The global vegetarian taquitos market is expected to be valued at USD 124 million in 2023 and reach a valuation of USD 217.9 million by 2033. The demand for vegetarian taquitos is estimated to register a 6.5% CAGR.
The sales of vegetarian taquitos are expected to grow in the coming years, driven by several key drivers, trends, and opportunities. One of the key drivers of the market is the growing demand for convenience food. Consumers are increasingly looking for convenient, easy-to-prepare food options, and vegetarian taquitos are seen as a convenient, portable snack or meal option.
Another key driver of the market is the increasing popularity of Mexican cuisine. Mexican cuisine is becoming increasingly popular around the world, and vegetarian taquitos are seen as a traditional Mexican dish. This is likely to drive demand for vegetarian taquitos.
The growing health consciousness is also driving the market, as consumers are becoming more health-conscious and are looking for food options that are perceived as being healthier. As a result, companies are investing in research and development to create healthier vegetarian taquitos options, such as using whole wheat tortillas or incorporating more vegetables.
The increase in the vegetarian and vegan population is also driving the market for vegetarian taquitos. The number of vegetarians and vegans has been growing in recent years, and this is likely to drive demand for vegetarian taquitos. The increase in disposable income is also driving the market, as with an increase in disposable income, consumers are more likely to purchase vegetarian taquitos as a convenient and tasty snack or meal option.
The expansion of distribution channels is also contributing to the market growth. The expansion of distribution channels, such as supermarkets, convenience stores, and online retailers, is expected to make it easier for consumers to access vegetarian taquitos, further driving market growth.
Innovations in packaging and preservation technology are also helping the market to expand, as advancements in packaging and preservation technology allow longer shelf life and better preservation of the quality of vegetarian taquitos, making it easier for consumers to access them.
| Attributes | Details |
|---|---|
| Vegetarian Taquitos Market CAGR (2023 to 2033 ) | 6.5% |
| Vegetarian Taquitos Market Size (2023) | USD 124 million |
| Vegetarian Taquitos Market Size (2033) | USD 217.9 million |
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The global need for vegetarian taquitos recorded a CAGR of 6.7% between 2016 and 2022, and it's anticipated to expand at a CAGR of 6.5% between 2023 and 2033.
| Short-term Outlook (2023 to 2026) | The growth of the food service sector, such as restaurants and fast food chains, is likely to drive demand for vegetarian taquitos, as they are a popular menu item in these establishments. |
|---|---|
| Mid-term Outlook (2026 to 2029) | With the increase in snacking culture, people are looking for more convenient and easy-to-grab snacks. Vegetarian taquitos can be one of the options for that. As disposable income increases, consumers are more likely to purchase vegetarian taquitos as a convenient and tasty snack or meal option. |
| Long-term Outlook (2029 to 2033) | The expansion of distribution channels, such as supermarkets, convenience stores, and online retailers, makes it easier for consumers to access vegetarian taquitos, further driving market growth in the long term. |
Several drivers are contributing to the growth of the vegetarian taquitos market, including
Growing Demand for Convenience Food: Consumers are increasingly looking for convenient, easy-to-prepare food options, and vegetarian taquitos are seen as a convenient, portable snack or meal option.
Growing Health Consciousness: Consumers are becoming more health-conscious and are looking for food options that are perceived as being healthier. As a result, companies are investing in research and development to create healthier vegetarian taquitos options, such as using whole wheat tortillas or incorporating more vegetables. This health consciousness has become more prevalent post the pandemic.
Increase in Vegetarian and Vegan Population: The number of vegetarians and vegans has been growing in recent years, and this is likely to drive demand for vegetarian taquitos.
Despite these drivers, several restraints may limit the growth of the vegetarian taquitos industry, including
Numerous vegetarians and vegans in the United States have been growing in recent years, driven by health concerns, environmental concerns, and animal welfare concerns. This has led to an increase in demand for plant-based meat alternatives, including vegetarian taquitos.
The United States government has been supportive of the plant-based meat industry, with initiatives such as the USDA's ‘Know Your Farmer, Know Your Food’ program, which aims to promote sustainable agriculture and healthy eating.
Companies in the market are increasing their investment in marketing campaigns to raise awareness of their products and increase their market share.
Top Companies in the United States Vegetarian Taquitos Industry
| CAGR (2023 to 2033) | 7.7% |
|---|---|
| United Kingdom Vegetarian Taquitos Market Share | 9.6% |
| United Kingdom Vegetarian Taquitos Market Valuation (2022) | USD 11.2 million |
| United Kingdom Vegetarian Taquitos Market Valuation (2033) | USD 25.4 million |
The United Kingdom government has been supportive of the vegetarian and vegan industry, with initiatives such as the ‘Eat Better’ campaign, which aims to encourage the consumption of more plant-based foods. Many innovative companies in the United Kingdom are investing in research and development to create new and improved plant-based meat alternatives, including vegetarian taquitos.
The United Kingdom has a well-established distribution network for vegetarian and vegan food products, which makes it easy for consumers to find and purchase these products.
Top Companies in the United Kingdom Vegetarian Taquitos Industry
| CAGR (2023 to 2033) | 5.5% |
|---|---|
| China Vegetarian Taquitos Market Share | 9.2% |
| China Vegetarian Taquitos Market Valuation (2022) | USD 10.69 million |
| China Vegetarian Taquitos Market Valuation (2033) | USD 19.3 million |
While vegetarian taquitos are not yet a common food item in China, the growing interest in Western and fusion cuisine, as well as the increasing awareness of the negative impact of animal agriculture on the environment and health concerns, are likely to drive the demand for plant-based meat alternatives, including vegetarian taquitos, in the future.
| CAGR (2023 to 2033) | 6.9% |
|---|---|
| India Vegetarian Taquitos Market Share | 3.8% |
| India Vegetarian Taquitos Market Valuation (2022) | USD 4.4 million |
| India Vegetarian Taquitos Market Valuation (2033) | USD 9.2 million |
Vegetarian taquitos are not as popular in India as they are in other parts of the world, as they are not a traditional Indian food. However, they can be found in several restaurants and supermarkets in India, particularly in urban areas where there is a larger expat population and more diverse food options.
With the increasing health-conscious diet and vegetarians & vegans in India, there has been a growing demand for meat-free options, including vegetarian taquitos. Various Indian companies are also starting to create their version of vegetarian taquitos, using Indian spices and ingredients, to cater to this demand.
| Segment | Sales Channel |
|---|---|
| Top Sub-segment | Convenience Stores |
| Market Share | 6.5% |
| Segment | Product Type |
|---|---|
| Top Sub-segment | Non-veg Filling |
| Market Share | 37.9% |
Factors such as increasing consumer demand for convenience and on-the-go products, as well as a growing population, are expected to drive retail industry growth. Additionally, many convenience store retailers are expanding their product offerings to include healthier options, such as vegetarian and vegan options, to meet changing consumer preferences. This could also potentially lead to growth in the market for vegetarian taquitos in convenience stores.
There are several competitive strategies that companies follow while making vegetarian taquitos, including
Product Differentiation: This strategy involves creating a unique product or uniquely positioning a product to differentiate it from competitors. Gardein, a Canada-based company that produces meatless foods, uses a product differentiation strategy by offering a wide variety of vegetarian and vegan options, such as taquitos, that are made from non-GMO soy and wheat, ancient grains, and veggies.
Cost Leadership: This strategy involves being the lowest-cost producer in the market. Companies may use economies of scale, efficient production processes, or lower-cost ingredients to achieve this. Amy's Kitchen is a company that uses a cost leadership strategy by using organic and non-GMO ingredients, which are also gluten-free and vegan, in their vegetarian taquitos.
Branding: This strategy involves creating a strong brand identity to build customer loyalty and recognition. Tofurky, a company that uses a branding strategy by creating a strong brand identity around sustainability, ethical sourcing, and animal welfare. They offer different types of vegetarian taquitos, including vegan options.
Distribution: This strategy involves making the product available in as many locations as possible. Trader Joe's, a company that uses a distribution strategy by making its vegetarian taquitos available in its retail stores and online retailers. They also offer a variety of flavors.
The growth potential of the market is 6.5% through 2033.
Innovations in packaging and preservation technology are potential opportunities.
Non-veg Filling is driving the market growth.
The market is estimated to secure a valuation of USD 124 million in 2023.
Increased demand in the food service sector drives sales.
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Vegetarian Taquitos Market
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