Global Tortilla Chips Market is valued approximately USD 28.6 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.4 % over the forecast period 2022-2028.
Tortilla Chips is a snack food made from corn tortillas. Corn tortilla are cut into triangle shape and then baked or fried to obtain chips. Tortilla Chips are said to be low in fat and calories than potato chips. These chips are widely made from corn and from wheat also. The growing expansion of global Snack Food Sector and increasing number of working people worldwide as well as recent product announcements from leading market players are factors that are accelerating the global market demand. For instance, according to Statista - as of 2022, the revenue of global snack food segment is estimated at USD 506.20 billion, and the market is projected to grow at CAGR of 5.58% between 2022 & 2027 to reach to USD 664.10 billion. Moreover, leading market players are working towards different strategic initiatives including new product launches and acquisitions to leverage the growing demand for Tortilla Chips. For instance, in January 2021, Pennsylvania, USA based Utz Brands Inc. completed the acquisition of Carrollton, Texas, United States based Truco Enterprises for a transaction value of USD 480 billion. Truco Enterprises is a leading seller of tortilla chips, salsa and queso under the brand name ON THE BORDER("OTB"). Further, in September 2021, Ontario, Canada based Kazoo Snacks launched new upcycled tortilla chips. The packaging of Kazoo Tortilla Chips is made using 40% upcycled corn germ and the new chips are vegan, kosher, gluten-free and available in three different varieties including restaurant style, bite-sized and lime zest. Also, growing expansion online sales channels coupled with increasing emergence of quick service restaurants are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, health concern associated with fried products and availability of healthy alternatives such as Kale Chips, Zucchini chips impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Tortilla Chips Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing consumption of tortilla chips and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of the quick service restaurants and increasing penetration of online grocery stores in the region, would create lucrative growth prospects for the Tortilla Chips Market across the Asia Pacific region.
Major market players included in this report are:
Truco Enterprises LP
GRUMA, S.A.B. de C.V.
Target Brands, Inc.
El Milagro, Inc.
Utz Quality Snacks
Brimhall Foods Company, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period: 2022 to 2028
Target Audience of the Global Tortilla Chips Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers