This article is written and sponsored by Future Market Insights.
Whole wheat tortillas, tortilla chips, and corn tortillas are taking the food industry by storm. Along with the rising popularity of Mexican cuisine, the healthier nutritional profile of tortillas has made them increasingly popular with younger populations.
A spike in tortilla demand can be expected in 2022, with customers looking for healthier, more convenient food options that cater to their fast-moving lifestyles. Furthermore, a shift in consumer preferences towards healthier food items in the wake of pandemic will create significant business opportunities for companies operating in the tortilla market. In fact, Future Market Insights’ tortillla market report forecasts that global tortilla sales will rise 3.4% to around $26 billion by the end of 2022.
Tortillas, thin flatbread bread rich in protein, vitamins and minerals, are used to make burritos, tacos, and enchiladas. They are an integral part of Mexican cuisine and a staple food of Hispanic community.
While traditional tortillas are made from corn and wheat flour, tortilla manufacturers are introducing new products, including cauliflower, vegan, and carb smart versions to attract health conscious and vegan customers – especially as more and more consumers show an inclination towards plant-based diets.
Big brands offering KETO tortillas
Top market players operating in tortilla market are Grupo Bimbo SAB de CV, General Mills, Aranda’s, Tortilla Company Inc., Ole Mexican Foods Inc., Easy Foods Inc., Gruma SAB de CV, GRUMA, PepsiCo Inc., La Tortilla Factory, Catallia Mexican Foods, Liven S.A., Tyson Foods Inc., and Azteca Foods Inc.
To support health conscious and vegan consumers who want to enjoy easy-to-cook foods while on a gluten-free or low-carb diet, brands are offering KETO tortillas and tortilla chips made from almond flour.
For example, Nature’s Eat is selling all-natural grain-free tortilla chip called Nutchos, which are cooked in 100% almond oil and contain 33% less carbs. They are also packed with plant-based proteins and are vegan and keto friendly.
Maria and Ricardo launched almond flour keto tortillas in different flavors, including flaxseed, sea salt, and “all seasonings.”
Hilo Life, which falls under PepsiCo’s Hive Banner, extended its keto-friendly product portfolio by introducing keto tortilla chips made from defatted almond flour.
Asia Pacific Seen as a Key Market
Despite North America being the fastest growing market, Asia Pacific will emerge as a new hotspot in the coming years. Market players are eyeing investments in in Asia Pacific countries like India, China, Australia, and New Zealand, as these countries have exhibited tremendous demand of quick food items and convenience food.
Further, the combination of an increasing number of people living busy, urban lifestyles and the growing popularity of cross-cultural cuisine will offer lucrative business opportunities for tortilla manufacturers.
Mexican cuisine has piqued the interest of Indian food bloggers as it shares similarities with Indian cuisine. Indian homes are accustomed to the concept of flatbread, such as wheat chapatti. Tortilla is thus introduced as a cross dish between Mexican and Indian cuisine. Driven by these trends, India is likely to hold around 25% of South Asia tortilla market share by year’s end.
Fast-food restaurants are also incorporating tortillas in the form of wraps as customers are opting for wraps and tacos over conventional burgers. Collaboration between manufacturers and fast-food restaurant owners can be expected in coming years.
Manufacturers are also introducing gluten-free, organic, low-carb tortillas to cater the increasing demand of health-conscious consumers in this region. To remain competitive in the market, companies must rely on extensive R&D activities and form partnerships to survive in the market.
How to win in the market
Tailored solutions for consumer taste preference: Despite steady sales of tortillas, manufacturers must streamline their products according to changing consumer preference regarding ready-made meals. Sales of corn tortillas will rise, as demand for bread substitutes increase in newer markets of the Asia Pacific region.
Portfolio diversification: Manufacturers must diversify their product portfolio to gain market share. Adding chia, flax, radish and broccoli seeds for additional nutrition will attract more consumers and ultimately increase sales.
Go online: With consumers unable to visit all distribution channels amidst pandemic, manufactures must collaborate with online retail platforms to make product more accessible.
Clean-label ingredient to earn consumer faith: Manufacturers must offer clean-label ingredients to grab the attention of healthy-lifestyle consumers and list them at the back of the product to gain consumer trust.
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