Market Trends of Flatbread Industry
Rising Demand for Tortilla Fuel the Market Growth
The increasing awareness of health consciousness among customers in the marketplace has fueled the expansion of the tortilla industry worldwide. The tortillas are less fatty and appetizing and are high in folic acid; these are made from wheat and corn; the latter is rich in protein, thus helping minimize the risk of diseases caused by protein deficiency. For instance, in January 2023, Flagship Food Group launched Carb Cutting tortillas under its La Tortilla Factory and Tortilla King brands. The new line of tortillas includes a zero-net-carb tortilla, a 4-gram net-carb flour tortilla, and a 4-gram net-carb whole wheat tortilla. The use of tortillas in the form of wrappers is another factor boosting the expansion of the market. The tortilla segment is expected to grow with continuous R&D, rising disposable income, product standardization, and investment in advanced technologies and innovations. For instance, General Mills Inc. offers various tortilla products under its brand, Old El Paso. Its product range includes Old El Paso soft tortilla bowls, Old El Paso tortilla pockets, Old El Paso soft flour and corn blend tortilla bowls, etc. In August 2023, Old El Paso introduced a new ultra-light tortilla. The brand's lightweight wraps are Extra Thin Tortillas, which have 96 calories per empty tortilla, 45% fewer than the large variety.
Tortillas, thin flatbread bread rich in protein, vitamins, and minerals, are used to make burritos, tacos, and enchiladas. They are an integral part of Mexican cuisine and a staple food of the Hispanic community. While traditional tortillas are made from corn and wheat flour, tortilla manufacturers are introducing new products, including cauliflower, vegan, and carb-smart versions, to attract health-conscious and vegan customers, especially as more consumers show an inclination towards plant-based diets. Additionally, tortillas are a potential substitute for bread, and the increase in the popularity of ready-made dishes is boosting the market growth. Further, the increasing gluten-intolerant population and the growing preference for organic plant-based diets is mainly due to consumers' perception that these products are healthier and safer than conventional foods.
North America Holds the Significant Market Share
North America’s significant market share in the flatbread market is attributed to several factors, including its diverse culinary landscape, consumer demand for convenient and healthy food options, and the popularity of flatbreads in various cuisines such as Mexican, Mediterranean, and Middle Eastern. The market is expanding due to the convenience offered in terms of time savings and the low effort required for meal preparation. Furthermore, the growing working population and improving consumer lifestyles have enhanced the consumption of ready-to-eat (RTE) food products throughout the region, including flatbreads. Mexico and Cuba are popular tourist destinations in the region, and many tourists are attracted to traditional food products in these countries, such as tortillas. For instance, as per INEGI, in mid-2023, there were nearly 135 thousand restaurants serving tacos and tortillas in Mexico. Besides tourism, Mexican tortillas are essential for the traditional cuisine in this country and are consumed daily.
Consumers in the region are becoming more health-conscious and are looking for flatbread products made with natural and whole ingredients, such as whole grains. The focus on health is designed to correspond with the introduction of products that have whole grains, high fiber, or other nutrients that are beneficial to health. The growing“ gluten-free” varieties of flatbread products and the associated higher unit price will provide further fillip to value-based sales in the forecast period. For instance, in February 2023, Rise and Puff company launched a trio of thin and fresh varieties of tortillas in the United States, including original, certified Organic, and gluten-free, made using only four premium ingredients: non-GMO wheat flour, pure avocado oil, sea salt, and filtered pure water as per the company. Furthermore, the modernization of retail channels in the region, especially the online retail stores has made it easier for consumers to access flatbread products, which has contributed to the growth of the market. For instance, in January 2023, Tacit Corporation, in partnership with Pita Pit company, launched a mobile app and website for online ordering of its food products, including flatbreads.
