Report Ocean introduces a fresh report examining the Global Tortilla Chips Market, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the Global Tortilla Chips Market, which includes a full table of contents, over 200 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
Global Tortilla Chips Market is valued approximately USD 28.6 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.4 % over the forecast period 2022-2028.
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Tortilla Chips is a snack food made from corn tortillas. Corn tortilla are cut into triangle shape and then baked or fried to obtain chips. Tortilla Chips are said to be low in fat and calories than potato chips. These chips are widely made from corn and from wheat also. The growing expansion of global Snack Food Sector and increasing number of working people worldwide as well as recent product announcements from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – as of 2022, the revenue of global snack food segment is estimated at USD 506.20 billion, and the market is projected to grow at CAGR of 5.58% between 2022 & 2027 to reach to USD 664.10 billion. Moreover, leading market players are working towards different strategic initiatives including new product launches and acquisitions to leverage the growing demand for Tortilla Chips.
For instance, in January 2021, Pennsylvania, USA based Utz Brands Inc. completed the acquisition of Carrollton, Texas, United States based Truco Enterprises for a transaction value of USD 480 billion. Truco Enterprises is a leading seller of tortilla chips, salsa and queso under the brand name ON THE BORDER(“OTB”).
Further, in September 2021, Ontario, Canada based Kazoo Snacks launched new upcycled tortilla chips. The packaging of Kazoo Tortilla Chips is made using 40% upcycled corn germ and the new chips are vegan, kosher, gluten-free and available in three different varieties including restaurant style, bite-sized and lime zest.
Also, growing expansion online sales channels coupled with increasing emergence of quick service restaurants are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, health concern associated with fried products and availability of healthy alternatives such as Kale Chips, Zucchini chips impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Tortilla Chips Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing consumption of tortilla chips and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of the quick service restaurants and increasing penetration of online grocery stores in the region, would create lucrative growth prospects for the Tortilla Chips Market across the Asia Pacific region.
Major market players included in this report are:
- Frito-Lay, Inc.
- Mission Foods
- Truco Enterprises LP
- Herr’s
- Trader Joe’s
- GRUMA, S.A.B. de C.V.
- Target Brands, Inc.
- El Milagro, Inc.
- Utz Quality Snacks
- Brimhall Foods Company, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product
Conventional
Organic
By Distribution Channel
Online
Offline
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Comprehensive Market Insights: Delve into the depths of the Tortilla Chips Market Report to gain an all-encompassing and meticulous analysis of the market landscape. Uncover details such as market size, share, trends, and growth catalysts, which provide invaluable perspectives on both the present market scenario and its promising future prospects.
Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the Tortilla Chips market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
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Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the Tortilla Chips market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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