The global vegetarian taquitos market is expected to be valued at US$ 124 million in 2023 and reach a valuation of US$ 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.
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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.
Companies such as Beyond Meat and Amy’s Kitchen have been producing vegan taquitos made from ingredients like quinoa, black beans, and other plant-based proteins. These tasty treats are sure to appeal people looking for alternatives to animal-based meats.
For instance, in April 2020, Daiya Foods, an Otsuka Pharmaceutical company, is one of the plant based foods association’s founding members in the United States. The dairy substitute company unveiled new product lines and inventive reformulations, including the first-ever pizza crust made with cauliflower, sweet potato, and spinach.
Key Takeaways from the Vegetarian Taquitos Market
- The global vegetarian taquitos market is predicted to accelerate at 5% CAGR from 2023 to 2033.
- The revenue generated from vegetarian taquitos sales is valued at US$ 124 million by 2023.
- In 2033, the global vegetarian taquitos are poised to attain a total of US$ 217.9 million.
- Increasing popularity of Mexican cuisine will boost the demand for vegetarian taquitos in the United States.
“Mexican cuisine is gaining popularity in the United States and is likely to increase the sales of vegetarian taquitos. Key manufacturers are innovating a range of tasty dishes infused with different flavors.” Says an FMI Analyst.
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Competition Landscape in the Vegetarian Taquitos Market
Leading companies in the vegetarian taquitos market are working to introduce a range of tasty dishes with an assortment of flavors. These companies place a significant priority on organic and gluten-free components to offer superior quality and features.
Kroger, Nextbite, and Daiya Foods are key companies in the United States vegetarian taquitos market.
Recent Developments:
- In November 2022, Kroger is the prominent grocery chain to carry planet based foods’ wholesome plant-based meat, which is produced by the sole firm and uses hemp as its primary component. The brand-new green chili Southwest hemp burger, Spanish taquitos, and classic taquitos from planet based foods are all vegan and free of gluten. The first retailer to sell the brand’s vegan taquitos is Kroger.
- In March 2022, Nextbite, a pioneer in virtual dining and technology, has partnered with MorningStar Farms Incogmeato for its first CPG (consumer goods group) project. A Kellogg branch called MorningStar Farms Incogmeato manufactures vegan and vegetarian cuisine.
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Key Segments
Product Type:
- Veg Filling
- Non-veg Filling
Sales Channel:
- Convenience Store
- Supermarkets
- Hypermarkets
- Others
Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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