The global corn tortilla market is projected to grow at a CAGR of 6.23% during the forecast period to reach US$24.525 billion by 2027, up from US$16.065 billion in 2020.
The tortilla market is bifurcated into wheat and corn tortillas. In 2020, the corn segment held the greatest proportion of the global tortilla market. The corn tortilla is the most conventional tortilla type. In supermarkets, an industrial nixtamalization technology is used to make many corn tortillas.
Tortillas are mainly flatbreads made from wheat and corn. Corn tortilla chips, tostadas, taco shells, and a variety of other tortilla products are available on the global market. Market expansion is expected to be fuelled by the tortilla's high nutritional characteristics. Corn tortillas are widely popular in North America and Europe, particularly in the United States, Italy, and Mexico. An uncooked corn tortilla is made with 46 percent nixtamalized corn, 3 percent fat, 45 percent carbohydrates, and 6 percent protein for hydration. An uncooked corn tortilla is composed of 46% nixtamalized corn, 3% fat, 45% carbohydrates, and 6% protein for hydration. A raw corn tortilla has 218 calories per 100 grams and is high in phosphorus (45% of daily value) and magnesium (20% of daily value).It contains a modest amount of vitamin B6, manganese, niacin, and zinc (10–19% DV). Corn tortillas are quite popular among customers because of their nutritious characteristics.
Drivers of Global Corn Tortilla Market Growth
The online and offline modes of purchasing food are booming in various parts of the globe due to rising populations, disposable income, and internet penetration. In comparison to the online mode of purchase, offline retail sales continue to dominate, which includes hypermarkets, supermarkets, and shopping malls, where consumers find it very easy to find all of their products under one roof. Slowly, as a result of urbanization and a fast-paced lifestyle, young people are becoming progressively influenced by online shopping, which will fuel market expansion through online sales channels. Furthermore, rising internet penetration in emerging nations is expanding the range of online sales channels, which is likely to increase demand for tortilla chips and other tortilla-based products in the future years. For example, according to the World Bank, Individuals using the Internet as a percentage of the total population in Indonesia increased by more than 800% from 6.92 percent in 2009 to 39.905 percent in 2018. Furthermore, many businesses are establishing an online sales channel in addition to offline sales in the form of apps, which provide convenience to a large population with a busy lifestyle, as well as safe online payment methods and substantial discounts.
The high nutritive properties associated with corn tortillas are driving this market.
Corn tortillas are high in magnesium and fibre. Magnesium is necessary for your brain, heart, and muscles, while fibre is important for digestion and heart function. Because of the qualities linked with corn, corn-based tortillas are more popular among customers. Tacos, tostadas, enchiladas, flautas, quesadillas, chilaquiles, and tortilla soup are just a few of the traditional Mexican foods made from corn tortillas. Warm corn tortillas are frequently served alongside stews, soups, grilled meats, and other foods. To make crispy tortilla chips, corn tortillas are also deep-fried.
Market for Corn Tortillas on a Global Scale
Corn tortillas come in a variety of shapes and sizes, including corn tortilla mix, frozen corn tortillas, pre-cooked corn tortillas, and corn tortilla chips. Corn tortilla chips are likely to hold a major proportion of the industry, and the market is expected to increase positively as a result of the increasing number of product launches in new varieties. Furthermore, corn tortillas have a higher nutritional value and contain fewer carbohydrates as compared to wheat tortillas, making them a viable bread substitute.
Impact on the Global Corn Tortilla Market
The impact of COVID-19 on online delivery indicates a considerable rise in buying and is currently seeing tremendous adoption, whereas the offline distribution channel is suffering owing to short-term discretionary spending and uncertainty. Furthermore, COVID-19 is predicted to have a catalytic beneficial impact on the market in the long run, as it is expected to increase the number of internet users. However, the future growth of the online segment is dependent on the quality of infrastructure facilities and logistics services in developing regions, where the logistics industry lacks the latest technologies. Due to a lack of large logistics coverage networks and inconsistent quality, the online retail business may face challenges in the future.
North America, South America, Europe, the Middle East, Africa, and Asia Pacific make up the tortilla market. Because of the presence of key market participants in the region, as well as the rising adoption of the Mexican diet in countries such as the United States and Canada, North America holds a considerable share of the global tortilla market. The increased number of people transitioning to a vegan diet, combined with rising cases of obesity and allergies linked to the use of other products, is predicted to drive the tortilla market in Europe throughout the forecast period. Increased investments and product debuts by multinational players in countries such as China, India, and Indonesia are also helping to drive the growth of the Asia Pacific tortilla market.
Key Market Segments
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. CORN TORTILLA MARKET, BY PRODUCT TYPE
5.2. Taco Shell
6. CORN TORTILLA MARKET, BY NATURE
7. CORN TORTILLA MARKET, BY PROCESSING TYPE
8. CORN TORTILLA MARKET, BY DISTRIBUTION CHANNEL
8.2. Convenience Store
9. CORN TORTILLA MARKET, BY GEOGRAPHY
9.2. North America
9.2.1. United States
9.3. South America
9.4.3. United Kingdom
9.5. The Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.3. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrative
10.3. Mergers, Acquisition, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.1.Ole Mexican Foods
11.2.GRUMA, S.A.B. de C.V
11.5.La Tortilla Factory
11.7.Guerrero White Corn Tortilla
11.8.Catallia Mexican Foods
11.9.Aranda's Tortilla Company, Inc.
Ole Mexican Foods
GRUMA, S.A.B. de C.V
La Tortilla Factory
Guerrero White Corn Tortilla
Catallia Mexican Foods
Aranda's Tortilla Company, Inc.
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