Segments - by Product Type (Tortilla Chips, Taco Shells, Tostadas, Flour Tortillas, Corn Tortillas), By Processing Type (Fresh, Frozen), By Source (Corn, Wheat), By Distribution Channels (Retail, Food Service), By GCC (Saudi Arabia, UAE, Qatar, Rest of GCC) - GCC Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
Segments - by Product Type (Tortilla Chips, Taco Shells, Tostadas, Flour Tortillas, Corn Tortillas), By Processing Type (Fresh, Frozen), By Source (Corn, Wheat), By Distribution Channels (Retail, Food Service), By GCC (Saudi Arabia, UAE, Qatar, Rest of GCC) - GCC Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 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.
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, hasled 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.
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.
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 of9.4% 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.
Key Benefits for Industry Participants & Stakeholders
In-depth Analysis of the GCC Tortilla Market
Historical, Current, and Projected Market Size in terms of Value
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.
Ask for Research To Be Focused On Specific Regions or Segments
Receive Data As Per Your Format and Definition
Companies Profiled based on Your Requirements
Breaking Down Competitive Landscape as per Your Requirements
Any Level of Customization
Our Clients
Client Testinomials
We needed a highly accurate and precise report, which Growth Market Reports delivered promptly. The company compiled information from a wide array of reliable agencies and sourcess.It is extremely satisfactory to be working with you. Strategy Head of Major Tech Company
We were very pleased to contact Growth Market Reports as they tailored reports precisely as per our requirements. As we are dealing with the aerospace and defense industry, we need reports of high accuracy and substantial quality. Major Player in Defense Industry
Extremely delighted to have a well-crafted report on “Global Packaging Solutions Market Research Report” from your team. Thank you for providing me with all our requirements and for incorporating our suggestions. CMO of Leading Packaging Company from USA
I had a good experience working with Growth Market Reports as they were very open to all constructive changes in the report. I found that the report had its charm embedded with ample of data. Founder and Managing Partner of Major Korean Company
Our company has been working with Growth Market Reports for some years now and we are very happy with the quality of the reports provided by the company.I, on behalf of my organization, would like to thank you for offering professional reports. Global Consulting Firm
Request For Customization
Enquiry Before Buying
Speak With Analyst
