Tortilla Market to Acquire a Value of USD 55.45 Billion by 2030 at 5.45% CAGR - Report by Market Research Future (MRFR)
Tortilla Market Size and Trend Analysis by Product Type (Tortilla Mix, Pre-Cooked Tortilla, Frozen Tortilla, and Tortilla Chips) Source (Corn and Wheat) Claim (Gluten-Free and Low-Carb) Distribution Channel (Store-Based and Non-Store Based), and by Region - Forecast till 2030
New York, US, May 17, 2022 (GLOBE NEWSWIRE) -- *Tortilla Market Overview:*
According to a Comprehensive Research Report by Market Research Future (MRFR), *“**Tortilla Market** Information by Product Type, Source, Claim, Distribution Channel, and Region - Forecast till 2030”,* the market is estimated to acquire a size of over USD 55.45 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 5.45% during the review timeframe.
*Market Scope:*
Tortilla is a type of baked bread that is mostly made of wheat and corn. It's quite popular in Spain and Mexico. It is found to be high in minerals, vitamins, and proteins, which boosts corn's nutritional value. Furthermore, using wheat as a raw material boosts the tortilla's calcium, mineral salts, and magnesium content. Because many types of tortillas are available on the global market, they are now used as a substitute for bread, which has an impact on the global tortilla industry.
*Get Free Sample PDF Brochure @* https://www.marketresearchfuture.com/sample_request/2419
*Competitive Dynamics:*
The key players of the market are focusing on product development and keeping up with food trends relevant in current times. Besides this, market players are also undertaking joint ventures, strategic partnerships, mergers and acquisitions to improve their market profile. New entrants and startups are also keeping the competitive dynamics of the tortilla market sharp. The most prominent major key players in the tortilla market in the global market are as follows:
· Tyson Foods, Inc. (U.S.)
· Gruma SAB de CV (Mexico)
· Grupo Bimbo SAB de CV (Mexico)
· General Mills, Inc. (U.S.)
· Azteca Foods Inc. (U.S.)
· Ole Mexican Foods Inc. (U.S.)
· Grupo Liven, S.A. (Spain)
*Market Dynamics:*
*Market Drivers:*
The tortilla market is growing significantly. The availability of various nutritional elements such as vitamins, proteins, and minerals is fueling the worldwide tortilla market's growth. Furthermore, the growing awareness of health consciousness among consumers in the global market has boosted the market's expansion. Furthermore, the utilization of tortillas in the wrappers is another factor driving this market's global expansion.
The global market's expanding need for this product. The tortilla market in the global industry has numerous potential opportunities due to the dropping price of two major raw materials used in tortilla manufacture. Furthermore, the growing demand for Mexican foods such as tacos, and wraps in other parts of the world opens up new prospects in this sector. To meet the increased demand for tortillas, most producers are concentrating on the manufacturing of low-fat and whole-grain tortillas, which give growth potential in the global tortilla market.
Market Restraints: The tortilla market is quickly expanding, but several limitations, such as the availability of replacements in the tortilla sector, are limiting its global expansion. Another issue limiting this market's growth is a lack of understanding about the nutritional value of tortilla products, which will limit growth throughout the anticipated period.
*Browse In-depth Market Research Report (97 Pages) on Tortilla:* https://www.marketresearchfuture.com/reports/tortilla-market-2419
*COVID-19 Evaluation:*
The global pandemic crisis has had a negative impact on people's routine daily activities. Due to the expanding global epidemic of COVID 19, people are now having to deal with both financial and health difficulties. The closure and the aftermath of the lockdown have pushed the economy into a forced recession. During the lockdown, the majority of the tortilla market's manufacturing units were shut down, resulting in a significant drop in revenue. During the anticipated time, it is expected that the tortilla market will recover from the global pandemic crisis by the end of the second quarter.
*Market Segmentation:*
*Based on the Product Type*
The pre-cooked tortilla has the biggest market share in this sector and hence dominates it. Furthermore, during the anticipated period, tortilla mix is expected to be the fastest-growing product type dividend.
*Based on the Source*
The corn dividend has the biggest market share in this dividend and hence dominates the market. In this market, the wheat tortilla is growing at a healthy rate.
*Based on the Claim*
Gluten-free tortillas have the biggest market share in this industry since a large section of the population suffers from lactose intolerance.
*Based on the Distribution Channels*
The store-based distribution channel has the biggest market share. Furthermore, the tortilla market in the global market is growing at a healthy rate through non-store-based distribution channels.
*Buy Now:* https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=2419
*Regional Analysis: *
The North American area holds the greatest market share in the tortilla market, with a market value of around USD 22.45 million, and so leads the global market. The vast and readily available supply of raw materials required to create tortillas, as well as the presence of key worldwide market participants, have fueled the tortilla industry's growth in this region. The North American region is likely to have a large market share and experience significant growth during the forecast period, owing to the growing Hispanic and Latin population in the United States, which is one of the key drivers of the tortilla market in the region. Tortillas are one of the most popular Mexican foods, and demand is rising as North America's Hispanic population grows.
The Latin American area holds the second-largest market share in this industry, with a high CAGR of 5.07 percent predicted over the forecasted period. The economies of Brazil and Argentina have benefited significantly from population growth mixed with continuous developments in the food and beverage sectors. The South American tortilla market is dominated by Brazil, Argentina, and the rest of the region. Social media has a big impact on client shopping behavior in Brazil, boosting the tortilla goods market at a rapid pace.
*Share your Queries @ *https://www.marketresearchfuture.com/enquiry/2419
*Discover More Research Reports by Market Research Future:*
Wheat Gluten Market Research Report: Information by Form (Powder and Liquid), Application (Bakery & Confectionery, Dietary Supplements, Animal feed and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
Gluten-free flours Market Research Report: Information by Type (Sorghum, Amaranth, Rice, Oats, Millet, and Others), Category (Organic, Conventional), Distribution Channel (Store-Based and Non-Store Based), Region — Global Forecast 2030
Gluten-Free Bakery Market Information- by ingredients{(Main Ingredients- Rice, Corn, Buckwheat, Quinoa, Others) (Others- Hydrocolloid, Protein source, Flavor), Product Type (Bread, rolls & buns, cakes & cheesecakes, muffins & cupcakes, cookies & biscuit, doughnuts, sandwiches & wraps, dough & butter and others), Distribution Channel (store-based & nonstore based) and Region - Forecast to 2028
Gluten-Free Products Market Research Report Information by Type (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, Meat Products, Prepared Foods, others), Distribution Channel (Store Based, Non-Store Based) and Region - Forecast till 2027
*About Market Research Future:*
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
*Follow Us*: LinkedIn | Twitter
CONTACT: Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com