| Source: ReportLinker ReportLinker
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Tortilla Global Market Report 2023” – https://www.reportlinker.com/p06479821/?utm_source=GNW
, Arevalo Foods, Azteca Foods Inc., Tyson Foods Inc., Fiesta Tortillas, Eagle Foods Australia, Cargill Incorporated, and Grupo Bimbo S.A.B. de C.V.
The global tortilla market is expected to grow from $47.40 billion in 2022 to $50.42 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tortilla market is expected to reach $63.85 billion in 2027 at a CAGR of 6.1%.
The tortilla market consists of sales of sorghum tortillas, grain tortillas, guirila, hoja Santa tortillas, nopal tortillas, beetroot tortillas, and nopaltillas.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Tortilla refers to a thin, unleavened flatbread, made of corn flour, filled with cheese, salsa, beans, guacamole, or meat.It is used to scoop up sauced or stewed dishes and contains enough lipids, vitamins, calcium, and magnesium for proper body growth.
Tortillas are common in many parts of Mexican food.
North America was the largest region in the tortilla market in 2022.Latin America is expected to be the fastest-growing region in the forecast period.
The regions covered in tortilla report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products involved in tortillas are tortilla chips, taco shells, tostadas, flour tortillas, corn tortillas, and others.Tortilla chips refer to thick chips made from corn that are eaten with salsa or guacamole.
It comes in organic and conventional forms and is processed into fresh and frozen types made of wheat and corn sources. It is distributed through hypermarkets, supermarkets, convenience stores, online, and others.
The increase in the number of people suffering from nutritional deficiencies is expected to propel the growth of the tortilla market going forward.Nutritional deficiency refers to the lack of necessary vitamins and minerals in the diet, which can lead to malnutrition and anemia diseases.
Tortilla helps prevent nutritional deficiency because they are moderately high in calories and are a good source of protein, vitamins, iron, fiber, and other vitamins.They boost the body’s growth and energy with high-potential nutrition.
For instance, in June 2021, according to the reports shared by the World Health Organization (WHO), a Netherlands-based chemical company, under nutrition was a contributing factor in 45% of all deaths of children under the age of five worldwide.Furthermore, in February 2023, according to the United Nations International Children’s Emergency Fund (UNICEF), a US-based humanitarian aid organization, 30% of women aged 15–49 have anemia, 10% suffer from underweight, and over 35% are overweight, of whom 13% are obese.
Therefore, the increase in the number of people suffering from nutritional deficiencies is driving the growth of the tortilla market.
Technological advancement in the manufacturing of tortillas is a key trend gaining popularity in the tortilla market.Major companies operating in the tortilla market are adopting new manufacturing technologies to sustain their position in the market.
For instance, in July 2021, Kemin Industries Inc., a US-based specialty ingredient manufacturer and supplier, introduced an interactive digital tool for tortilla manufacturers called the Floor Tortilla Doctor. It is designed to address a variety of process and quality challenges, including operational effectiveness and shelf life extension, and offers a simple and efficient way to solve problems during the manufacturing process for tortilla manufacturers. The interactive tool guides manufacturers through their applications and any potential trouble spots. After identifying any potential issues, the floor Tortilla Doctor recommends solutions such as Kemin batch packs and premixes to improve tortilla goods and accelerate product distribution.
In July 2021, Flagship Food Group., a US-based diversified food company, acquired a majority stake in Tortilla King LLC., for an undisclosed amount. With the acquisition of Flagship Food Group., it hopes to expand its operations and confirm its position as one of the leading and most significant privately held food companies in the nation, specializing in premium Hispanic brands. Tortilla King LLC., is a US-based manufacturer of tortillas, tortilla chips, and salsas.
The countries covered in the tortilla market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The tortilla market research report is one of a series of new reports that provides tortilla market statistics, including tortilla industry global market size, regional shares, competitors with a tortilla market share, detailed tortilla market segments, market trends and opportunities, and any further data you may need to thrive in the tortilla industry. This tortilla market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479821/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.