Revenue in USD million/billion and CAGR from 2019 to 2025 Thus, product innovation to cater to changing consumer demands is asserting the high competition among manufacturers. Increasing demand for organic and healthy products is forcing companies to invest more in R&D. Mission Foods Truco Enterprises LP Herr’s Trader Joe’s GRUMA, S.A.B. Some of the key companies in the global tortilla chips market are Frito-Lay, Inc. Furthermore, increasing consumer disposable income levels and the popularity of western cuisines are contributing to the region’s growth. This growth is credited to the easy product availability as a result of a growing number of supermarkets and hypermarkets, as well as online grocery stores, in the region. Asia Pacific, on the other hand, is expected to witness the fastest CAGR of 6.29% during the forecast years. The U.S., in particular, is the major consumer due to the strong presence of several prominent Ready-To-Eat (RTE) food brands, which have successfully commercialized their products across the globe. North America is the largest regional market for tortilla chips. Moreover, online platforms offer various payment options and doorstep delivery services, which will contribute to segment expansion. In addition, most of the online shopping spaces have collaborations with various banks and thus, provide unique offers.
This can be attributed to the availability of unique products at cheap prices. On the other hand, the online segment is estimated to expand at the fastest CAGR from 2019 to 2025.
SALSA VERDE DORITOS OFFLINE
In addition, the easy availability of a variety of products from different brands and discounts offered by offline stores will boost segment growth. The reliability of offline stores and dependence on assisted shopping are the key factors driving the offline channels. The offline distribution channel accounts for the largest share of the global tortilla chips market. Rising awareness regarding the benefits of consuming organic foods is likely to augment their demand, thereby supporting segment growth. However, the organic product segment is estimated to register the maximum CAGR from 2019 to 2025. This is also likely to have a positive impact on segment growth. Moreover, conventional products are much cheaper than organic products. Easy availability of regular raw material over organic materials is expected to drive the demand for conventional tortilla chips.
The conventional product type held the largest market share of more than 93.0% in 2018. In addition, globalization has played a major role in the growth of this market. These flavors include black bean and garlic, jalapeno, lime, red pepper, salsa ranchera, and salsa verde.
In addition, a variety of flavors is available in the market to suit consumer needs, which also supports market growth.įor instance, Frito-Lay’s, under the brand Tostitos, offers tortilla chips in several flavors. Phileas Fogg, Doritos, and Don Tacos are some of the key companies in the market. They are also investing in R&D to develop high-quality and healthy products, such as whole-grain and gluten-free chips with low sodium and fat content.
SALSA VERDE DORITOS TV
To gain the maximum market share, companies promote their products through endorsements and TV and magazine commercials. Furthermore, the rising number of working individuals across the globe is likely to have a positive impact on product demand. Rising demand for on-the-go food due to hectic work schedules is also estimated to fuel the product demand. Changing lifestyle is the most influential factor driving the product demand and growth of this market. Tortilla chips are also known as tostadas and totopos are of Mexican origin. The global tortilla chips market size was valued at USD 20.28 billion in 2018 and is expected to register a CAGR of 4.41% from 2019 to 2025.
0 kommentar(er)
