiCo Inc., La Tortilla Factory, Catallia Mexican Foods, Tyson Foods Inc., and Azteca Foods Inc., among others.

Company Portfolio

  • Gruma SAB de CV is a global player and one of the largest tortilla manufacturers. Its brand, Mission Foods, is well known for offering a wide range of tortilla products, including corn and flour tortillas, tortilla chips, wraps, and taco shells. The extensive distribution network of the company contributes to its global presence.
  • Grupo Bimbo, a major player in the baking industry, has a significant presence in the tortilla market. The company offers a variety of tortilla products under different brands, including Bimbo and Tia Rosa, catering to diverse consumer preferences.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global tortilla market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the tortilla market, the market is segmented on the basis of product type (tostadas, taco shells, corn tortilla, flour tortilla, tortilla chips), source (corn, wheat), processing type (fresh, frozen), and distribution channel (online, offline), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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