Market Trends of Global Tortilla Chips Industry
This section covers the major market trends shaping the Tortilla Chips Market according to our research experts:
Growing Demand for Convenient Snacking Options
In several parts of the world, tortilla chips rank with potato chips and crisps as one of the most popular spicy convenient snack food products. The most important factor driving consumer demand for the product and the growth of this industry is a changing way of life. Demand for the tortilla chips product is also anticipated to be driven by rising demand for convenient snack food due to hectic work schedules. Due to the cost-effectiveness of these alternatives to traditional meals, the demand for convenient snacks is rising globally. Leading manufacturers introducing new products that are healthy and have a variety of flavors will contribute significantly to the growth of the tortilla chip market. For instance, in September 2022, Que Pasa, an organic tortilla chip brand from Nature's Path Foods, launched innovative jalapeno & lime tortilla chip flavors. The chips are manufactured with only the healthiest components, such as entire corn kernels pounded with volcanic stones, and are organic, non-GMO certified, gluten-free, and vegan.
Young people are becoming more accustomed to consuming snacks while traveling and watching television. Additionally, the surge in demand for tortilla chips in multiplexes as quick snacks while watching movies and sporting events is a prominent market trend that will considerably contribute to the tortilla chip market's strong growth over the forecast period.
North America holds a significant market share.
North America presently dominates the majority of the tortilla chip market due to the presence of numerous well-known convenient snack food brands. Tortillas are one of the most popular Mexican foods, and demand is rising as the Hispanic population in North America increases. The growing Hispanic and Latino population in the United States is one of the major factors driving the tortilla market in the region. Additionally, the expansion of supermarkets and hypermarkets, rising consumer disposable income, and the growing popularity of western cuisines will all contribute to the market growth for tortilla chips in the region during the forecast period. The huge and easily accessible supply of raw materials required to create tortillas, in addition to the presence of significant international market players, have fueled the growth of the tortilla industry in this region. Based on sales, Frito Lay is the largest supplier of tostada and tortilla chips in the United States in 2021. Leading companies are increasing their investments in tortilla chip production in the United States. For instance, in June 2021, Pepsico Inc invested USD 200 million in its Frito Lay plant in Rosenberg, Texas to add two production lines and double the warehouse's capacity to assure future growth.
