The Nachos Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s Nachos Global Market Report for 2024, the nachos market has exhibited robust growth in recent years, with its valuation escalating from $1.66 billion in 2024 to $1.79 billion in the same year, boasting a noteworthy compound annual growth rate (CAGR) of 7.9%. This expansion during the historical period can be primarily attributed to evolving cultural preferences, the pervasive influence of casual dining and fast-food culture, a plethora of diverse flavor innovations, heightened patronage during cinematic and sporting events, and the prevailing snacking culture.
Projections indicate a continued surge in the nachos market size over the forthcoming years, anticipated to ascend to $2.34 billion by 2028, driven by a sustained compound annual growth rate (CAGR) of 6.9%. The envisaged growth in the forecast period can be ascribed to the burgeoning demand for healthier alternatives and ingredients, the emergence of plant-based and specialty nacho offerings, the pervasive influence of e-commerce platforms and home delivery services, the integration of global fusion flavors, and an intensified focus on authenticity within culinary experiences. Notable trends anticipated during this forecast period encompass a continued emphasis on flavor innovation, the integration of health-conscious and specialty ingredients, the convergence of global fusion cuisines with regional variations, the proliferation of premium and gourmet nacho assortments, as well as the rising popularity of plant-based and vegan nacho alternatives.
The growing demand for convenience foods is expected to propel the growth of the nacho market going forward. Convenience food is a term that refers to pre-packaged or pre-cooked food items that are intended to be quickly and conveniently consumed or made. Nachos are commonly used as a convenience food in a number of ways, as they are simple to prepare, adaptable, and excellent for quick snacks or casual evenings. For instance, in July 2024, according to the data published by Food and Drinks Malaysia by SAIL Group, a Malaysia-based food and beverage exhibition, the convenience food sector increased by 3.0% in volume in 2024 and is expected to reach 7,829.2 kg by 2027. Furthermore, in Malaysia, the revenue from convenience food amounts to US$31.84 billion in 2022, which is expected to increase by 5.49% during 2022–2027. Therefore, the growing demand for convenience foods is driving the growth of the nacho market.
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The nachos market covered in this report is segmented –
1) By Type: Fried, Baked
2) By Distribution Channel: Hypermarkets And Supermarkets, Departmental Stores, Online Retail, Other Distribution Channels
3) By Application: Restaurant, Household
Top 5 Major Players:
Nestle SA
Frito-Lay Inc
Grupo Bimbo S.A.B. de C.V
Conagra Brands Inc
Arca Continental S.A.B
Key players within the nachos market have honed their focus on the development of more tantalizing products, aimed at catering to expanding consumer bases, driving heightened sales volumes, and consequently, bolstering revenue streams. Notably, tastier iterations of nachos exemplify an irresistible allure, characterized by the fusion of Mexican cuisine’s quintessential tortilla chips, generously smothered with cheese or cheese-based sauces, and an array of complementary garnishes. A case in point is the launch of Kellogg Company’s Pringles Scorchin’ Wavy Loaded Nachos in November 2021. These chips, distinguished by their textured wavy surface, offer an enhanced crunchiness, complemented by an infusion of spicy jalapeño and cayenne pepper flavors. The bold and tangy profile, coupled with the satisfying crunch, positions them as a sought-after snack option. This innovative creation, featuring an intensified fusion of cayenne and jalapeño for an added kick, a textured wavy surface for heightened crunch, and an exhilarating flavor profile, underscores Pringles’ commitment to culinary innovation. By introducing the Scorchin’ Wavy Loaded Nachos variant, Kellogg’s endeavors to fortify its standing as an industry leader in the realm of snack foods, capturing the loyalty of consumers who gravitate towards snacks imbued with robust flavors and distinctive textural dimensions.
The nachos market report table of contents includes:
1. Executive Summary
2. Nachos Market Characteristics
3. Nachos Market Trends And Strategies
4. Nachos Market – Macro Economic Scenario
5. Global Nachos Market Size and Growth
….
32. Global Nachos Market Competitive Benchmarking
33. Global Nachos Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Nachos Market
35. Nachos Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Nachos Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Nachos Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Nachos Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Nestle SA Financial Performance
Table 75: Frito-Lay Inc. Financial Performance
Table 76: Grupo Bimbo S.A.B. de C.V. Financial Performance
Table 77: Conagra Brands Inc. Financial Performance
Table 78: Arca Continental S.A.B. de C.V. Financial Performance
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