Tortilla market is projected to reach $55.45 billion

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New York, 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 to 2030″, It is estimated that by the end of 2030 the market will reach over USD 55.45 billion. The report further forecasts that the market will thrive at a healthy CAGR of over 5.45% during the review period.

Market Scope:

Tortilla is a type of baked bread made primarily from wheat and corn. It is very popular in Spain and Mexico. It is rich in minerals, vitamins and proteins, which increases the nutritional value of corn. In addition, the use of wheat as a raw material increases the calcium, mineral salt and magnesium content of the tortilla. With many types of tortillas available in the world market, today they are used as a substitute for bread, affecting the global tortilla industry.

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Competitive Dynamics:

The major players in the market are focused on product development and keeping up with current food trends. Alongside this, market participants also enter into joint ventures, strategic partnerships, mergers and acquisitions in order to improve their market profile. New entrants and start-ups are also keeping competitive dynamics high in the tortilla market. The Most Known Key Players of Tortilla Market in the Global Market are as follows:

  • Tyson Foods, Inc. (US)
  • Gruma SAB de CV (Mexico)
  • Grupo Bimbo SAB de CV (Mexico)
  • General Mills, Inc. (USA)
  • Azteca Foods Inc. (USA)
  • Ole Mexican Foods Inc. (USA)
  • Grupo Liven, SA (Spain)

Market Dynamics:

Market leader:

The tortilla market is growing strongly. The availability of various nutrients such as vitamins, proteins and minerals is driving the growth of the global tortilla market. Additionally, the growing health awareness among consumers in the global market has impelled the expansion of the market. Additionally, the use of tortillas in packaging is another factor driving the global expansion of this market.

The growing need of the global market for this product. The tortilla market in the global industry presents numerous potential opportunities due to the price decline of two main raw materials used in tortilla manufacturing. In addition, the growing demand for Mexican foods such as tacos and wraps in other parts of the world opens up new perspectives in this sector. To meet the increased demand for tortillas, most manufacturers are focusing on producing low-fat and whole grain tortillas, which offer growth potential in the global tortilla market.

Market Constraints: The tortilla market is expanding rapidly, but several constraints, such as the availability of substitute products in the tortilla sector, limit its global expansion. Another issue limiting the growth of this market is a lack of understanding of the nutritional value of tortilla products, which will limit growth throughout the anticipated period.

Browse Tortilla In-Depth Market Research Report (97 Pages): https://www.marketresearchfuture.com/reports/tortilla-market-2419

COVID-19 assessment:

The global pandemic crisis has negatively impacted people’s daily activities. Due to the spreading global epidemic of COVID 19, people are now having to deal with both financial and health issues. The closure and the aftermath of the lockdown have pushed the economy into an enforced recession. During the lockdown, the majority of the tortilla market’s production units were closed, resulting in a significant drop in sales. During the anticipated period, the tortilla market is expected to 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 largest market share in this area and thus dominates it. Additionally, tortilla mix is ​​expected to be the fastest growing product type dividend during the anticipated period.

Based on source

The corn dividend has the largest market share at this dividend and thus dominates the market. In this market, the wheat tortilla is growing at a healthy rate.

Based on the claim

Gluten-free tortillas have the largest market share in this industry, as a large part of the population suffers from lactose intolerance.

Based on distribution channels

The stationary sales channel has the largest market share. Additionally, the tortilla market is growing at a healthy rate in the global market through non-store-based distribution channels.

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Regional Analysis:

With a market value of around USD 22.45 million, North America holds the largest share of the tortilla market and is therefore the world market leader. The large and readily available supply of raw materials needed to produce tortillas, as well as the presence of major market players worldwide, have fueled the growth of the tortilla industry in this region. The North American region is expected to hold a major market share and witness significant growth during the forecast period owing to the growing Hispanic and Latino population, 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 increasing as North America’s Hispanic population grows.

The Latin American region holds the second largest market share in this industry, with a high CAGR of 5.07 percent predicted for the forecast period. The economies of Brazil and Argentina have benefited significantly from population growth that has accompanied continued 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 had a major impact on the shopping behavior of customers in Brazil and is increasing the tortilla commodity market at a rapid pace.

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