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Tuesday, May 21, 2024

Tortilla Mix Market’s Modest 6.6% CAGR Growth to US$ 23.18 Billion by 2033, Fueled by Global Health Consciousness | Future Market Insights, Inc.

Last updated Thursday, September 14, 2023 20:44 ET , Source: Future Market Insights, Inc.

Newark, United States, 09/14/2023 / Future Market Insights, Inc. /

In 2023, the market share of the tortilla mix market was estimated to be worth US$ 12.23 billion. By 2033, it was estimated to be worth US$ 23.18 billion. This is expected to boost the market share of the tortilla mix and generate a CAGR of 6.6%.

The nutritional benefits of tortillas are becoming more widely recognized in both affluent and impoverished countries. At the same time, more and more people are becoming increasingly concerned about their health.

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The market has been driven by increased urbanization and female employment, leading to increased tortilla demand worldwide. The growth and demand for tortillas globally are driven by changes in lifestyle. An increase also influences consumption of tortillas in the number of urban workers, deteriorating health conditions, and busy schedules.

It is predicted that gluten-free tortillas will increase in popularity since gluten causes gut inflammation in almost 80% of cases. Due to the health implications of gluten consumption, including hypothyroidism and type 1 diabetes, consumers are increasingly seeking gluten-free tortillas.

“Tortillas are considered a healthier alternative to bread, frequently made with refined flour. This can be problematic for the gut, so white sandwich bread is significantly replaced by tortillas worldwide.” says a lead analyst at Future Market Insights.

Key Takeaways from the Market Study:

  • The market is expected to register a CAGR of 6.6% during the forecast period.
  • According to estimates, the tortilla mix market in North America may remain strong throughout the forecast period.
  • In 2033, the East Asia market is expected to register a CAGR of over 10.6% and reach US$ 6.22 billion. China is likely to hold 53% of the market share.

Competitive Landscape:

Several prominent companies dominate this market, including Aranda’s Tortilla Company, Inc., Arevalo Tortilleria, Inc., Azteca Foods, Inc., Catallia Mexican Foods, General Mills, Inc., Gruma SAB de CV, Grupo Bimbo SAB de CV, Grupo Liven, S.A., Ole Mexican Foods, Inc. and Tyson Foods, Inc.

A number of industrial companies use Tortilla Mix starch to thicken and stabilize Tortilla Mix in developed regions. As a result of these strategies, Tortilla Mix has developed significantly in the industry through partnerships, acquisitions, and research and development. These strategies have resulted in major developments.

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 Recent Developments:

  • In December 2021, Pepsi Co. entered India’s flat-cut and wafer-style potato chip market by launching Lay Wafer Style. The company introduced three flavors, including Salt & Pepper, Tangy Treat, and Sundried Chili, at various price points across retail stores and e-commerce platforms.
  • The Ortega brand now offers cauliflower-infused taco shells, flour tortillas, and three street taco-inspired sauces as part of the 2020 lineup from B&G Foods, Inc.
  • Old El Paso, a brand of General Mills, offers gourmet taco shell products widely available in the United States through e-commerce portals, allowing them to reach a broader audience. Taco shells can be purchased online through e-commerce portals, which allows them to reach a broader audience. These mechanisms have sustained the pandemic-related slag.

Tortilla Mix Market Segmentation by Category:

By Product Type:

  • Tostadas
  • Taco Shells
  • Corn Tortilla Mix
  • Flour Tortilla Mix
  • Tortilla Mix Chips

By Source:

  • Corn
  • Wheat

By Processing Type:

  • Fresh
  • Frozen

By Distribution Channel:

  • Online
  • Offline

By Region:

  • North America
  • Latin America
  • Europe
  • The Middle East and Africa (MEA)
  • East Asia

Author by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Frequently Asked Questions

What is the Market Size of the Tortilla Mix Market in 2023?

Which are the Lucrative Region in the Tortilla Mix Market?

How much is the Global Tortilla Mix Market Worth?

At what CAGR is the Global Tortilla Mix Market Projected to Grow?

Explore FMI’s related ongoing Coverage on the Food and Beverage Market Domain:

 

Tortilla Machine Market : size is expected to grow from US$ 8,500.0 Million in 2023 to US$ 19,756.4 Million by 2033, with overall sales accelerating at 8.8% CAGR throughout the forecast period (2023 to 2033).

Tortilla Market :  analysis by Future Market Insights shows that global consumption of Tortilla enjoyed a year-on-year (YoY) growth of 3.4% in 2022 to total sales of USD 26,394.9 Mn. 

Vegan Tortillas Market :  is expected to be valued at US$ 249.1 million in 2023 and reach a valuation of US$ 599.2 million by 2033. The demand for vegan tortillas is estimated to grow at a steady 10.2% CAGR, with the United Kingdom., the USA, China, and India emerging as key producers.

Frozen Tortilla Market :  is expected to reach a market valuation of US$ 7.8 Billion by 2022, accelerating at a CAGR of 5.07% between 2022 and 2032, surpassing US$ 12.9 Billion by 2032. Frozen tortilla sales grew at a CAGR of 4.5% between 2017 and 2021.

Immune Health Supplements Market : is poised for substantial growth, with a projected value of US$ 25,456.2 million in 2023. In 2022, the global market recorded revenue of US$ 23,100.0 million, experiencing a healthy CAGR of 11.4% from 2018 to 2022. By 2033, the market is estimated to reach an impressive US$ 63,457.4 million, reflecting a slightly reduced CAGR of 10.4% from 2023 to 2033.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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