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Report
Texas Tortilla Market Forecast to 2028
Market Report I 2022-08-03 I 73 Pages I Market Research Future
Texas tortilla Market Forecast 2028
Market Overview
The Texas tortilla market is expected to grow at a significant pace during the forecast period. The mounting growth of the fast-food industry is one of the significant factors for the rising growth of the tortilla market in Texas. The consumption of tortilla chips has increased at a high rate among the consumers of Texas, which will accelerate the demand for tortillas during the forecast period. Gluten sensitivity among consumers is exceptionally high, which is anticipated to restrict the sales of wheat-based tortillas in Texas. The rising of organic food products is expected to offer a lucrative opportunity to the manufacturers of tortillas. However, fluctuation of raw material prices is anticipated to pose a major challenge among the manufacturers of tortillas.
The Texas tortilla market is expected to register a notable growth rate during the forecast period. The growth of the fast-food industry, increasing demand for convenience food products, rising population of health-conscious consumers, and increasing consumption of tortillas in the form of tortilla chips are the major factors driving the market growth. Enhanced production techniques and demand for organic products are expected to create new opportunities for vendors active in the market. However, rising incidences of gluten sensitivity and high R&D investments are restricting the growth of the market. Suppliers of the tortilla are witnessing challenges owing to the fluctuation in the product prices.
Regional Analysis
A tortilla is a form of baked bread that is majorly prepared from corn and wheat and consumed mostly in Spain and Mexico. The use of corn in the preparation of tortillas enhances its nutritional value as corn is a rich source of proteins, vitamins, and minerals. The process of production of tortillas from corn involves the soaking of corn in the limewater.
Market Segmentation
Based on product type, the Texas tortilla market has been segmented into tortilla mix, pre-cooked tortilla, frozen tortilla, and tortilla chips. The pre-cooked tortilla segment accounted for the largest market share of 44.58% in 2020.
Based on the source, the market is classified into corn and wheat. The corn segment accounted for a larger market share of 58.63% in 2020 and is projected to register a higher CAGR of 5.81% during the forecast period.
Based on the claim, the global market has been segmented into gluten-free, low-carb, organic, and multi-claim. The multi-claim segment accounted for the largest market share of 45.30% in 2020.
Based on distribution channels, the market has been segmented into food retail and food service. The food retail segment accounted for a larger market share of 52.88% in 2020 and is projected to register a higher CAGR of 5.83% during the forecast period.
Major Players
The prominent players operating in the Texas tortilla market are Tyson Foods, Inc (Arkansas), General Mills, Inc. (US), PepsiCo, Inc. (the US), Gruma, S.A.B. de C.V (Mexico), Grupo Bimbo SAB de CV (Mexico), La Original Tortilla Co. (US), and LA Mexicana Tortilla Factory, Inc (US).
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 TEXAS TORTILLA MARKET, BY PRODUCT TYPE
1.2 TEXAS TORTILLA MARKET, BY SOURCE
1.3 TEXAS TORTILLA MARKET, BY CLAIM
1.4 TEXAS TORTILLA MARKET, BY DISTRIBUTION CHANNEL
2 MARKET INTRODUCTION
2.1 SCOPE OF THE STUDY
2.2 RESEARCH OBJECTIVE
2.3 MARKET STRUCTURE
2.4 KEY BUYING CRITERIA
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS & LIMITATIONS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 GROWTH OF THE FAST-FOOD INDUSTRY
4.2.2 RISING DEMAND FOR CONVENIENCE FOOD
4.2.3 INCREASING CONSUMPTION OF TORTILLA IN THE FORM OF TORTILLA CHIPS
4.2.4 RISING POPULATION OF HEALTH-CONSCIOUS CONSUMERS
4.2.5 DRIVERS IMPACT ANALYSIS
4.3 RESTRAINTS
4.3.1 GLUTEN SENSITIVITY
4.3.2 HIGH R&D INVESTMENTS
4.3.3 RESTRAINTS IMPACT ANALYSIS
4.4 OPPORTUNITIES
4.4.1 ENHANCED PRODUCTION TECHNIQUES
4.4.2 DEMAND FOR ORGANIC PRODUCTS
4.5 CHALLENGES
4.5.1 FLUCTUATION IN THE PRODUCT PRICES
5 MARKET FACTOR ANALYSIS
5.1 VALUE CHAIN ANALYSIS
5.1.1 RAW MATERIAL PROCUREMENT
5.1.2 PROCESSING
5.1.3 PACKAGING
5.2 SUPPLY CHAIN ANALYSIS
5.3 PORTER'S FIVE FORCES MODEL
5.3.1 THREAT OF NEW ENTRANTS
5.3.2 BARGAINING POWER OF SUPPLIERS
5.3.3 THREAT OF SUBSTITUTES
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 INTENSITY OF RIVALRY
5.4 IMPACT OF COVID-19 OUTBREAK ON THE TEXAS TORTILLA MARKET
5.4.1 OVERVIEW
5.4.2 IMPACT ON SUPPLY CHAIN
5.4.3 PRODUCTION CONSTRAINTS
5.4.4 IMPACT ON CONSUMER BUYING BEHAVIOR
5.4.5 IMPACT ON RETAIL SALES (ONLINE VS STORE-BASED)
5.4.6 IMPACT ON THE FOOD SERVICE INDUSTRY
5.5 LIST OF RESTAURANTS SERVING TORTILLA
6 TEXAS TORTILLA MARKET, BY PRODUCT TYPE
6.1 OVERVIEW
6.1.1 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019-2028
6.2 TORTILLA MIX
6.3 PRE-COOKED TORTILLA
6.4 FROZEN TORTILLA
6.5 TORTILLA CHIPS
7 TEXAS TORTILLA MARKET, BY SOURCE
7.1 OVERVIEW
7.1.1 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY SOURCE, 2019-2028
7.2 CORN
7.3 WHEAT
8 TEXAS TORTILLA MARKET, BY CLAIM
8.1 OVERVIEW
8.1.1 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY CLAIM, 2019-2028
8.2 GLUTEN-FREE
8.3 LOW-CARB
8.4 ORGANIC
8.5 MULTI-CLAIM
9 TEXAS TORTILLA MARKET, BY DISTRIBUTION CHANNEL
9.1 OVERVIEW
9.1.1 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019-2028
9.2 FOOD RETAIL
9.3 FOOD SERVICE
10 COMPETITIVE LANDSCAPE
10.1 INTRODUCTION
10.1.1 MARKET STRATEGY ANALYSIS
10.2 COMPETITIVE BENCHMARKING
10.3 KEY DEVELOPMENTS & GROWTH STRATEGIES
10.3.1 PRODUCT LAUNCH
10.3.2 EXPANSION
11 COMPANY PROFILES
11.1 TYSON FOODS, INC.
11.1.1 COMPANY OVERVIEW
11.1.2 FINANCIAL OVERVIEW
11.1.3 PRODUCTS OFFERED
11.1.4 KEY DEVELOPMENTS
11.1.5 SWOT ANALYSIS
11.1.6 KEY STRATEGIES
11.2 GENERAL MILLS, INC.
11.2.1 COMPANY OVERVIEW
11.2.2 FINANCIAL OVERVIEW
11.2.3 PRODUCTS OFFERED
11.2.4 KEY DEVELOPMENTS
11.2.5 SWOT ANALYSIS
11.2.6 KEY STRATEGIES
11.3 PEPSICO
11.3.1 COMPANY OVERVIEW
11.3.2 FINANCIAL OVERVIEW
11.3.3 PRODUCTS OFFERED
11.3.4 KEY DEVELOPMENTS
11.3.5 SWOT ANALYSIS
11.3.6 KEY STRATEGIES
11.4 GRUMA, S.A.B. DE C.V
11.4.1 COMPANY OVERVIEW
11.4.2 FINANCIAL OVERVIEW
11.4.3 PRODUCTS OFFERED
11.4.4 KEY DEVELOPMENTS
11.4.5 SWOT ANALYSIS
11.4.6 KEY STRATEGIES
11.5 GRUPO BIMBO SAB DE CV
11.5.1 COMPANY OVERVIEW
11.5.2 FINANCIAL OVERVIEW
11.5.3 PRODUCTS OFFERED
11.5.4 KEY DEVELOPMENTS
11.5.5 SWOT ANALYSIS
11.5.6 KEY STRATEGIES
11.6 LA ORIGINAL TORTILLA CO
11.6.1 COMPANY OVERVIEW
11.6.2 FINANCIAL OVERVIEW
11.6.3 PRODUCTS OFFERED
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIES
11.7 LA MEXICANA TORTILLA FACTORY, INC
11.7.1 COMPANY OVERVIEW
11.7.2 FINANCIAL OVERVIEW
11.7.3 PRODUCTS OFFERED
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIES
12 REFERENCES
LIST OF TABLES
TABLE 1 PRIMARY INTERVIEWS
TABLE 2 LIST OF ASSUMPTIONS & LIMITATIONS
TABLE 3 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019-2028 (USD MILLION)
TABLE 4 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY SOURCE, 2019-2028 (USD MILLION)
TABLE 5 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY CLAIM, 2019-2028 (USD MILLION)
TABLE 6 TEXAS TORTILLA MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019-2028 (USD MILLION)
TABLE 7 PRODUCT LAUNCH
TABLE 8 EXPANSION
TABLE 9 TYSON FOODS, INC.: PRODUCTS OFFERED
TABLE 10 GENERAL MILLS, INC.: PRODUCTS OFFERED
TABLE 11 GENERAL MILLS, INC.: KEY DEVELOPMENTS
TABLE 12 PEPSICO: PRODUCTS OFFERED
TABLE 13 PEPSICO: KEY DEVELOPMENTS
TABLE 14 GRUMA, S.A.B. DE C.V: PRODUCTS OFFERED
TABLE 15 GRUMA, S.A.B. DE C.V: KEY DEVELOPMENTS
TABLE 16 GRUPO BIMBO SAB DE CV: PRODUCTS OFFERED
TABLE 17 GRUPO BIMBO SAB DE CV: KEY DEVELOPMENTS
TABLE 18 LA ORIGINAL TORTILLA CO: PRODUCTS OFFERED
TABLE 19 LA MEXICANA TORTILLA FACTORY, INC: PRODUCTS OFFERED
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LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 TEXAS TORTILLA MARKET ANALYSIS, BY PRODUCT TYPE, 2020
FIGURE 3 TEXAS TORTILLA MARKET ANALYSIS, BY SOURCE, 2020
FIGURE 4 TEXAS TORTILLA MARKET ANALYSIS, BY CLAIM, 2020
FIGURE 5 TEXAS TORTILLA MARKET ANALYSIS, BY DISTRIBUTION CHANNEL, 2020
FIGURE 6 TEXAS TORTILLA MARKET: STRUCTURE
FIGURE 7 KEY BUYING CRITERIA FOR TORTILLA MARKET
FIGURE 8 RESEARCH PROCESS
FIGURE 9 TOP-DOWN AND BOTTOM-UP APPROACHES
FIGURE 10 MARKET DYNAMICS OVERVIEW
FIGURE 11 DRIVERS IMPACT ANALYSIS: TEXAS TORTILLA MARKET
FIGURE 12 RESTRAINTS IMPACT ANALYSIS: TEXAS TORTILLA MARKET
FIGURE 13 TEXAS TORTILLA MARKET: VALUE CHAIN OF WHEAT TORTILLA
FIGURE 14 TEXAS TORTILLA MARKET: SUPPLY CHAIN
FIGURE 16 TEXAS TORTILLA MARKET, BY PRODUCT TYPE, 2020 (% SHARE)
FIGURE 17 TEXAS TORTILLA MARKET, BY PRODUCT TYPE, 2019-2028 (USD MILLION)
FIGURE 18 TEXAS TORTILLA MARKET, BY SOURCE, 2020 (% SHARE)
FIGURE 19 TEXAS TORTILLA MARKET, BY SOURCE, 2019-2028 (USD MILLION)
FIGURE 20 TEXAS TORTILLA MARKET, BY CLAIM, 2020 (% SHARE)
FIGURE 21 TEXAS TORTILLA MARKET, BY CLAIM, 2019-2028 (USD MILLION)
FIGURE 22 TEXAS TORTILLA MARKET, BY DISTRIBUTION CHANNEL, 2020 (% SHARE)
FIGURE 23 TEXAS TORTILLA MARKET, BY DISTRIBUTION CHANNEL, 2019-2028 (USD MILLION)
FIGURE 24 TYSON FOODS, INC.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 25 TYSON FOODS, INC: SWOT ANALYSIS
FIGURE 26 GENERAL MILLS, INC.: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 27 GENERAL MILLS, INC.: SWOT ANALYSIS
FIGURE 28 PEPSICO: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 29 PEPSICO.: SWOT ANALYSIS
FIGURE 30 GRUMA, S.A.B. DE C.V: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 31 GRUMA, S.A.B. DE C.V.: SWOT ANALYSIS
FIGURE 32 GRUPO BIMBO SAB DE CV: FINANCIAL OVERVIEW SNAPSHOT
FIGURE 33 PREMIER FOODS PLC: SWOT ANALYSIS
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