The global tortilla chips market size is expected to reach USD 27.43 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 4.41% from 2019 to 2025. Changing lifestyle is the most influential factor driving the product demand and growth of this market. Rising demand for on-the-go food due to hectic work schedules is also estimated to fuel the product demand.
Furthermore,
rising number working individuals across the globe is likely to have a positive
impact on the product demand. Manufacturers are investing in R&D to develop
high-quality and healthy products. Companies are introducing products with
whole-grain, gluten-free products with low sodium and fat contents. In
addition, a variety of flavors is available in the market to suit consumer
needs. For instance, Frito-Lay’s, under the brand Tostitos, offers tortilla
chips in several flavors including black bean and garlic, jalapeno, lime, red
pepper, salsa ranchera, and salsa verde.
Asia
Pacific is estimated to be the fastest-growing regional market over the
forecast period. This growth is credited to the easy product availability as a
result of growing number of supermarkets and hypermarkets, as well as online
grocery stores, in the region. Furthermore, increasing consumer disposable
income levels and popularity of western cuisines are contributing to the market
growth in Asia Pacific.
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Tortilla Chips
Market Report Highlights
- Conventional
product segment accounted for the highest market share of more than 93% in
2018 and is expected to retain the dominant position throughout the
forecast period
- Offline
distribution channel accounts for the largest share of the market;
however, online segment is estimated to expand at the fastest CAGR from
2019 to 2025
- Asia Pacific
is projected to be the fastest-growing market over the forecast period due
to growing number of online and offline providers of the product
- Key companies
in the tortilla chips market are Frito-Lay, Inc.; Mission Foods; Truco
Enterprises LP; Herr’s; Trader Joe’s; GRUMA, S.A.B. de C.V.; Target
Brands, Inc.; El Milagro, Inc.; and Utz Quality Snacks
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Tortilla Chips
Market Segmentation
Grand View Research has
segmented the global tortilla chips market on the basis of product,
distribution channel, and region:
Tortilla
Chips Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Organic
- Conventional
Tortilla
Chips Distribution Channel Outlook (Revenue, USD Billion, 2015 -
2025)
- Online
- Offline
Tortilla
Chips Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- India
- China
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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