The tortilla market is anticipated to grow from US$ 33.09 billion in 2023 to US$ 45.18 billion by 2031, reflecting a compound annual growth rate (CAGR) of 4.0% during the period from 2023 to 2031.

Tortillas, which are thin, round flatbreads with their roots in Mexican cuisine, are primarily crafted from corn and wheat, along with alternative flours such as chickpea, fava bean, and multigrain flours. The global appetite for tortillas is on the rise, driven by an increasing interest in Mexican food, a growing number of Mexican dining establishments, and a surge in consumers eager to explore diverse culinary experiences. Additionally, the trend of dining out is boosting the popularity of tortilla-based dishes like tacos, burritos, and quesadillas, thereby enhancing the tortilla market's sales. There is also a notable increase in the demand for organic tortillas, as consumers are leaning towards products made with certified organic ingredients that are devoid of genetically modified organisms (GMOs), pesticides, and harmful chemicals.

The growing consumer focus on understanding product ingredients has led to a heightened preference for clean-label offerings. Awareness of the negative health effects linked to artificial food additives, including colorants, flavors, texturizers, and emulsifiers, is prompting consumers to seek transparency in labeling. Clear and comprehensive ingredient lists are appealing to buyers, and the use of clean-label components aids manufacturers in their marketing and branding efforts. Consequently, the rising interest in natural, organic, and clean-label products is likely to foster new trends within the tortilla market throughout the forecast period.

The tortilla market can be segmented based on its source, which includes wheat, corn, and other varieties. In 2022, the corn segment was the leading category in the global tortilla market. Traditionally, tortillas are made from corn, which offers several health benefits, including lower calories, carbohydrates, and sodium, while being higher in fiber compared to wheat tortillas. Corn tortillas are also gluten-free. The most prevalent types of corn tortillas are yellow and white, with yellow corn tortillas containing beta-carotene, giving them a nutritional advantage. Blue corn tortillas are considered the healthiest option, as they are richer in protein and lower in starch than their white and yellow counterparts.

Online retail has emerged as the fastest-growing distribution channel in the tortilla market, attributed to the convenience of shopping, product delivery, and other benefits. E-commerce platforms provide a wide array of products often at significant discounts, allowing consumers to purchase items from the comfort of their homes. The availability of home delivery services has attracted a substantial customer base to online shopping. Furthermore, these platforms typically offer detailed product descriptions and customer reviews, enabling buyers to compare options and make informed choices. Such factors are propelling the growth of the tortilla market within the online retail sector. The COVID-19 pandemic further accelerated the popularity of online retail channels, as they provided essential home delivery services.

Key players in the tortilla market include GRUMA SAB de CV, PepsiCo Inc, La Tortilla Factory Inc, Intersnack Group GmbH & Co KG, Aranda's Tortilla Company Inc, Paulig Ltd, General Mills Inc, Conagra Brands Inc, Goya Foods Inc, Moctezuma Foods SRO, Komali Tortillas GmbH, Greendot Health Foods Pvt. Ltd., Paul's Organics, Fresca Mexican Foods, Mi Rancho, Joy Food Products, Delibreads Europe S.L., Habanero Foods, Leighton Foods AS, and The Hain Celestial Group Inc, among others. These companies are dedicated to offering innovative and health-conscious products at competitive prices to meet consumer demands.

The overall size of the tortilla market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the tortilla sector.