LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global tortilla chips market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The US, Mexico, Brazil, the UK, and Germany are the major markets for tortilla chips. The launch of an increasing number of new products containing innovative flavors, wider accessibility of tortilla chips through organized retailing, and the rising popularity of convenience-based snacks products are the major drivers that will impact the growth of the global tortilla chips market during the forecast period.
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The top three emerging trends driving the global tortilla chips market according to Technavio food and beverages research analysts are:
- Growing popularity of organic and non-GMO ingredients-based tortillas
- Wider accessibility to consumers through online retailing
- Rise in marketing and promotional campaigns by savory snack manufacturers
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Growing popularity of organic and non-GMO ingredients-based tortillas
“Owing to the rising number of health-conscious consumers, manufacturers are increasingly focusing on organic and non-genetically modified organisms ingredients-based tortilla chips. For example, AB Mauri, an operating division of Associated British Foods, not only provides ingredient solutions to tortilla manufacturers but also offers technical expertise to help them in the production of a wide variety of tortilla styles, from translucent, home-style tortillas with a short shelf life to more-opaque and thicker tortillas with a long shelf life,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
The demand for tortilla chips containing ingredients such as beans, vegetables, alternative corns and those with organic and clean labels is growing among the consumers. This is encouraging manufacturers to produce new products.
Wider accessibility to consumers through online retailing
“The average amount of money spent online per transaction and the number of transactions that take place online are on the rise globally. The growing number of Internet users and the ready-to-buy attitude of these users are the main factors boosting the growth in the popularity of this retail channel,” adds Manjunath.
Online shopping portals have incorporated enhanced security features for efficient customer service and payments as well as adopted customer-friendly website designs, offering enhanced product visibility. This trend is encouraging various tortillas and tortilla chips manufacturers to concentrate on the Internet-savvy customer segment and explore the world of new online retail format.
Rise in marketing and promotional campaigns by savory snack manufacturers
In this era of online shopping, savory snack marketers are also advertising their product offerings on the online platform with the help of the e-tailers working in the market. They want end-users to experience online shopping for savory snacks in the same way as online shopping for other products.
The world is moving faster and more conveniently with the usage of social media such as Facebook, Twitter, LinkedIn, and WhatsApp. Thus, most consumer goods marketers are now implementing social media campaigns for their product promotions or new product launches. Savory snack marketers are also using social media to promote their product offerings as the target audience that can be reached through this media is large.
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