Newark, May 15, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 25.6 billion tortilla bread market will reach USD 42.5 billion by 2033. The growing demand for tortillas is mostly due to the growing appeal of ethnic cuisines, especially Tex-Mex and Mexican. The industry is expanding due partly to consumer demand for low-carb and gluten-free options and rising awareness of good eating practices. Tortillas are a convenient option for people who are on the go and need quick lunch options because of their convenience and ease of use. Although the tortilla market has a lot of potential, there are certain limitations. Price fluctuations for basic materials like corn and wheat can affect production costs and market expansion. Furthermore, manufacturers need help maintaining uniformity and quality in their products throughout an international supply chain.
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Key Insight of the Tortilla Bread Market
Nevertheless, the market keeps developing and innovating despite these obstacles. With globalisation fostering cross-cultural connections and sharing culinary customs, Mexican food, which heavily emphasises tortilla bread, has become increasingly popular worldwide. The tortilla bread market is expanding due to consumers' rising aversion to Mexican cuisine and their love of foods like tacos, burritos, and quesadillas.
North America will account for the largest market size during the forecast period.
The market is dominated by North America, where the love of Mexican food drove tortilla demand to unprecedented levels. Tortillas are becoming common in restaurants and homes across North America owing to their flavorful and adaptable qualities. The appeal of Mexican and Tex-Mex food has helped the region gain a sizable market share. For example, tortillas have become incredibly popular in the US as a bread alternative in wraps and sandwiches, which has helped them capture a sizeable portion of the market. The tortilla bread market is also growing due to the thriving fast-food business in North America, where major firms are starting to offer menu items with Mexican influences.
The corn segment dominated the market with the most significant revenue of USD 14.84 billion.
The corn segment dominated the market with the most significant revenue of USD 14.84 billion. Due to their unique flavour and texture, corn tortillas have long been a mainstay of Mexican cuisine and have become incredibly popular worldwide. Their popularity in classic recipes like quesadillas, enchiladas, and tacos has cemented their status as a customer favourite.
The fresh segment dominated the market with the most significant revenue of USD 13.82 billion.
The fresh segment dominated the market, with the most significant revenue of USD 13.82 billion. Since fresh tortillas usually have fewer additives and preservatives, they are considered a healthier option. The fresh processing type segment dominates the market for tortilla bread due to consumers' demand for quality and freshness.
The tortilla chips segment dominated the market with the most significant revenue of USD 7.16 billion.
The tortilla chips segment dominated the market, with the most significant revenue of USD 7.16 billion. The growing desire for healthier snack options has pushed the market for tortilla chips made from whole grains, multi-grains, and natural ingredients, further strengthening its dominance in the industry.
The hypermarkets/supermarkets segment dominated the market with the most significant revenue of USD 10.75 billion.
The hypermarkets/supermarkets segment dominated the market with the most significant revenue of USD 10.75 billion. These large-scale stores act as one-stop shops, providing various tortilla options to satisfy customer tastes. Supermarkets and hypermarkets offer a convenient shopping experience by allowing customers to discover and select from various brands, flavours, and sizes due to their shelves filled with a comprehensive assortment of tortilla items.
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Market Dynamics:
Drivers: Increasing diversity in culinary preferences
Global customer diversity in culinary preferences is one of the main factors propelling the tortilla bread industry. The popularity of Mexican cuisine has increased as people look for new and unique flavours in their food and become more experimental with their selections. A mainstay of Mexican cooking, tortilla bread has grown in popularity in Hispanic-heavy areas and places where cultural dishes are welcomed and honoured. The demand for tortilla bread has increased due to the growing appreciation for various gastronomic experiences, leading to market expansion.
Restraint: Supply chain disruptions and ingredient shortages
The market for tortilla bread is severely constrained by the supply chain's susceptibility to interruptions and shortages of ingredients. Along with additional flavourings and additives, essential materials like corn masa or wheat flour are crucial to the creation of tortilla bread. Any disruption in the supply of these ingredients, whether due to natural catastrophes, unfavourable weather conditions that affect crop yields, or logistical difficulties, can severely impact the availability and cost of making tortilla bread.
Opportunity: Rise in demand for convenient and healthy food options
Customers are looking for quick meal options that are pleasant and nourishing due to their hectic lifestyles and growing knowledge of the value of nutrition. Well-known for its adaptability and simplicity of preparation, tortilla bread is the perfect foundation for various wholesome and quick meals, including wraps, burritos, and quesadillas. Furthermore, health-conscious people seeking gluten-free or low-carb options will find that tortilla bread produced from whole grains or substitute wheat appeals to them. Tortilla bread's extensive use and steady market expansion can be attributed to its convenience and health advantages.
Some of the major players operating in the tortilla bread market are:
● General Mills
● Ole Mexican Foods Inc
● Gruma SAB de CV
● La Tortilla Factory
● Tyson Foods Inc.
● Grupo Bimbo SAB de CV
● Aranda's Tortilla Company Inc.
● Easy Foods Inc.
● PepsiCo Inc.
● Catallia Mexican Foods
● Azteca Foods Inc.
Key Segments covered in the market:
By Ingredients:
● Corn
● Wheat
By Processing Type:
● Frozen
● Fresh
By Product Type:
● Taco Shells
● Flour Tortillas
● Tortilla Chips
● Tostadas
● Corn Tortillas
By Distribution Channel:
● Online
● Specialty Stores
● Hypermarkets/Supermarkets
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About the report:
The global tortilla bread market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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