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Tortilla Chips Market Size Worth $27.43 Billion By 2025 | CAGR: 4.41%

Tortilla Chips Market Growth & Trends

The global tortilla chips market size is expected to reach USD 27.43 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 4.41% from 2019 to 2025. Changing lifestyle is the most influential factor driving the product demand and growth of this market. Rising demand for on-the-go food due to hectic work schedules is also estimated to fuel the product demand.

Furthermore, rising number working individuals across the globe is likely to have a positive impact on the product demand. Manufacturers are investing in R&D to develop high-quality and healthy products. Companies are introducing products with whole-grain, gluten-free products with low sodium and fat contents. In addition, a variety of flavors is available in the market to suit consumer needs. For instance, Frito-Lay’s, under the brand Tostitos, offers tortilla chips in several flavors including black bean and garlic, jalapeno, lime, red pepper, salsa ranchera, and salsa verde.

Asia Pacific is estimated to be the fastest-growing regional market over the forecast period. This growth is credited to the easy product availability as a result of growing number of supermarkets and hypermarkets, as well as online grocery stores, in the region. Furthermore, increasing consumer disposable income levels and popularity of western cuisines are contributing to the market growth in Asia Pacific.

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Tortilla Chips Market Report

Tortilla Chips Market Report Highlights

  • Conventional product segment accounted for the highest market share of more than 93% in 2018 and is expected to retain the dominant position throughout the forecast period
  • Offline distribution channel accounts for the largest share of the market; however, online segment is estimated to expand at the fastest CAGR from 2019 to 2025
  • Asia Pacific is projected to be the fastest-growing market over the forecast period due to growing number of online and offline providers of the product
  • Key companies in the 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

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