Global burritos market segmentation by end-user and geography
Technavio’s report on the global burritos market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user, including foodservice and retail. As projected in 2016, more than 74% of the market share originated from the foodservice end-user segment. The increasing number of foodservice outlets offering burritos is expected to help the market grow during the forecast period.
Based on geography, the global burritos market has been segmented into APAC, the Americas and EMEA. As of 2016, the Americas has a market share of approximately 60%. A better standard of living and the rise in middle-class families is driving the demand for burritos in the Americas.
“In the Americas, consumers follow a busy schedule and hectic lifestyles. This leaves them with little time for preparing meals at home. Therefore, most of the consumers prefer foodservice outlets like burrito shops to have a meal. In the US, people prefer burritos for breakfast, due to which many foodservice chains have started offering burritos as a part of their menus,” says Manjunath Reddy, a lead analyst at Technavio for food research.
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Burritos market: competitive vendor landscape
The market for burritos changes rapidly according to consumer demands and preferences. The changing consumer spending patterns affect the vendors performance in the market. Change in consumer tastes; regional, national, and local economic conditions; and demographic trends also play a pivotal role in the global burritos market. Changes in economic conditions, effects consumers' living standards which will also affect the business of the vendors.
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Other topics covered in the report:
- Growing popularity of Latin American cuisines
- Increasing number of burrito chains
- Fluctuations in raw material prices
- Risks associated with suppliers
- Extensive marketing activities and campaigns
- Growing popularity of food ordering through online portals and mobile apps
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