Global Tortilla Chips Market 2017-2021
About Tortilla Chips
Tortilla chips is a Mexican snack food, which is typically made from corn tortillas. However, since the last decade or so, tortilla chips are also being made from ingredients like wheat tortilla and tapioca. They form one of the most popular savory snack food products after potato chips and crisps in various parts of the world. Tortilla chips are usually made from yellow corn. However, they can also be made from white, blue, or red corn. Totopos and tostadas are the other names given to the tortilla chips in Mexican language. PepsiCo's Frito Lay occupies a leading position in the global tortilla chips market with its highly popular brands like Doritos, Tostitos, and Santitas.
Technavio’s analysts forecast the global tortilla chips market to grow at a CAGR of 7.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tortilla chips market for 2017-2021. To calculate the market size, the report considers the retail sales of the important vendors in the tortilla chips market and the market share of various brands operating in different geographical regions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tortilla Chips Market 2017-2021
Technavio recognizes the following companies as the key players in the global tortilla chips market: GRUMA, Grupo Bimbo, PepsiCo, and Truco Enterprises.
Other Prominent Vendors in the market are: Amplify Snack Brands, Arca Continental, Fireworks Foods, Greendot Health Foods, Hain Celestial, Intersnack Group, Kellogg, Mexican Corn Products, Snacka Lanka, and Snyder's-Lance.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing popularity of organic and non-GMO ingredients-based tortillas and tortilla chips products. Owing to the rising number of health-conscious consumers, manufacturers are increasingly focusing on organic and non-genetically modified organisms (GMO) ingredients-based tortilla chips. For example, AB Mauri, an operating division of Associated British Foods, not only provides ingredient solutions to tortilla manufacturers but also offers technical expertise to help them in the production of a wide variety of tortilla styles, from translucent, home-style tortillas with a short shelf life to more-opaque and thicker tortillas with a long shelf life. Its Supremo Tortilla Solutions line features specialty ingredients that are compatible with both flour and corn tortilla products.”
According to the report, one of the major drivers for this market is launch of an increasing number of products containing innovative flavors. The global tortilla chips market has seen a surge in the launch of new products containing innovative flavors over the last five years. Most of these new products were launched in the Americas, and most of them were organic or gluten-free due to the rising demand for such products. The launch of these new products will have a positive impact on the market and lead to an increase in the demand for tortilla chips during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is fluctuations in corn prices. Corn is a popular food item globally. The first instance of the usage of corn dates back to around 2,500 BC. However, corn has grown to become more than just another source of food over the past few decades. Corn is also one of the most important fuel sources. About 40% of the crop is used for making corn ethanol – an alcohol that has become a key constituent of gasoline in the US. Besides, it is also considered as an alternative source of energy to gasoline. With corn being increasingly linked to gasoline, several factors are affecting the price of corn.
GRUMA, Grupo Bimbo, PepsiCo, and Truco Enterprises.Other Prominent Vendors in the market are: Amplify Snack Brands, Arca Continental, Fireworks Foods, Greendot Health Foods, Hain Celestial, Intersnack Group, Kellogg, Mexican Corn Products, Snacka Lanka, and Snyder's-Lance.
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