The tortilla sales are estimated to be at USD 45,163.7 million in 2024. The market is anticipated to reach USD 75,309.4 million by 2034. The market is further expected to surge at a CAGR of 5.2% during the forecast period 2024 to 2034.
Key Market Trends and Highlights
Attributes | Key Insights |
---|---|
Tortilla Market Estimated Size in 2024 | USD 45,163.7 million |
Projected Market Value in 2034 | USD 75,309.4 million |
Value-based CAGR from 2024 to 2034 | 5.2% |
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The scope for tortilla rose at a 5.0% CAGR between 2019 and 2023. The global market for tortilla is anticipated to grow at a moderate CAGR of 5.2% over the forecast period 2024 to 2034.
The market experienced steady growth during the historical period from 2019 to 2023. Several factors contributed to this historical surge. Increasing consumer demand for convenient and versatile food options, coupled with a rising preference for diverse and international cuisines, fueled the demand for tortillas.
The global shift towards healthier food choices and the perception of tortillas as a versatile and healthier alternative to traditional bread further boosted market growth. The accessibility of tortilla based products in various retail channels and the increasing popularity of Mexican and Latin American cuisines globally also played pivotal roles in shaping the historical landscape of the market.
Looking ahead to the forecast period from 2024 to 2034, the market is expected to witness significant growth. The market is poised for continued growth, with forecasted projections indicating a sustained upward trajectory. The factors driving this anticipated growth are multifaceted. Firstly, the convenience and versatility of tortillas align with the fast paced lifestyle of the modern consumer, making them a preferred choice for various meal options.
The increasing inclination towards international cuisines and the incorporation of tortillas into mainstream dietary habits contribute significantly to the projected expansion of the market. Health conscious consumers seeking alternatives to traditional bread continue to drive demand, as tortillas are often perceived as a healthier option.
The below table showcases revenues in terms of the top five leading countries, spearheaded by Spain and France. The countries are expected to lead the market through 2034.
Countries | Forecast CAGRs from 2024 to 2034 |
---|---|
The United States | 3.8% |
Mexico | 4.5% |
Germany | 6.2% |
France | 7.3% |
Spain | 8.1% |
The tortilla market in the United States is expected to expand at a CAGR of 3.8% through 2034. The widespread popularity of Mexican and Latin American cuisine in the United States has been a significant driver for the market.
The tortilla market in Mexico is anticipated to expand at a CAGR of 4.5% through 2034. Tortillas are a staple in Mexican cuisine and culture. Their deep-rooted significance as a traditional food item contributes to steady and consistent demand.
The sector for tortilla products in Germany is projected to exhibit a CAGR of 6.2% during the assessment period. The demand for convenience food is increasing, busy consumers in Germany want easy and quick meal solutions. Tortillas offer convenience in line with the busy lifestyle of consumers. Tortillas are suitable for various dishes, including wraps, tacos, and quesadillas.
The sector for the tortilla industry in France is projected to exhibit a CAGR of 7.3% during the forecast period 2024 to 2034. Increasing demand for quick meal solutions is the convenience factor for market growth.
Consumers with a busy lifestyle want easy and quick meal solutions, tortilla products like wraps and quesadillas align with the busy lifestyle of consumers.The tortilla products, such as artisanal or flavored varieties, cater to French consumers seeking unique and high-quality culinary experiences.
Tortilla product demand in Spain is estimated to rise at a CAGR of 8.1% during the forecast period 2024 to 2034. The easy accessibility of tortilla products over the country is a significant growth factor for the tortilla market.
The availability of tortilla products in supermarkets, grocery stores, and specialty stores is making easy access for busy consumers. Innovations such as new flavors, formats, or specialty tortillas contribute to the popularity of tortilla products in the Spanish market.
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The below table highlights how the corn tortilla segment is projected to lead the market in terms of product type, and is expected to account for a market share of 41.2% in 2024. Based on process type, the fresh segment is expected to account for a market share of 64.3% in 2024.
Category | Market Share in 2024 |
---|---|
Corn Tortilla | 41.2% |
Fresh | 64.3% |
Based on product type, the corn tortilla segment is expected to continue dominating the tortilla market. Corn tortillas are a staple in Mexican cuisine, and the growing popularity of Mexican food globally has contributed to the increased demand for authentic corn tortillas.
Corn tortillas are naturally gluten free, making them suitable for individuals with gluten sensitivities or those following gluten free diets. The demand for gluten free products has been a key driver of the corn tortilla segment.
Corn tortillas are often perceived as a healthier alternative to flour tortillas, as they may be lower in calories and fat. Corn tortillas made from whole corn or nixtamalization process offer nutritional benefits.
In terms of process type, the fresh segment is expected to continue dominating the tortilla market. Fresh tortillas are often associated with higher quality and authenticity, providing a closer resemblance to homemade tortillas. Consumers seeking an authentic culinary experience are drawn to the freshness of these products.
Fresh tortillas typically undergo minimal processing, and they may lack preservatives compared to their counterparts with extended shelf life. The demand for cleaner and less processed foods contributes to the growth of the fresh tortilla segment.
Fresh tortillas are often positioned as premium products due to their perceived higher quality and superior taste. Consumers willing to pay a premium for premium quality foods drive the growth of this segment.
The competitive landscape of the tortilla market is dynamic and influenced by evolving consumer preferences, health trends, and culinary innovations. Companies that stay agile, responsive to market trends, and committed to quality are likely to thrive in this competitive and versatile segment of the food industry.
Recent Development
Attribute | Details |
---|---|
Estimated Market Size in 2024 | USD 45,163.7 million |
Projected Market Valuation in 2034 | USD 75,309.4 million |
Value-based CAGR 2024 to 2034 | 5.2% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD million |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
Key Market Segments Covered | Product Type, Source, Process Type, Distribution Channel, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | 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.; Azteca Foods Inc. |
The tortilla market is projected to reach a valuation of USD 45,163.7 million in 2024.
The tortilla industry is set to expand by a CAGR of 5.2% through 2034.
The tortilla market is forecast to reach USD 75,309.4 million by 2034.
Spain is expected to be the top performing market, exhibiting a CAGR of 8.1% through 2034.
Corn tortilla is preferred, and is expected to account for a market share of 41.2% in 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 5.1. Tostadas 5.2. Taco Shells 5.3. Corn Tortilla 5.4. Flour Tortilla 5.5. Chips 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Source 6.1. Corn 6.2. Wheat 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Processing Type 7.1. Fresh 7.2. Frozen 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel 8.1. Online 8.2. Offline 8.2.1. Supermarkets 8.2.2. Convenience Stores 8.2.3. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Grupo Bimbo SAB de CV 19.2. General Mills 19.3. Aranda's Company Inc. 19.4. Ole Mexican Foods Inc 19.5. Easy Foods Inc. 19.6. Gruma SAB de CV 19.7. PepsiCo Inc. 19.8. La Factory 19.9. Catallia Mexican Foods 19.10. Tyson Foods Inc. 19.11. Azteca Foods Inc. 20. Assumptions & Acronyms Used 21. Research Methodology
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