Pune, India -- (SBWIRE) -- 02/26/2018 -- Market Overview:
Tortilla Market is projected to reach USD 29.39 billion at a CAGR of 5.50% over the forecast period. In North America, the tortilla is majorly marketed in the U.S., which alone holds the lion's share of 74.57% of the total North American tortilla market. North America alone captures 59.06% global market share in the year 2017.

It is a form of baked bread, which is mainly prepared from corn and wheat and majorly consumed in Mexico and Spain. Both the major sources of tortilla are nutritious such as corn is rich in vitamin B constituents, especially, thiamin and niacin whereas wheat are rich in catalytic elements, mineral salts, calcium, magnesium, and many more. The nutritious value of tortilla makes it a potential replacer for bread and has increased its application in various food industry. The different types of tortilla are available in the market, for instance, tortilla mix, pre-cooked tortilla, frozen tortilla, and tortilla chips.

Based on the type of tortilla, pre-cooked tortilla segment is dominating the market by holding a market share of 40.25%. However, tortilla mix segment is expected to have the highest growth rate in North America over the forecast period 2017-2023 followed by tortilla chips. Moreover, continuous growth in the Hispanic population in the U.S. is a major contributor to the growth of tortilla market in this region. Increasing health concerns and inclination towards healthy diet among the consumers is another factor boosting the growth of the tortilla market. Moreover, continuous efforts from the key players for bringing innovative products to the market is further boosting the tortilla market.

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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major Tortilla market players. It further includes product portfolios, developments of leading players, which includes

Azteca Foods Inc.(U.S.)
Ole Mexican Foods Inc. (U.S.)
Grupo Liven, S.A. (Spain)
Tyson Foods, Inc. (U.S.)
Gruma SAB de CV (Mexico)
Grupo Bimbo SAB de CV (Mexico)
General Mills, Inc. (U.S.)

Target Audience:
Tortilla manufacturers
Food industry
Retailers, wholesalers and distributors
Traders, importers and exporters

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Key Findings:
Global tortilla market is projected to reach USD 48.51 billion by 2023 at a growth rate of 5.10%
Tortilla mix is witnessed to have a highest growth at a CAGR of 5.65% over the forecast period 2017-2023
Gluten-free claim is expected to grow at a CAGR of 6.20% followed by low-carb claim over the forecast period
Latin America is the second largest region in the global tortilla market, which is likely to grow at a CAGR of 5.07% over the estimated period