The Asia Pacific tortilla market is accounted to US$ 1,995.2 Mn in 2018 and is expected to grow at a CAGR of 4.6% during the forecast period 2019 – 2027, to account to US$ 2,972.2 Mn by 2027.
The tortilla is a thin and flatbread made up of wheat and corn. Different types of tortillas are available in the market, including tortilla chips, taco shells, tostadas, and many more. High nutritive properties associated with a tortilla is expected to fuel the market growth. China is dominating the Asia Pacific tortilla market, followed by Japan. The food industry in China is changing rapidly. As the population continues to grow, foodservice operators have to meet new consumer demands as tastes are changing and becoming westernized. Furthermore, new technology is being introduced to the foodservice industry. The use of modern technology is thriving in the Chinese food industry, with foodservice operators using e-menus, mobile ordering, online reservations, and payment apps. The foodservice industry plays a vital role in the high consumption of tortillas in the Asia Pacific region.
The Asia Pacific Tortilla Market is growing along with the Food and Beverages industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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Consumers are educated on the various harmful effects related to health and the environment due to the use of synthetic products. Increasing awareness about the side-effects of antibiotics and hormones that are present in animal-based products is one of the critical factors that has been escalating the demand for plant-based products. Due to this, consumers are more inclined towards the products containing natural ingredients. Food and beverage manufacturers focus on market trends and consumer requirements to develop innovative products and increase the sales of their entire product line. Therefore, in the past few years, several companies have launched innovative tortilla products that offer healthy options to consumers. Manufacturers offer different types of tortilla, such as tortilla chips, taco shells, tostadas, flour tortillas, and corn tortillas, for consumers.
These factors are expected to offer broad growth opportunities in the Food and Beverages industry and this is expected to cause the demand for Asia Pacific Tortilla Market in the market.
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ASIA PACIFIC TORTILLA MARKET SEGMENTATION
Asia Pacific Tortilla Market – By Product Type
- Tortilla chips
- Taco shells
- Flour tortillas
- Corn Tortilla
Asia Pacific Tortilla Market – By Nature
Asia Pacific Tortilla Market – By Source
Asia Pacific Tortilla Market – By Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Food Service
Asia Pacific Tortilla Market – By Country
- Rest of APAC
- Gruma, S.A.B. de C.V
- PepsiCo Inc.
- Aranda’s Tortilla Company, Inc.
- Conagra Brands Inc.
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