The tortilla market is evaluated at US$38.731 billion for the year 2019 growing at a CAGR of 6.11% reaching the market size of US$58.662 billion by the year 2026.
Tortilla is a thin unleavened flatbread used primarily in Mexican cuisine for making burritos, enchiladas, and mainly as a wrap called a taco. It has been a staple food for the Hispanic population and is now gaining popularity in other regions of the world as well, as tortillas made from corn or wheat are considered to be high in protein, vitamins & minerals. The demand for tortillas is increasing in developed as well as developing countries, owing to their nutritional properties as well as the growing health-conscious population around the globe. Tortilla has replaced white sandwich bread in many parts of the world, as tortillas are considered to be a healthier option than bread which is often prepared from refined flour which is unhealthy for the gut. The increase in health-consciousness is leading to increased adoption of tortillas which is anticipated to propel the market growth during the forecast period.
The COVID-19 pandemic, however, is expected to hurt the growth of the tortilla market as due to the pandemic, manufacturing operations and supply chains all around the world came to a halt, reducing the production and supply of tortillas in various regions. Furthermore, the temporary closures of the foodservice industry, caused because of the lockdowns, is also expected to hurt this market growth. The market is projected to witness a moderate decline in the year 2020. However, the improvement in the economic scenario caused by mass-level vaccination and simultaneous opening up of the global economies is anticipated to stage the recovery of the market from 2021 onwards.
Increasing awareness regarding the health benefits of tortillas.
The major factor propelling the growth of the tortilla market is the increasing awareness regarding its health benefits. Tortillas are a great source of fiber but in contrast to other foods that also contain fiber, such as cereals or bread, this fiber doesn't contain other ingredients that promote weight gain and also helps to improve gastrointestinal functions in the body. Taking this into account, tortillas can be a great substitute for white bread and other food products responsible for the increasing obesity rates around the world. Tortillas, besides being less fattening and delicious, also contain a large amount of folic acid. This vitamin promotes healthier nails, hair, and skin and is also essential for pregnant women as it helps in the formation of the fetus ' nervous system. Furthermore, tortillas are affordable and can also be used to cook a lot of different recipes, removing any hindrance in its increasing adoption as a substitute to other food products, which may contain some proteins or chemicals harmful to the body. These factors are leading to a rise in the adoption of tortillas around the world due to which the market growth is anticipated to boost during the forecast period.
Taco shells grow at a considerable pace.
By product type, taco shells are projected to grow at a substantial pace throughout the forecast period. Taco shells are a prevalent form of food in the American subcontinent originating from Mexico. The culinary trends of today are proliferating the taco shell market. The food truck culture of the United States widely uses taco shells in both traditional and fusion cuisines. The food blogging culture is also aiding the expansion of the market. Prompt lifestyles along with the increase in consumption of junk food are other market drivers. The availability of processed taco shells has made it reach far wide owning to the rapid urbanization and increasing participation of the female in the organized sectors. These growing opportunities motivated food companies to reap the benefits of the market along with the spouting of food-startup companies. In 2020, B&G Foods, Inc expanded the Ortega brand lineup with taco shells and flour tortillas formulated with cauliflower and a trio of street taco-inspired sauces. The online availability of taco shells through e-commerce portals is making it reach a wider audience. The slag observed due to the pandemic has been sustained through these channels. General Mill's brand Old El Paso has a line of gourmet taco shell products which is highly preferred in the United States.
North America to dominate market growth.
Geographically, the North American region is anticipated to hold a significant market share and is projected to witness substantial growth during the forecast period due to the growing Hispanic and Latin population in the U.S. which is one of the major drivers of the tortilla market in the region. Since tortilla is one of the main Mexican foods, its demand is rising with the growth of the Hispanic population in North America.
|Market size value in 2019||US$38.731 billion|
|Market size value in 2026||US$58.662 billion|
|Growth Rate||CAGR of 6.11% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product Type, Source, Processing Type, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||GRUMA, Tyson Foods, Inc., Catallia Mexican Foods, La Tortilla Factory, Azteca Foods, Inc, Olé Mexican Foods Inc., Easy Food Inc., Mi Rancho, Tortilla King Inc., Fiesta Tortilla Factory Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the tortilla market size by 2026?
A1. The tortilla market is expected to reach a total market size of US$58.662 billion in 2026.
Q2. What is the size of the global tortilla market?
A2. Tortilla Market was valued at US$38.731 billion in 2019.
Q3. What are the growth prospects for the tortilla market?
A3. The global tortilla market is expected to grow at a CAGR of 6.11% over the forecast period.
Q4. What factors are anticipated to drive the tortilla market growth?
A4. The demand for tortillas is increasing in developed as well as developing countries, owing to their nutritional properties as well as the growing health-conscious population around the globe.
Q5. Which region holds the largest market share in the global tortilla market?
A5. Geographically, the North American region is anticipated to hold a significant share in the global tortilla market owing to the growing Hispanic and Latin population in the region.