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Asia Pacific Tortilla Market Share

ID: MRFR//3720-CR | 80 Pages | Author: Snehal Singh| January 2018

The Asia Pacific Tortilla Market is a vibrant and diverse landscape where market share positioning strategies play a pivotal role in shaping the success of various brands. One fundamental strategy employed by companies in this market is flavor customization. Recognizing the diverse culinary preferences across the region, brands develop a variety of tortilla options that cater to local tastes. Whether it's adapting to regional spices, incorporating traditional flavors, or experimenting with fusion cuisines, customization allows brands to connect with consumers on a personal and cultural level.
Pricing strategies are another crucial aspect of market share positioning. Brands often adopt a flexible pricing approach, balancing affordability and perceived value. Some target the premium segment, emphasizing high-quality ingredients and artisanal crafting processes, while others focus on providing budget-friendly options to capture a wider consumer base. Striking the right balance ensures that brands are competitive in both high-end culinary experiences and everyday meals, thereby securing a diverse market share.
Distribution channels play a significant role in reaching consumers across the expansive Asia Pacific region. Brands strategically choose their distribution partners to ensure widespread availability. Whether through supermarkets, local grocery stores, or e-commerce platforms, an effective distribution strategy contributes to a brand's visibility and accessibility. In some cases, partnerships with local retailers or collaborations with popular food outlets can enhance a brand's presence and appeal.
Innovation remains a driving force in the Asia Pacific Tortilla Market. Brands invest in research and development to introduce novel tortilla varieties, incorporating unique ingredients, textures, or shapes. Innovation not only attracts adventurous consumers seeking new gastronomic experiences but also positions the brand as a trendsetter in the market. Staying attuned to evolving food trends and dietary preferences is key for companies aiming to maintain a competitive edge and grow their market share.
Marketing and branding strategies are paramount in capturing consumer attention and loyalty. Effective communication of a brand's story, values, and commitment to quality can create lasting connections with consumers. Social media, influencer partnerships, and engaging advertising campaigns are commonly used to enhance brand visibility. Brands often highlight their sourcing practices, sustainability initiatives, or cultural authenticity to differentiate themselves and build a unique market position.
Global market expansion is a strategy embraced by some brands to increase their market share. Identifying and entering new markets within the Asia Pacific region allows companies to diversify their consumer base and adapt to varying preferences. Customizing products to suit local tastes and collaborating with regional partners can be instrumental in successfully establishing a presence in diverse markets.
Consumer education is an essential strategy that is sometimes overlooked. Brands invest in educating consumers about the versatility of tortillas, providing recipe ideas, and showcasing their adaptability to different cuisines. By creating awareness and enhancing the perceived value of tortillas, companies can influence consumer preferences and expand their market share.

Asia Pacific Tortilla Market Scenario:


Asia Pacific Tortilla Market is projected to register a CAGR of 6.2 % and reach a value of USD 2,997.2 million by 2032.


The tortilla is a baked bread, which is primarily prepared either from corn or wheat. The nutritious value of the tortilla makes it a potential replacer for bread. It is extensively consumed as a convenience food owing to its ease of preparation. They are available in different types including tortilla mix, pre-cooked, frozen, and tortilla chips.


High consumers’ inclination towards the adoption of healthy convenience food has encouraged the demand for bread alternatives in the Asia Pacific countries. Thus, the sale of corn-based tortilla is experiencing a surge. Additionally, to expand their market share, the manufacturers are highly focused on bringing innovations into their product line to generate high revenues.


Manufacturers are found to fortify tortillas with fiber and flaxseeds to increase its nutrient content. This strategy has found to gain the attention of mass consumers, thereby further increasing its sale. Consumers evolving appetites and rising demand for healthier alternatives are supporting the sale of the product in this region. The common trend used by tortilla manufacturers to extend their consumer base was found to be the addition of chia, flax, daikon radish, and broccoli seeds into the product, which has gained consumers attention towards their offerings and increased its sale.


However, the gap in the demand and supply of corn is likely to hamper the prices of corn-based tortilla. Several countries are experiencing the phase of fluctuations in the supply of corn due to climatic conditions. This has led to an uncertain rise and fall in the prices of corn. These sudden changes in the supply of corn due to abnormal climatic conditions affect the production of tortilla which indeed leads to fluctuation in the prices of the product. These factors are likely to hamper the growth of the Asia Pacific Tortilla Market.


Regional Analysis:


The Asia Pacific tortilla market is segmented into China, India, Japan, Indonesia, Thailand, Vietnam, Australia & New Zealand, Republic of Korea, and Rest of Asia Pacific. Among these, China is projected to retain its dominance over the forecast period owing to healthy economic growth and increasing consumption of tortilla. China is estimated to reach USD 580.96 million by 2023. However, Australia & New Zealand are projected to grow at a moderate CAGR of 2.88% during the forecast period 2017-2023.


Segments:


The Asia Pacific tortilla market is segmented on the basis of product types such as tortilla mix, pre-cooked tortilla, frozen tortilla, and tortilla chips. The pre-cooked tortilla segment is projected to account maximum market proportion and is projected to grow at a CAGR of 2.92% during the forecast period. Moreover, China is dominating the market consumption of pre-cooked tortilla.


The Asia Pacific tortilla market has been segmented on the basis of sources such as corn, and wheat. Among both, the sources corn is estimated to witness the highest growth at a CAGR of 2.43% during the forecast period of 2017-2023. However, it is observed that the wheat source segment is growing exponentially at a CAGR of 3.23% over the forecast period.


Furthermore, based on the claim, the Asia Pacific tortilla market has been segmented into gluten-free, low-carb, and others. The low-carb segment is anticipated to be the fastest growing segment at a CAGR of 3.03% over the review period. Increasing obese population is the major factor driving the growth of this segment. On the basis of the distribution channel, store-based distribution channel is dominating the market, which is holding a leading share of 90% of the market based on the one-stop shopping experience.


Key Players:


Some of the key players profiled in the Asia Pacific tortilla market: Tyson Foods, Inc. (U.S.), Gruma SAB de CV (Mexico), Grupo Bimbo SAB de CV (Mexico), General Mills, Inc. (U.S.), Azteca Foods Inc.(U.S.), Ole Mexican Foods Inc. (U.S.), Grupo Liven, S.A. (Spain)


Target Audience:



  • Asia Pacific tortilla manufacturers

  • Foods industry

  • Raw material suppliers

  • End users

  • Retailers and wholesalers

  • E-commerce companies

  • Traders, importers, and exporters


Key Findings:



  • China is estimated to retain its dominance during the forecast period and is expected to grow at a substantial CAGR of 2.67%. However, Australia & New Zealand is projected to witness substantial growth at a CAGR of 2.88% during the forecast period of 2017-2023.

  • Asia Pacific tortilla manufacturers find massive opportunity in China owing to the huge demand for tortilla as a convenience food from the food industry.


Country Analysis of Asia Pacific Tortilla Market Development and Demand Forecast to 2023 Market


As per the MRFR analysis, the Asia Pacific tortilla market is expected to reach USD 2,001.18 million by end of the year 2023 at a CAGR of 2.52% during the forecast period.


The reports also cover country-level analysis:


Asia Pacific

  • China

  • India

  • Japan

  • Australia & New Zealand

  • Indonesia

  • The Republic of Korea

  • Thailand

  • Vietnam

  • Rest of Asia Pacific

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