High consumers’ inclination towards adoption of healthy life-style has encouraged the demand for convenience snack products. Owning to this, the sale of nachos is experiencing a surge. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Nachos Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving million-dollar growth readily in the forecast period.
Nachos are snack products majorly prepared from corn and wheat and consumed mostly in Spain and Mexico. The use of corn in the preparation of nachos enhances its nutritional value as corn is a rich source of proteins, vitamins and minerals. The process production of nachos from corn involves the soaking of corn in the limewater and this process helps in the availability of Vitamin B after its consumption. To expand market, the manufacturers of nachos are highly focusing on bring innovations into their product line to generate high revenues. Manufacturers are found to fortify nachos with fiber to increase its nutrient content. This strategy has found to gain attention of mass consumers thereby further increasing its sale.
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The global nachos market has been divided into type, claim, flavors, and region.
Based on Type: Fried, Baked, and Others
Based on Claim: Kosher, Organic, Gluten-Free, and Others
Based on Flavors: Barbecue, Pineapple, Tomato, Jalapeno, and Others
Based on Region: North America, Europe, Asia Pacific, and ROW
The key players in the global Nachos market are Frito-Lay, Inc. (U.S.), Pringles S.a.r.l. (Luxembourg), Orenda Foods Pvt. Ltd. (India), Cornitos (India), Emyth, Inc. (U.S.), Conagra Brands, Inc. (U.S.), Late July Snacks (U.S.), and General Mills, Inc. (U.S.).
The global nachos market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the global nachos market followed by Europe. Mexico accounts for a higher consumption of nachos as a convenience snack. Also, the global nachos consumption is rapidly growing among the hispanic population. The changing landscape of American demography creates new opportunities for the nachos market. The number of consumers preferring Mexican foods in the U.S. is growing rapidly. Nachos are popular snacks among the consumers of the U.S.
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Mar 2017 Truco Enterprises has launched new product On the Border® Nacho Cheese and Zesty Ranch flavored tortilla chip products. These two flavors represent the largest flavored segments in tortilla chips, and the cheese and ranch segments are growing faster than the overall tortilla chip market.
