Description
Israel And GCC Tortilla Market Research Report Forecast to 2028
Market Overview
The Israel & GCC tortilla market is anticipated to reach USD 582.54 Million by the end of 2028 with a CAGR of 4.20%. The Israel and GCC tortilla market is expected to register a notable growth rate during the forecast period. A major key factor driving the growth of the Israel and GCC tortilla market is growth in the fast-food industry, an upsurge in demand for convenience food products, a rising population of health-conscious consumers, and increasing consumption of tortilla chips propelling the strong performance of retail. 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.
A tortilla is a form of baked bread, primarily made of wheat and corn. The use of wheat as a raw material increases the magnesium content, calcium, and mineral salts in the tortilla. Owing to the availability of a variety of tortillas in the Israel and GCC market, it is now used as a replacement for bread; this propels the market in the Middle East. The rapid growth of the fast-food industry is one of the significant factors for the rising growth of the tortilla market in Israel & GCC countries. Various key factors driving the growth of the fast-food industry in GCC and Israel are urbanization, expansion of modern retailing, and changing consumer preferences.
Market Segmentation
Based on the product type, the Israel and GCC tortilla market has been divided into frozen tortillas, tortilla chips, pre-cooked tortillas, and tortilla mix. The largest market share in this type is held by the pre-cooked tortilla and hence dominates the market. Moreover, tortilla chips are expected to be the fastest-growing segment during the forecast period.
Additionally, the tortilla market has been bifurcated by the source type into corn and wheat. The corn segment holds the largest market share and dominates the market by type. The wheat segment is showing a growth rate in this market. Furthermore, the market for tortillas has been divided based on claims, into gluten-free, low carb, organic, and multi-claim. Multi-claim tortilla is expected to hold the largest market share in this market.
Moreover, the Israel and GCC market has been divided based on the distribution channels into food retail distribution channels and food service distribution channels. The largest market share is held by the food retail distribution channel.
Regional analysis
Saudi Arabia held the largest market in the Israel and GCC tortilla market, with a market value of approximately USD 195.53 million in 2020. The second-largest market share in this market is held by Israel country as it is expected to register a high CAGR of 4.82% during the forecast period, followed by Oman, Kuwait, and Qatar, respectively.
Major Players
Tyson Foods, Inc., Gruma SAB de CV, General Mills, Inc., PepsiCo Inc., and Mezzan Holding Co. KSC are the prominent players operating in the Israel & GCC tortilla market.
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