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What Growth Rate Can Be Expected in the Tortilla Market from 2024 Through 2033?

The size of the tortilla market has seen robust growth over the past few years. It is predicted to expand from $46.43 billion in 2023 to $50.33 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 8.4%. This growth in the previous period can be credited to factors including its traditional role as a dietary staple, its wide-ranging culinary applications, a shift towards healthier options, an increase in popularity of Mexican and Tex-Mex cuisine, a global convergence in food preferences, as well as the rise of convenience and ready-to-eat foods.

Anticipated to experience substantial growth in the near future, the size of the tortilla market is set to reach $67.36 billion by 2028, progressing at a compound annual growth rate (CAGR) of 7.6%. This projected growth during the forecast period is largely due to reasons such as the growing popularity of plant-based and vegan diets, the influence of global fusion cuisine, burgeoning breakfast burrito and wrap offerings, the rise in snack culture, along with sustainability and ethical sourcing concerns. Key trends that are likely to shape the market in the forecast period incorporate ingredient and flavour innovation, consumer preference towards clean labels and natural ingredients, strategic alliances, and innovation specific to tortilla flavors.

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What Dynamics Are Shaping the Growth of the tortilla Market?

The surge in nutritional deficiencies among the global population is predicted to fuel the expansion of the tortilla market. Nutritional insufficiency, lacking essential vitamins and minerals in one’s diet, can result in malnutrition and anemia. Tortillas act as a preventive measure against such deficiencies as they are relatively high in calories and provide protein, vitamins, iron, fiber, and other nutrients. This leads to promoting the growth and energy of the body due to their high nutritional value. For instance, a report published by the World Health Organization (WHO) in June 2021, a chemical company based in the Netherlands factored undernutrition responsible for 45% of deaths in children under the age of five worldwide. Moreover, as per a US-based humanitarian aid organization, United Nations International Children’s Emergency Fund (UNICEF), in February 2023, 30% of women aged between 15-49 have anemia, while 10% are underweight, and over 35% are overweight out of which 13% are obese. Consequently, the swift rise in the population with nutritional deficiencies is fuelling the rise of the tortilla market.

What Are the Essential Segments of the Tortilla Market?

1) By Product Type: Tortilla Chips, Taco Shells, Tostadas, Flour Tortillas, Corn Tortillas, Other Products

2) By Nature: Organic, Conventional

3) By Processing Type: Fresh, Frozen

4) By Source: Wheat, Corn

5) By Distribution Channels: Hypermarkets, Supermarkets, Convenience Stores, Online, Other Distribution Channels

What Are the Defining Trends in the Evolving Tortilla Market?

The escalating trend of technology utilization in tortilla production is gaining significant traction in the tortilla market. Preeminent companies in this market are embracing innovative production technologies to maintain their market standing. For instance, in July 2021, Kemin Industries Inc., a US specialty ingredient manufacturing and supply company, launched a new interactive digital tool for tortilla producers named Floor Tortilla Doctor. This tool aims to tackle a range of process and quality issues, including enhancing operational efficiency and extending shelf life. It provides a straightforward and effective method for troubleshooting during tortilla production. The interactive aid steers manufacturers through their processes and any potential problem areas. Upon identifying possible challenges, Floor Tortilla Doctor recommends options such as Kemin batch packs and premixes to enhance tortilla products and expedite product distribution.

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Which Regions Are Emerging as Leaders in the Tortilla Market?

North America was the largest region in the tortilla market in 2023. Latin America is expected to be the fastest-growing region in the global tortilla market during the forecast period. The regions covered in the tortilla market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Tortilla Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the tortilla market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Tortilla Market Include

1. Tortilla Market Executive Summary

2. Tortilla Market Segments

3. Tortilla Market Size And Template Market Growth Rate

4. Key Tortilla Market Trends

5. Major Tortilla Market Drivers

……

25. Key Mergers And Acquisitions In The Tortilla Market

26. Top Tortilla Companies

27. Tortilla Market Opportunities And Strategies

28. Tortilla Market, Conclusions And Recommendations

29. Appendix

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