Overview and Scope
Nachos are snack or appetizer that usually includes tortilla chips, on top of which are placed a variety of toppings, including cheese, meat, beans, veggies, and sauces. They can be customized according to personal preferences, and the toppings vary widely based on regional and individual tastes.
Sizing and Forecast
The nachos market size has grown strongly in recent years. It will grow from $1.66 billion in 2023 to $1.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to cultural trends and popularity, casual dining and fast food culture, diverse flavor innovations, cinematic and sporting event popularity, snacking culture.
The nachos market size is expected to see strong growth in the next few years. It will grow to $2.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to healthier alternatives and ingredients, plant-based and specialty nachos, e-commerce and home delivery services, global fusion flavors, focus on authenticity. Major trends in the forecast period include flavor innovation, healthy and specialty ingredients, global fusion and regional variation, premium and gourmet nacho offerings, plant-based and vegan nacho options.
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Segmentation & Regional Insights
The nachos market covered in this report is segmented –
1) By Type: Fried, Baked
2) By Distribution Channel: Hypermarkets And Supermarkets, Departmental Stores, Online Retail, Other Distribution Channels
3) By Application: Restaurant, Household
North America was the largest region in the nachos market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nachos market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing demand for convenience foods is expected to propel the growth of the nacho market going forward. Convenience food is a term that refers to pre-packaged or pre-cooked food items that are intended to be quickly and conveniently consumed or made. Nachos are commonly used as a convenience food in a number of ways, as they are simple to prepare, adaptable, and excellent for quick snacks or casual evenings. For instance, in July 2023, according to the data published by Food and Drinks Malaysia by SAIL Group, a Malaysia-based food and beverage exhibition, the convenience food sector increased by 3.0% in volume in 2023 and is expected to reach 7,829.2 kg by 2027. Furthermore, in Malaysia, the revenue from convenience food amounts to US$31.84 billion in 2022, which is expected to increase by 5.49% during 2022–2027. Therefore, the growing demand for convenience foods is driving the growth of the nacho market.
Key Industry Players
Major companies operating in the nachos market report are Nestle SA, Frito-Lay Inc., Grupo Bimbo S.A.B. de C.V., Conagra Brands Inc., Arca Continental S.A.B. de C.V., Regulas Agro-Organic Pvt Ltd., RW Garcia Co. Inc., Juanita’s Foods, On The Border Mexican Grill & Cantina, Xochitl Inc., Ricos Products Co. Inc., Late July Snacks LLC, Pringles S.A.R.L., Fuletra Snacks Pvt. Ltd., Greendot Health Foods Pvt. Ltd., Orenda Foods Pvt. Ltd., Live Better Brands LLC, Nacho King, E-myth Worldwide Inc., Vans International Foods Inc., Que Pasa Mexican Foods Ltd., Bajo Foods Pvt. Ltd., Masafrica Corn Flour Pty Ltd., Recorn Foods Pvt. Ltd., Gringos Nacho Factory
The nachos market report table of contents includes:
1. Executive Summary
2. Nachos Market Characteristics
3. Nachos Market Trends And Strategies
4. Nachos Market – Macro Economic Scenario
5. Global Nachos Market Size and Growth
..
32. Global Nachos Market Competitive Benchmarking
33. Global Nachos Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Nachos Market
35.Nachos Market Future Outlook and Potential Analysis
36. Appendix
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