Tortillas

Tortillas

Global Tortillas Market to Reach US$30.4 Billion by 2030

The global market for Tortillas estimated at US$24.5 Billion in the year 2023, is expected to reach US$30.4 Billion by 2030, growing at a CAGR of 3.1% over the analysis period 2023-2030. Tortilla Chips, one of the segments analyzed in the report, is expected to record a 3.9% CAGR and reach US$9.8 Billion by the end of the analysis period. Growth in the Taco Shells segment is estimated at 2.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$6.6 Billion While China is Forecast to Grow at 5.4% CAGR

The Tortillas market in the U.S. is estimated at US$6.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.1 Billion by the year 2030 trailing a CAGR of 5.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.7% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR.

Tortillas  - Key Trends and Drivers

Tortillas are celebrated for their versatility and adaptability, serving as the foundation for numerous dishes beyond traditional Mexican and Tex-Mex cuisine, such as wraps, sandwiches, and even desserts. Their ability to meld with various culinary traditions makes them a staple in many kitchens, suitable for quick meals and innovative cooking. Classic dishes such as tacos, burritos, and quesadillas highlight tortillas` capacity to pair with diverse fillings and condiments, offering everything from simple, cheese-filled snacks to substantial, meal-worthy creations. This adaptability underlines tortillas` role in culinary innovation and their enduring popularity across different food preferences.

The tortilla market is experiencing dynamic trends that shape consumer preferences and drive market growth. These trends include a focus on health, with an uptick in demand for tortillas catering to specific dietary needs, and the incorporation of plant-based and premium ingredients that appeal to a broader audience. There is increased demand for options such as whole grain, gluten-free, and low-carb tortillas. This health-conscious trend is complemented by a surge in interest for authentic, ethnic cuisines, fueling a preference for traditional tortilla-based dishes among diverse demographic groups, particularly in multicultural regions such as the United States. Aligning with the rise of vegetarian and vegan diets, there is an uptick in demand for tortillas made with plant-based ingredients. These include tortillas incorporating vegetable extracts or being marketed as suitable for vegan diets.

The demand for tortillas is also supported by their convenience, aligning with busy lifestyles where quick and easy meal solutions are prized, and sustainability, with a push towards products made through ethical and environmentally friendly practices. Additionally, the snacking trend is significantly impacting the tortilla market, with an expansion in tortilla-based snacks that cater to on-the-go consumption. Demographic shifts, particularly the growing Hispanic population in the U.S., are also significant, influencing the demand for authentic tortilla products and driving market expansion. As global culinary cultures become more integrated, consumers are more inclined to try authentic flavors and traditional foods, including tortillas, which are central to many Latin American dishes.

 

Select Competitors (Total 102 Featured) -

• Bimbo Bakeries USA
• Gruma SAB de CV
• Liven S.A.
• Mexican Food Specialties, Inc.
• Mission Foods
• Ole Mexican Foods, Inc.
• Signature Flatbreads Ltd.
• Tyson Mexican Original, Inc.

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