The report segments the global packaged tamales market by product (meat and seafood-based packaged tamales and vegetable and other ingredients-based packaged tamales) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global packaged tamales, according to Technavio food and beverage researchers:
- Growing Hispanic population worldwide: a major market driver
- Increasing millennial population worldwide: emerging market trend
- In 2017, the global packaged tamales market was dominated by the Americas with a revenue share of more than 68.29%
- In 2017, the meat and seafood-based packaged tamales sector held the largest share of the market
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Growing Hispanic population worldwide: a major market driver
The growing Hispanic population around the world is one of the major factors driving the global packaged tamales market. The term Hispanic refers to the people, culture, and nations that have a historical link to Spain. The term is associated with people living in the countries in Americas and Asia, particularly Mexico and the Philippines that were at some point of time in history occupied by Spain. Since 2010, the Hispanic population in the US and other countries such as the Philippines and Mexico has increased. This has proven to be instrumental in the growing demand and popularity of Hispanic food and beverage products such as tostadas, tacos, tamales, tortilla chips, burritos, and quesadillas.
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Increasing millennial population worldwide: emerging market trend
Millennials are defined as the people who were born between the early 1980s to late 1990s. As of 2017, their age range should be between 18 and 36 years. The packaged tamales products are very popular among millennials because they are more enthusiastic to try out new variants and flavors. In 2016, the millennials accounted for nearly 25% of the global population.
According to a senior analyst at Technavio for research on food, “The rising disposable incomes of consumers in developing countries such as India, where the population of millennials accounted for nearly 29% of the total population in 2016, provide a huge opportunity to the vendors of the global packaged tamales market. This aids in the expansion of their geographical presence and to increase their customer base.”
Global market opportunities
In 2017, the global packaged tamales market was dominated by the Americas with a revenue share of more than 68%. It was followed by EMEA and APAC. One of the major factors contributing to the increased sales in the Americas is an increase in the demand for the packaged tamales products because of the growing Hispanic population in the US. The increasing number of supermarkets, hypermarkets, discount stores and convenience stores in the packaged tamales market is also a key driver that will impact the growth of global packaged tamales market during the forecast period.
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