The tortilla
chips market research report examines the
key questions around the implications of COVID-19 and provides a recovery
analysis and outlook for the market in focus. The market has witnessed a
positive impact due to the COVID-19 situation. The research analysts at
Technavio expects the tortilla chips market to grow by USD 3.16 billion during
the forecast period, accelerating at a CAGR of over 5%.
For the Complete Insights on COVID-19
Pandemic Crisis and Recovery Analysis of the Tortilla Chips Market. Download free report sample
Tortilla Chips Market Segmentation Analysis by Type
- MFICFT
- WFOIT
MFICFT is the leading segment in the tortilla chips market and the
market growth in this segment is expected to be significant in the coming
years. MFICFT is a staple grain produced and consumed largely across the globe.
It has been witnessing incremental growth in recent years due to changing taste
preferences in regions such as Europe and North America. This report provides
an accurate prediction of the contribution of all the segments to the growth of
the tortilla chips market size.
Tortilla Chips Market Regional Analysis
- The report covers regional
analysis for APAC (India, China, Japan, and South Korea), Europe (Germany,
France, UK, Italy), North America (US, Canada, Mexico), South America
(Brazil, Argentina, Columbia), and MEA (UAE, Saudi Arabia, Iran).
- 57% of the growth will
originate from the North American region.
- Factors such as the constant
effort by leading vendors such as PepsiCo to provide innovative products
containing ethnic and exotic flavors and the rising popularity of organic,
gluten-free tortilla chips will significantly drive tortilla chips market
growth in this region over the forecast period.
- The US, Mexico, and Canada
are the key markets for tortilla chips in North America.
Tortilla Chips Market: Key Market Drivers
Tortilla chips market is driven by the growing awareness of the health
benefits of tortilla chips. Tortilla chips not only form a delicious snacking
option but are also rich in nutrients. The main ingredient used in the
production of tortilla chips is corn. Corn is the rich source of many
antioxidants, which are highly beneficial for the human body. Besides, the
different combinations of phytonutrients in the different varieties of corn are
linked to strong antioxidant activity. Corn is also a good source of fiber, and
therefore, tortilla chips also serve as a good appetizer. Tortilla chips also
provide the requisite amount of sodium to the body, which is essential for
maintaining the water balance in the body.
Launch of New Products with Innovative Flavors will be a Key Market
Trend
The global tortilla chips market has seen a surge in the launch of new
products containing innovative flavors over the last five years. Most of these
new products were launched in the Americas, and most of them were organic or
gluten-free due to the rising demand for such products. For instance, in August
2020, Utz Quality Foods, LLC. announced its newest snack creation: Guacamole
flavored TORTIYAHS! tortilla chips. Similarly, in April 2020, Mission Foods
launched corn strips in South East Asia and China. The corn strips snacks will
be available in Malaysia, Singapore, Thailand, and China through the company's
retail presence in these countries. Such launch of products containing unique
flavors is expected to drive the growth of the market.
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challenges, trends, and more. Request a free sample report
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