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Tortilla Chips Industry 2019Description:-
A tortilla chip is a snack made of corn flour, vegetable oil, salt, and water. These triangle-shaped chips are either fried or baked until crisp. Tortilla or corn chips are a part of the Mexican cuisine and are often served with melted cheese or salsa. They are popularly consumed around the world and their global market is expected to grow at a CAGR of about 6.5% over the forecast period. PepsiCo’s Frito Lay leads the market for tortilla chips with its well-known brands Tostitos, Doritos, and Santitas.
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Key players
GRUMA
Grupo Bimbo
PepsiCo
Truco Enterprises
Amplify Snack Brands
Arca Continental
Fireworks Foods
Greendot Health Foods
Hain Celestial
Intersnack Group
Kellogg
Mexican Corn Products
Snacka Lanka
Snyder's-Lance
Tortilla chips are made of yellow corn, red corn or blue corn and are available in many flavors. They can be organic or conventional. With the growing trend of clean label around the world, the market for organic chips is expected to grow at a considerable rate in the coming years. These chips are delicious and cheaper than traditional meals. The flavored ones available in packets are easy to carry around. These factors are driving the market for corn chips in different countries.
Corn chips are served as an appetizer in Mexican and multi-cuisine restaurants around the world. The market for packaged corn chips is also growing at a promising pace as they are available in appetizing flavors and are perfect for any time snacking. According to report analysts, the global market for tortilla chips will reach US$ 8270 million in 2024, from US$ 5660 million in 2019. This market report for corn chips focuses on the latest trends, global market share, key players, market drivers, growth opportunities, and more.
Segmentation:
The global market for tortilla chips is segmented into types and applications.
Based on types, the market is divided into baked chips and fried chips. Some chips are also made of wheat flour or different varieties of corn.
Based on applications, the market is divided into online and offline. The offline or store-based market is further sub-segmented into traditional grocery retailers and modern grocery retailers. Traditional ones include small grocery retailers while the modern ones include supermarkets, departmental stores, convenience stores, and specialty stores.
Regional Analysis:
North America (The United States, Mexico and Canada), Central and South America (Columbia, Brazil, Argentina and rest of the region), Europe (Italy, UK, Germany, France, Spain and Russia), Asia-Pacific (Japan, China, South Korea, India, Australia and Southeast Asia), and the Middle East and Africa (UAE, Saudi Arabia, Turkey, Egypt and South Africa) are the regions considered for studying the global market for corn chips.
North America is the most important region for corn chips. In 2016, the region accounted for 52.1% of the total market share. The consumption of corn chips is high among the Mexican-American population in the United States. The Asia-Pacific region is expected to witness the fastest growth over the forecast period. Easy availability of the product in supermarkets and online stores and rising disposable income levels of consumers are key driving factors behind the growth.
Industry News:
Taco Bell, an American fast-food restaurant chain, introduced spicy and flavorful Reaper Ranch Tortilla Chips in September 2019. These limited-edition chips will be available at retail stores across the United States for a short period of time.
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Table of Contents – Major Key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Tortilla Chips Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Tortilla Chips Market Analysis by Regions
5 North America Tortilla Chips by Country
Continued….
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