Market Research Future (MRFR) has published a cooked research report on the “Tortilla Chips Market” that contains information from 2019 to 2032. The Tortilla Chips Market is estimated to register a CAGR of 5.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Tortilla Chips Market— Aranda's Tortilla Company, Incorporated, Arca Continental S.A.B. de C.V, Catallia Mexican Foods LLC, El-Milagro Inc., Gruma, S.A.B. de C.V., Herr Foods Incorporated, Intersnack Group GmbH & Co. KG, La Tortilla Factory Inc., Pepsico Inc., Target Brands Inc., Tyson Foods Inc., Xochitl Inc.
Tortilla Chips Market Highlights
The global Tortilla Chips Market is accounted to register a CAGR of 5.00% during the forecast period and is estimated to reach USD 56.62 billion by 2032.
The rising demand for ready-to-eat snacks in the global market, spurred by the expanding working population and the cost-effectiveness compared to traditional meals, is driving market growth. Additionally, the introduction of new products by leading manufacturers offering healthy options and a variety of flavors is a crucial factor contributing to the expansion of the tortilla chips market.
Segment Analysis
The global Tortilla Chips Market has been segmented based on Nature, Type, and Distribution Channel.
Based on Nature, the market is segmented into Organic and Conventional. The Conventional segment was attributed to holding the largest market share in 2023. Consistent high production yields and the cost-effectiveness of conventional farming methods guarantee a reliable provision of these chips, meeting the robust consumer demand. Their entrenched presence and widespread popularity in supermarkets, convenience stores, and various retail channels reinforce their dominant position in the market. Additionally, consumer preference for conventional tortilla chips, influenced by taste preferences and established brands, further drives their sales. Furthermore, marketing approaches like temporary flavor releases and promotional offers are effective strategies for enhancing consumer engagement with conventional tortilla chips.
Based on the Type, the Tortilla Chips Market has been segmented into Baked Tortilla Chips and Fried Tortilla Chips. The Fried Tortilla Chips segment was expected to hold the largest market share in 2023. The rising global popularity of Mexican and Tex-Mex cuisines has spurred demand for these chips. Moreover, increasing preference for healthier snack choices has boosted the demand for baked or fried products crafted from whole-grain or organic ingredients.
Based on the Distribution Channel, the Tortilla Chips Market has been segmented into Online and Offline. The Offline segment was expected to hold the largest market share in 2023. Brick-and-mortar retail outlets, including supermarkets, convenience stores, and grocery stores, maintain a robust presence and serve as convenient shopping destinations for consumers. These physical stores provide instant access to tortilla chips, allowing customers to promptly fulfill their snack needs. Additionally, the offline channel facilitates a tactile shopping experience, enabling consumers to physically inspect the packaging, review product labels, and compare various brands and types of tortilla chips. This hands-on engagement can sway purchasing choices and instill confidence in product quality.
Regional Analysis
The global Tortilla Chips Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Tortilla Chips Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Tortilla Chips Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Tortilla Chips Market comprises the Middle East, Africa, and Latin America.
The largest market share for the Tortilla Chips Market was maintained by the North American regional sector. The tortilla chips industry in North America is propelled by the expanding diversity of diets and the increasing demand for international cuisines. According to Grand Canyon University's 2023 study, Mexican cuisine garnered the highest number of 5-star restaurant reviews in 44 out of 50 analyzed cities, notably including Phoenix, Arizona. Several cities in the Northeast and Midwest stand out as hubs for Italian dining, such as Hartford, Connecticut, Cleveland, Ohio, and Boston, Massachusetts. Austin, Texas, ranked as the top city with 5.36 5-star restaurants per 100,000 residents across 11 different cuisines, particularly excelling in Mexican cuisine. Tex-Mex, a derivative of authentic Mexican cuisine influenced by Tejano culture and Northern Mexican immigrants, holds significant popularity in Texas. Tortilla chips have become a staple in Mexican and Latin American cuisines, appreciated for their versatility in various dishes and snacks. Furthermore, the growing emphasis on health-conscious eating habits has led consumers to opt for tortilla chips as a healthier alternative to traditional potato chips, as they are commonly made from corn and are perceived as a healthier grain option.
Moreover, the Europe market has been persistently growing over the forecast period. Numerous factors have fueled the expansion of the European tortilla market, including shifts in consumer preferences, cultural influences, and a growing population of health-conscious individuals. The increasing fascination with diverse culinary experiences, coupled with the popularity of Mexican cuisine, has propelled the demand for tortilla products. According to a survey conducted by the prominent food magazine Taco and Piña, 67% of Europeans have sampled Mexican cuisine and expressed enjoyment. Additionally, 82% of respondents expressed a desire to explore more Mexican dishes in the future. Consumers seek convenient and adaptable options suitable for various culinary creations, including wraps, tacos, quesadillas, and burritos.
The Asia Pacific region is poised for further expansion in the tortilla market, driven by escalating demand for the product as both a fundamental ingredient and a popular snack. As Asian consumers exhibit a growing inclination towards culinary experimentation, they are embracing the flavors and adaptability of tortilla chips in their gastronomic pursuits. Concurrently, the influence of Western food culture and the adoption of global snacking trends have contributed to the surge in demand for tortilla chips. With substantial economic growth, urbanization, and globalization, India's dietary landscape has undergone a significant transformation away from traditional staples. There's been a notable shift towards a more Westernized diet, with burgers and sandwiches leading the Quick Service Restaurant (QSR) format in FY20, valued at US$ 700.89 million (Rs. 58 billion), followed by pizza at US$ 604.21 million (Rs. 50 billion). Conversely, Indian cultural cuisine accounted for US$ 338.36 million (Rs. 28 billion). The convenience and portability of tortilla chips make them an attractive choice for individuals with hectic lifestyles, catering to on-the-go snacking preferences.
Furthermore, the rest of the world's Tortilla Chips Market is divided into the Middle East, Africa, and Latin America. The burgeoning food service industry, encompassing restaurants, cafes, and fast-food chains, has played a pivotal role in driving the growth of the tortilla chips market. These establishments frequently incorporate tortilla chips into their menus, featuring them as appetizers, sides, or even main dishes, thereby enhancing consumer exposure to the product. According to data from the global vegan organization Veganuary, which has been active in Latin America since 2020, approximately 5%, 7%, and 8% of consumers from Chile, Argentina, and Mexico, respectively, have embraced veganism. Moreover, Sociedade Vegetariana Brasileira, a non-profit organization advocating for veganism and sustainability, reports that around 3,523 food service establishments in Brazil, including restaurants and quick-service restaurants, offer at least one vegan product on their menus.
Key Findings of the Study
- The global Tortilla Chips Market is expected to reach USD 56.62 billion by 2032, at a CAGR of 5.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the growing number of supermarkets and hypermarkets, as well as online grocery stores, in the region.
- Based on Nature, the Conventional segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.
- Aranda's Tortilla Company, Incorporated, Arca Continental S.A.B. de C.V, Catallia Mexican Foods LLC, El-Milagro Inc., Gruma, S.A.B. de C.V., Herr Foods Incorporated, Intersnack Group GmbH & Co. KG, La Tortilla Factory Inc., Pepsico Inc., Target Brands Inc., Tyson Foods Inc., and Xochitl Inc. are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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