Corn Tortilla Market

Global Corn Tortilla Market

Corn Tortilla Market- By Nature, Product Type, Processing Type, Distribution Channel, and Region.

Market Synopsis:

The Global Corn Tortilla Market is valued at USD 15.8 Billion in the year 2021 and is projected to reach a value of USD 22.2 Billion by the year 2028. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 5.15% over the forecast period.

Corn Tortilla is a widely used baked bread that is a staple in many cuisines across the world especially Mexican. This baked bread is prepared by use of corn flour and is regarded as highly nutritious in multiple aspects. This bread is high in vitamins, minerals, and other nutritional compounds as well. Owing to its nutritional value and the ability to stay in a frozen state longer than normal bread it has gained massive popularity across the world and is expected to follow a similar trend over the forecast period as well. The market for Corn Tortilla saw a drop in 2020 as restrictions were placed across the world and production and sales were halted. The Corn Tortilla Market is expected to make a quick recovery in the post-pandemic world owing to the lifting of lockdown restrictions.

Rising demand for convenience foods and the increasing popularity of cuisine that utilize Corn Tortilla are expected to prominently drive the Corn Tortilla Market potential over the forecast period. Increasing health consciousness and rising demand for bread alternatives are other factors that will boost the Corn Tortilla Market growth in the years to come. However, the high availability of substitutes is anticipated to have a negative impact on the Global Corn Tortilla Market growth over the forecast period. Low awareness about the nutritional benefits of Corn Tortilla is also expected to hinder the Corn Tortilla Market growth.

Market Segmentation:

The Corn Tortilla Market is segmented on the basis of product Type nature, processing type and sales channel. On the basis of product type, the market is segmented into Retail Channel and Corporate Channel. On the basis of nature, the market is segmented into Organic and Conventional. On the basis of processing type, the market is segmented into Taco Shells, Chips, Wraps, Tostadas. On the basis of sales channel, the market is segmented into Online, Supermarket/Hypermarket, Convenience Stores, Other.

Based on Processing Type:

On the basis of processing type, the market is segmented into Taco Shells, Chips, Wraps, Tostadas. The tostadas segment is expected to account for a major market share followed by taco shells which are gaining massive popularity across the world as trend of tacos becomes mainstream in multiple nations.

Based on Sales Channel:

On the basis of sales channels, the market is segmented Online, Supermarket/Hypermarket, Convenience Stores, and Others. The global market for Corn Tortilla is expected to be led by sales via supermarkets and hypermarkets due to the high availability of Corn Tortilla in these establishments. Increasing sales via convenience stores will also play a crucial role in the Global Corn Tortilla Market growth through 2028.

North America to Hold a Dominant Market Stance Across the World

The market for Corn Tortilla in North America is expected to lead the global landscape. The growth can be attributed to the high consumption of corn tortillas in Mexico and the United States as the popularity of Mexican and Spanish cuisines increase in these countries. The rising availability of Corn Tortilla and increasing consumption of Corn Tortilla is expected further bolster Corn Tortilla Market potential in this region. Increasing spending capacity and rising demand for convenience foods will also favor Corn Tortilla Market potential. Changing consumer preferences will also play a major role in the Corn Tortilla Market evolution.

Competitive Landscape:

Key players operating in the Global Corn Tortilla Market include Ole Mexican Foods and others.

Segmentation of Corn Tortilla Market: