Tortilla Market

GCC Tortilla Market

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  • 11-11-2021
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Anuradha

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GCC Tortilla Market Outlook 2031:

The GCC tortilla market size was valued at USD 791.60 Million in 2022 and is expected to reach USD 1.82 Billion by 2031 projected to expand at a CAGR of 9.7% during the forecast period, 2023 – 2031.

Factors such as the rising healthy snacking, fast food with delicious taste, also the rise in frozen food are expected to drive the market. The GCC tortilla market is expected to increase due to favorable socioeconomic and demographic variables such as urbanization, population expansion, disposable incomes, and a rise in the standard of life. Rise in demand for healthy and nutritious snacks has been an aspect that is driving the tortilla market.

GCC Tortilla Market Outlook

Tortillas made from corn or wheat are abundant in protein, vitamins, and minerals, are a staple diet for people, and are now gaining appeal in other parts of the world as well. Tortillas have largely replaced white sandwich bread in many parts of the world, as they are regarded as a healthier alternative to bread, which is frequently made from refined flour, which is bad for the gut.

GCC Tortilla Market Macro-Economic Factor

Urbanization

Urbanization is one of the major factors contributing to the desertion of rural areas and the agricultural lifestyle in favor of improved conditions and industrial jobs. Increasing urbanization and changing lifestyle lead to frequent consumption and purchasing of tortilla snacks, which is anticipated to fuel the demand for fresh tortillas, thus boosting the market during the forecast period.

Packaged food industry

Changing lifestyles, the convenience of consumption, and increased health awareness are the main factors driving the packaged food industry. The benefits of packaged food are many, including easy handling, cooking and consumption, and free from external tampering. Growing demand for packaged food by consumers, owing to the rapid pace of life and changing eating habits, is expected to have a significant impact on the market.

Product Development

In the present scenario, consumers want food that is convenient, of good quality, and healthy and safe, yet provides diversity in terms of new flavors, and are good value for money. Product development in the food industry must meet the diverse needs of consumers, otherwise, companies are expected to lose the market share.

The industry meets the needs of consumers in many ways, including providing tortillas which are ready to be used as a food ingredient by food processors and the fast food sector; developing products that meet the needs of the population which undergoes demographic changes; developing products with reduced fat, salt, and sugar; and many more.

GCC Tortilla Market Dynamics

Drivers

The various application of tortillas as packaging materials in the food and beverage industry is expected to promote the development of the GCC market. The falling prices of wheat and corn, the main ingredients of tortillas, are expected to drive demand for tortillas, thereby driving the growth of the GCC market. In addition, the growing demand for Mexican food in other parts of the world is expected to boost the demand for tortillas, which in turn is expected to promote the growth of the GCC tortilla market.

Rapid urbanization, coupled with changes in lifestyle, has led to an increasing demand for the mobile food category, which drives demand for tortillas in the Gulf Cooperation Council market. In addition, it is expected that during the forecast period, the addition of delicious alternatives, such as sweet potato tortillas, low-carbohydrate flour tortillas, and two flour tortillas with added calcium and vitamin D, will promote the development of the GCC market.

Restraints

The tortilla market is growing rapidly; however, some factors restrict the growth of this market, including the availability of substitutes such as brown bread and whole wheat bread in the tortilla industry. Another factor that restricts the growth of this market is the low awareness of the importance of the nutritional value of tortilla products.

Opportunity

Increasing adoption of multichannel by key companies is expected to provide growth opportunities to the companies and expand the consumer base. The online platform or the e-commerce channel is expected to have a positive impact on the growth and revenue generation of companies. Tortilla manufacturing companies can enter into partnerships with specialty retailers in order to distribute their products and expand their consumer base.

The e-commerce industry vertical is expected to offer fruitful growth opportunities. Many customers across the world prefer services provided by e-commerce, such as 24/7 customer care service, product offerings across broad categories, relevancy to choose products, and others. With these benefits, convenience.

Scope of the GCC Tortilla Market Report:

The report on the global GCC tortilla market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

GCC Tortilla Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016 – 2021

Forecast Period

2023–2031

Segmentation

Product Type (Tortilla Chips, Taco Shells, Tostadas, Flour Tortillas, Corn Tortillas), Source (Corn and Wheat), Processing Type (Fresh and Frozen), and Distribution Channel (Retail and Food Services)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

La Tortilla Factory, Tyson Foods, Inc., Hain Celestial Group, Senor Pepe's Mexican Foods, Others.

GCC Tortilla Market Segmental Outlook

Based on product types, the GCC tortilla market is divided into tortilla chips, tostadas, flour tortillas, taco shells, and corn tortillas. The tortilla chips segment is expected to expand at a CAGR of 9.9% during the forecast period, due to rising consumption of snack-based meals. Furthermore, the accessibility of these chips in different flavors and several variants is anticipated to propel the tortilla chips market.

GCC Tortilla Market Product Type

In terms of sources, the GCC tortilla market is segmented into corn and wheat. The corn segment is expected to expand at a CAGR of 10.3% during the forecast period, as it delivers fiber, whole grains, and other nutrients while being low in fat and calories. 100% corn tortillas are safe for those with celiac disease or gluten intolerance.

In terms of Processing type, the GCC tortilla market is segmented into fresh and frozen. The frozen segment is expected to expand at a CAGR of 9.6% during the forecast period, owing to increasing consumer preference and the availability of convenience foods, frozen items are seeing an increase in demand as they take less time and effort to prepare than fresh dishes.

GCC Tortilla Market Processing Type

Based on distribution channels, the GCC tortilla market is divided into retail and food service. The food service segment is expected to expand at a CAGR of 9.4% during the forecast period, due to the growing popularity of on-the-go food items and speedy home delivery models that provide convenience, ready-to-eat, and low-cost meal delivery options, online food delivery services are becoming more popular.

Based on Country, the GCC tortilla market is divided into Saudi Arabia, UAE, Qatar, Rest of GCC. The UAE is expected to expand at a CAGR of 9.6% during the forecast period, due to tourism and there are several restaurants, international franchises, and cafés are opening which offers a variety of tortilla and innovative ambiences.

GCC Tortilla Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the GCC Tortilla Market
  • Historical, Current, and Projected Market Size in terms of Value
  • Potential & Niche Segments Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on GCC
  •  Tortilla Market Performance

Segments

Product Type

  • Tortilla Chips
  • Taco Shells
  • Tostadas
  • Flour Tortillas
  • Corn Tortillas

Source

  • Corn
  • Wheat

Processing Type

  • Fresh
  • Frozen

Distribution Channel

  • Retail
    • Hypermarket/Supermarket
    • Convenience Stores
    • Specialty Retail Stores
    • Other Offline Channel
    • Online
  • Food Services
    • Offline
    • Online

Key Market Players Profiled in the Report

  • La Tortilla Factory
  • Tyson Foods, Inc.
  • MF Food
  • Cornitos
  • Hain Celestial Group
  • Kuwait Indo Trading Co.
  • Notions Group
  • Señor Pepe's Mexican Foods
  • Oman Foodstuff Factory LLC.
  • National Food Industries

Competitive Landscape

Top players in the market include La Tortilla Factory, Tyson Foods, Inc., Hain Celestial Group, Senor Pepe's Mexican Foods, Others. These companies are considered as key manufacturers of GCC Tortilla based on their revenue, product offerings and supply chain management system. The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where there is potential opportunity for the GCC Tortilla market.

GCC Tortilla Market Key Players

Video Summary for Tortilla Market

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tortilla Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Tortilla Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Tortilla Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Tortilla Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 GCC Tortilla Market Size & Forecast, 2018-2028
      4.5.1 Tortilla Market Size and Y-o-Y Growth
      4.5.2 Tortilla Market Absolute $ Opportunity
   4.6 Pricing Analysis & Forecast, By Product Type, 2018-2028
   4.7 Consumer Behavior Analysis
   4.8 Supply Side Trends
   4.9 Trends That Are Shaping Food Consumption
   4.10 Challenges Faced by Tortilla Manufacturers
   4.11 Solutions to Tortilla Manufacturing Challenges
   4.12 The Suite Of Tortilla Solutions
Chapter 5 GCC Tortilla Market Analysis and Forecast By Product Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Product Type
      5.1.2 Basis Point Share (BPS) Analysis By Product Type
      5.1.3 Absolute $ Opportunity Assessment By Product Type
   5.2 Tortilla Market Size Forecast By Product Type
      5.2.1 Tortilla chips
      5.2.2 Taco shells
      5.2.3 Tostadas
      5.2.4 Flour tortillas
      5.2.5 Corn tortillas
   5.3 Market Attractiveness Analysis By Product Type
Chapter 6 GCC Tortilla Market Analysis and Forecast By Source
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Source
      6.1.2 Basis Point Share (BPS) Analysis By Source
      6.1.3 Absolute $ Opportunity Assessment By Source
   6.2 Tortilla Market Size Forecast By Source
      6.2.1 Wheat
      6.2.2 Corn
   6.3 Market Attractiveness Analysis By Source
Chapter 7 GCC Tortilla Market Analysis and Forecast By Processing Type
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Processing Type
      7.1.2 Basis Point Share (BPS) Analysis By Processing Type
      7.1.3 Absolute $ Opportunity Assessment By Processing Type
   7.2 Tortilla Market Size Forecast By Processing Type
      7.2.1 Fresh
      7.2.2 Frozen
   7.3 Market Attractiveness Analysis By Processing Type
Chapter 8 GCC Tortilla Market Analysis and Forecast By Distribution Channels
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities By Distribution Channels
      8.1.2 Basis Point Share (BPS) Analysis By Distribution Channels
      8.1.3 Absolute $ Opportunity Assessment By Distribution Channels
   8.2 Tortilla Market Size Forecast By Distribution Channels
      8.2.1 Retail
         8.2.1.1 Hypermarket/Supermarket
         8.2.1.2 Convenience Stores
         8.2.1.3 Specialty Retail Stores
         8.2.1.4 Other Offline Channel
         8.2.1.5 Online
      8.2.2 Food Services
         8.2.2.1 Offline
         8.2.2.2 Online
   8.3 Market Attractiveness Analysis By Distribution Channels
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 GCC Tortilla Analysis and Forecast
   10.1 Introduction
   10.2 GCC Tortilla Market Size Forecast by Country
      10.2.1 Saudi Arabia
      10.2.2 UAE
      10.2.3 Qatar
      10.2.4 Rest of GCC
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
Chapter 11 Competition Landscape
   11.1 Tortilla Market: Competitive Dashboard
   11.2 GCC Tortilla Market: Market Share Analysis, 2020
   11.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      11.3.1 La Tortilla Factory
      11.3.2 Hain Celestial Group
      11.3.3 Tyson Foods, Inc. 
      11.3.4 Señor Pepe's Mexican Foods
      11.3.5 Cornitos
      11.3.6 Kuwait Indo Trading Co
      11.3.7 MF Food
      11.3.8 National Food Industries
      11.3.9 Notions Group
      11.3.10 Oman Foodstuff Factory LLC.

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