According to the latest market report published by Future Market Insights titled ‘Tortilla Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028’, the revenue generated from Tortilla has been estimated to be valued over US$ 12,324.4 Mn in 2018, which is projected to increase at a CAGR of 3.7% during the forecast period (2018-2028).
The development of the evolution of the ethnic food segment has been one of the major trigger factors. Several key food processing companies have been identifying innovative techniques for the production of tortillas catering to the varying preferences of their target consumers. For instance, there has been a rise in the health associated with the consumption of low-calorie, low-fat food products. Taking this trend into consideration, food processing giant AB Mauri developed a patented technology for reduced-fat tortillas, which paves an opportunity to gain traction among health-conscious consumers. The company’s new patented technology has facilitated food manufacturers to reduce fat, reduced sodium, wheat-based tortillas. The system has already been adopted for tortilla production in the North America market for a while now. The company has been implementing the same patented technology in Europe as well.
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Besides the innovation factor, there has been a rise in concern over the food safety factor . In order to maintain trust among consumers, recently, the Tortilla Industry Association (TIA) announced its alliance with the FSNS, ie, Food Safety Net Services. Food Safety Net Services provides services such as microbiological testing, chemistry testing, FSMA compliance, research & consultation, educational services and independent certification audit.
The global tortilla market is driven by a rise in the Hispanic population. Hispanic population is considered the nation’s largest ethnic or racial minority. Hispanics accounted for 17.8 percent of the total population of the US in 2017. According to the US Census Bureau, the Hispanic population is expected to rise to 106 million by 2050. A rise in the population of Hispanics in the nation has triggered the demand for Hispanic food. Dishes like chili, fajitas, salsa, tortilla chips, chimichangas, quesadillas, burritos, and nachos are some of the well-known items that are being preferred. Chipotle, Taco Bell, Qdoba, among others, which offer a plethora of products integrating tortilla across their menus.
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According to the World Bank, more than 60% of the global population thrives in urban areas. Tortilla chips or wraps that can be consumed well. The global tortilla chips market has witnessed a massive rise in the number of new product launches. Most of these new products are organic or gluten-free and were launched in North America, which is attributable to the rising preference for tortilla in this region.
Key Producers of Tortilla
Some of the major companies operating in the global market are tortilla Gruma SAB de CV , PepsiCo, Inc. , Easy Food Inc. , La Tortilla Factory , Los Amigos Tortilla Manufacturing, Inc. , Tortilla King Inc. , Catallia Mexican Foods , Aranda’s Tortilla Company Inc. , Arevalo Foods Inc. , Azteca Foods , Eagle Foods Australia , Franco Whole Foods , Olé Mexican Foods Inc., Fiesta Tortilla Factory Inc, Rudy’s Tortilla, among others .
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