Tortilla Market size was valued at US$ 50.59 Bn. in 2023 and the total Tortilla revenue is expected to grow by 5.8% from 2024 to 2030, reaching nearly US$ 75.07 Bn.
Tortilla Market Overview:
The tortilla market is poised for remarkable growth in 2024, driven by increasing consumer demand for convenient, healthy, and flavorful food options. Tortillas, once a staple in Mexican cuisine, are now a favorite worldwide in various forms, from wraps and chips to gluten-free and organic varieties. The market is evolving rapidly, with major players embracing mergers, acquisitions, and strategic partnerships to expand their offerings and reach new markets. Key developments in regions such as Vietnam, Thailand, Singapore, Japan, South Korea, Europe, and the United States are fueling this growth, setting the stage for a dynamic year ahead.
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Mergers and Acquisitions in the Tortilla Market:
Mergers and acquisitions (M&A) are becoming key drivers of growth in the tortilla industry. Companies are expanding their product lines, increasing production capacity, and entering new regional markets through strategic deals.
Recent Key Mergers and Acquisitions:
In the United States: Gruma, a global leader in the tortilla market, has expanded its footprint by acquiring Mission Foods, a major player in the U.S. tortilla and snack food sector. This acquisition strengthens Gruma’s position in North America and enhances its product portfolio, including new flavors and health-conscious tortilla options.
In Europe: Don Julio Tortillas, a major player in the European tortilla market, recently acquired BFree Foods, an Irish gluten-free brand, to tap into the rising demand for gluten-free and allergen-friendly food options. This strategic move allows Don Julio to cater to the growing segment of health-conscious consumers across Europe.
In South Korea: CJ CheilJedang, a South Korean food giant, announced its partnership with Tortilla Loco, a leading Mexican restaurant chain, to co-develop ready-to-eat tortilla products. The collaboration is expected to boost tortilla consumption in the South Korean market, where Mexican food is gaining popularity.
In Japan: Kikkoman Corporation, a renowned Japanese food company, has acquired The Fresh Tortilla Co., marking its entry into the fast-growing tortilla market. This acquisition allows Kikkoman to diversify its offerings and cater to the increasing demand for Mexican-inspired cuisine in Japan.
In Thailand and Vietnam: Thai President Foods, a prominent food manufacturer in Thailand, expanded its reach into the tortilla market by acquiring Vietnam-based Tacos & More. This acquisition positions Thai President Foods to capitalize on the growing demand for international food products in Southeast Asia.
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Tortilla Market Segmentation:
by Nature
Organic
Conventional
by Processing Type
Fresh (Raw)
Frozen
The frozen segment had a market share of around in 2023 and is predicted to increase significantly during the forecast period. Frozen foods are growing more popular due to increased consumer tastes and availability, as they need less time and effort to prepare than fresh dishes. Because the frozen technique is one of the most well-established long-term preservation methods for producing high-quality, nutritious meals with an extended shelf life, frozen tortillas represent a significant portion of the global tortilla market that is rapidly expanding. This frozen process gives small businesses in underdeveloped countries another way to add value to their products in a competitive market. Fresh tortillas or an opened container of store-bought tortillas will keep in the refrigerator for roughly 10 days; considerably longer.
by Product type
Tortilla chips
Taco shells
Tostadas
Flour tortillas
Corn tortillas
Others
The tortilla chips segment is predicted to expand fast during the forecast period due to increased consumption of snack-based meals. Furthermore, the availability of these chips in a wide range of flavors and kinds is likely to boost the tortilla chips market. To differentiate their products in the market, producers have experimented with new flavors and additives. These chips, which are seasoned with herbs and spices and often served with dips, have become a popular snack around the world. The introduction of new types, as well as organic, gluten-free, and low-fat chips, has also helped to drive growth. Because of the health benefits of these chips, the tortilla chip manufacturer was able to expand into other regions. Systematic retail methods that facilitate the production of new appetizing snacks for consumers may potentially drive tortilla consumption during the forecast period.
by Source
Wheat
Corn
by Distribution channel
Hypermarkets/Supermarkets
Convenience stores
Online
Others
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Tortilla Market Key Players:
1. GRUMA
2. S.A.B. de C.V
3. Tyson Foods, Inc.
4. PepsiCo
5. Olé Mexican Foods Inc.
6. Easy Foods, Inc.
7. Mi Rancho
8. Arevalo Foods Inc.
9. Azteca Foods, Inc.
10.Rudy’s Tortillas
11.Tortilla King Inc.
12.Fiesta Tortilla Factory Inc.
13.Los Amigos Tortilla Manufacturing, Inc.
14.Rudy’s Tortillas
15.Franco Whole Foods, LLC
16.La Tortilla Factory
17.Eagle Foods Australia
18.Catallia Mexican Foods
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Key Developments by Region:
Vietnam & Thailand: In Vietnam, the tortilla market is expanding as the demand for international cuisines rises. Tacos & More in Vietnam has launched several new tortilla-based products, capitalizing on the growing trend of Mexican food. This expansion is supported by Thai President Foods’ acquisition, which aims to bring more diverse tortilla options to the Southeast Asian market.
In Thailand, tortilla consumption is on the rise as international flavors become more popular among Thai consumers. Thai President Foods is actively developing tortilla-based snack options, tapping into the growing demand for both traditional and innovative tortilla products.
Singapore & Southeast Asia: Singapore is emerging as a hub for tortilla innovation in Southeast Asia. The city-state’s growing demand for international food has encouraged the development of new, healthier tortilla varieties, including low-carb and gluten-free options. STATS ChipPAC, a Singapore-based technology company, is collaborating with food manufacturers to develop high-tech production methods for tortillas, ensuring consistent quality and reducing food waste.
Japan & South Korea: In Japan, Kikkoman Corporation’s acquisition of The Fresh Tortilla Co. signals a strategic push into the tortilla market, where Mexican food is increasingly popular. The collaboration aims to develop tortilla products that suit local tastes, such as tortillas with unique fillings like teriyaki chicken or miso-flavored wraps.
In South Korea, the partnership between CJ CheilJedang and Tortilla Loco is set to revolutionize the tortilla market, introducing ready-to-eat products that cater to the busy lifestyles of urban consumers. South Korea’s increasing interest in global cuisine and fast food options is fueling this growth.
Europe: In Europe, the demand for tortillas and tortilla-based products has been growing steadily, particularly in the United Kingdom, Spain, and Germany. Don Julio Tortillas’ acquisition of BFree Foods highlights a significant shift toward health-conscious eating. Gluten-free tortillas are becoming a staple for consumers looking for allergy-friendly alternatives, particularly in markets like the UK and Ireland.
United States: The U.S. tortilla market remains the largest globally, with innovations in flavors, textures, and packaging driving growth. The recent acquisition of Mission Foods by Gruma has allowed the company to expand its product line, offering new varieties of tortillas that cater to health-conscious and gluten-free consumers.
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Future Outlook: Key Trends Shaping the Tortilla Market
• Health-Conscious Innovations: The demand for healthier tortilla options, such as low-carb, gluten-free, and organic varieties, is shaping the market. Many players are introducing new product lines to cater to this growing consumer preference.
• Flavored Tortillas: The rise of flavored tortillas, such as herb-infused, chili, and even fusion varieties (e.g., teriyaki-flavored tortillas in Japan), is gaining momentum.
• Sustainability Focus: As consumers increasingly demand sustainable packaging and production processes, tortilla manufacturers are adopting eco-friendly practices to reduce waste and energy consumption.
• Convenient, Ready-to-Eat Products: With busy lifestyles, the demand for ready-to-eat and pre-packaged tortillas is on the rise. Companies are focusing on providing convenient, single-serve tortilla options for on-the-go consumers.
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Key Players and Their Latest Mergers & Acquisitions:
Gruma: As a dominant player in the global tortilla market, Gruma continues to expand through strategic acquisitions, such as its purchase of Mission Foods. The company is focused on expanding its presence in North America while catering to the growing demand for healthier tortilla options, including whole grain and gluten-free varieties.
Don Julio Tortillas: Don Julio Tortillas has strengthened its position in the European market with its acquisition of BFree Foods, a leading gluten-free brand. This acquisition aligns with the company’s strategy to cater to the increasing demand for allergen-free products in the European region.
CJ CheilJedang:CJ CheilJedang is a leading player in South Korea’s tortilla market and continues to expand its footprint through partnerships and joint ventures. Its collaboration with Tortilla Loco focuses on developing ready-to-eat tortilla products, positioning the company to capture a larger share of the growing Mexican food market in South Korea.
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