Recent research on the global tortilla market indicates that, despite the coronavirus pandemic and inflation rates, its commercialization will continue to grow steadily.
Data published in the tortilla market analysis by Future Market Insights shows that global tortilla consumption enjoyed a year-on-year (YoY) growth of 3.4% in 2022 to total sales of $26,394.9 million.
Increasing adoption of tortilla consumption among the non-Hispanic population in the U.S., coupled with its growing popularity due to its healthier food alternatives, is expected to drive market growth.
Future Market Insights reported that the tortilla market in the U.S. will increase at a CAGR of 2.9% over the next ten years. Across North America, global tortilla demand has reached $9.08 billion.
A significant factor influencing the expansion of the tortilla industry in the global market is the growing health awareness among consumers. In addition, the use of tortillas as wrappers is another element that is helping the global growth of this market.
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In addition to their low-fat content and good taste, it is important to highlight that tortillas are high in folic acid. This vitamin is essential for healthy nails, hair, and skin. Tortillas are also inexpensive and versatile, allowing them to be used in many recipes, removing any barriers to their widespread adoption as a healthy alternative to other foods that may include dangerous proteins or chemicals.
North America is likely to be the region with the fastest-growing market than the rest of the world, indicates a study by Future Market Insights.
The tortilla market is divided into corn tortillas, taco tortillas, flour tortillas, tostadas, tortilla chips, and others, based on product type. In terms of product type, the global tortilla market was dominated by tortilla chips in 2018.
For its part, the Snack Food Association reports that Americans consumed more than 8.2 million pounds of tortilla chips during the last Super Bowl alone. Overall, the tortilla chip segment increased 3.0% to almost 2 billion units, while the taco shell products segment grew 3.2% to 396,686 million units.
Tortilla chips are expected to have a significant share of the market. With the increasing number of product launches with new flavors, the industry expects the market to witness positive growth.
In addition, the nutritional value of the higher carbohydrate tortilla makes it a potential substitute for snacking.
A report in the trade publication Snack Food & Wholesale Bakery agrees. Alissa Bessette, brand manager for UNFI, Providence, RI, said more and more consumers better understand the calories, carbohydrates, and other nutrients found in tortillas.
“If we look at the entire tortilla category, we can clearly see that consumer interest is leaning toward healthier tortillas. For example, the fastest-growing tortilla segment is lower carbohydrate flour tortillas, which grew by more than 15% last year, a significantly higher rate than the overall category. Consumer interest in low-carb items remains high, as several diets, including Keto and Weight Watchers, rely on counting the number of carbohydrates in a meal to adhere to the diet.”