Tortilla Chips Market Size, Share & Trends Report

Tortilla Chips Market Size, Share & Trends Analysis Report By Product (Conventional, Organic), By Distribution Channel (Online, Offline), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2019 - 2025

  • Published Date: Aug, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-706-3
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Report Overview

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. Tortilla chips are also known as tostadas and totopos are of Mexican origin. Changing lifestyle is the most influential factor driving the product demand and growth of this market.

U.S. tortilla chips market

Rising demand for on-the-go food due to hectic work schedules is also estimated to fuel the product demand. Furthermore, the rising number of working individuals across the globe is likely to have a positive impact on product demand. To gain the maximum market share, companies promote their products through endorsements and TV and magazine commercials.

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. Phileas Fogg, Doritos, and Don Tacos are some of the key companies in the market. In addition, a variety of flavors is available in the market to suit consumer needs, which also supports market growth.

For instance, Frito-Lay’s, under the brand Tostitos, offers tortilla chips in several flavors. These flavors include black bean and garlic, jalapeno, lime, red pepper, salsa ranchera, and salsa verde. In addition, globalization has played a major role in the growth of this market.

Product Insights

The conventional product type held the largest market share of more than 93.0% in 2018. Easy availability of regular raw material over organic materials is expected to drive the demand for conventional tortilla chips. Moreover, conventional products are much cheaper than organic products. This is also likely to have a positive impact on segment growth. However, the organic product segment is estimated to register the maximum CAGR from 2019 to 2025. Rising awareness regarding the benefits of consuming organic foods is likely to augment their demand, thereby supporting segment growth.

Distribution Channel Insights

The offline distribution channel accounts for the largest share of the global tortilla chips market. The reliability of offline stores and dependence on assisted shopping are the key factors driving the offline channels. In addition, the easy availability of a variety of products from different brands and discounts offered by offline stores will boost segment growth.

Global tortilla chips market

On the other hand, the online segment is estimated to expand at the fastest CAGR from 2019 to 2025. This can be attributed to the availability of unique products at cheap prices. In addition, most of the online shopping spaces have collaborations with various banks and thus, provide unique offers. Moreover, online platforms offer various payment options and doorstep delivery services, which will contribute to segment expansion.

Regional Insights

North America is the largest regional market for tortilla chips. 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. Asia Pacific, on the other hand, is expected to witness the fastest CAGR of 6.29% during the forecast years. 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. Furthermore, increasing consumer disposable income levels and the popularity of western cuisines are contributing to the region’s growth.

Key Companies & Market Share Insights

Some of the key companies in the global 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. Increasing demand for organic and healthy products is forcing companies to invest more in R&D. Thus, product innovation to cater to changing consumer demands is asserting the high competition among manufacturers.

Tortilla Chips Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 22.04 billion

Revenue forecast in 2025

USD 27.43 billion

Growth Rate

CAGR of 4.4% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million/billion and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; China; India; Brazil; Saudi Arabia

Key companies profiled

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.; Utz Quality Snacks

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global tortilla chips market report on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD Billion, 2015 - 2025)

    • Organic

    • Conventional

  • Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Billion, 2015 - 2025)

    • North America

      • The U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • India

      • China

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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