The burritos market share will post an incremental growth of USD 1.44 billion, progressing at a CAGR of 3.54% during the forecast period. The growing popularity of Latin American cuisines will offer immense growth opportunities to market vendors. The burritos market is fragmented, and the vendors are deploying growth strategies such as using low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Burritos Market by End-user and Geography - Forecast and Analysis 2021-2025” provides a detailed market analysis of the prevalent market forces, trends, and challenges that are likely to impact the market in focus.
The burritos market is segmented by end-user (food service sector and retail sector) and geography (North America, Europe, APAC, South America, and MEA).
The growth of the burritos market in the food service sector segment will be significant during the forecast period. The increasing number of food service outlets offering burritos is expected to help the market grow during the forecast period.
By geography, factors such as improved living standards and the rise in the number of middle-class families will drive the demand for burritos market growth in North America over the forecast period. 49% of the market's growth will originate from North America. US and Mexico are the key markets for burritos market in North America
The growing popularity of Latin American cuisines will directly influence the sales of burritos. In addition, factors such as changing lifestyles and a rise in demand for healthy convenient food are the major burritos market trends that will have a positive impact on market growth. However, fluctuations in raw material prices will hamper the burritos market growth.
Some of the major burrito market vendors are Amys Kitchen Inc., Chick fil A Inc., Chipotle Mexican Grill Inc., Conagra Brands Inc., Del Taco Restaurants Inc., Hormel Foods Corp., Nestle SA, Ruiz Food Products Inc., Tavistock Freebirds LLC, and YUM! Brands Inc.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2021-2025.
CAGR of the burritos market forecast during 2021-2025.
Market-level data on units, average selling prices, and values of the burrito's market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the burritos market.
Burritos industry growth across North America, Europe, APAC, South America, and MEA.
