Vegetarian Tacos Market Valuation is Expected to Reach US$ 308 Million by 2033 | FMI

Initially estimated to be worth $124.5 Mn in 2023, the global vegetarian tacos market is projected to grow to a total value of $308 Mn by 2033.

Demand for ready-to-eat foods has increased, contributing to the expansion of Mexico’s food industry. The global trend toward urbanisation has increased disposable income. This explains the rising popularity of quick and easy foods like Mexican. Many working people in developing countries adore Mexican food for the same reason that fast food is so common in the rich world. As a result, the demand for ready-to-eat Mexican cuisine is growing over the world.

Vegetarian tacos are expected to see a CAGR of 10.6% thanks to these reasons, with the United Kingdom, the United States, Germany, and Japan emerging as major manufacturers.

The rising demand for vegetarian tacos around the world can be directly attributed to the increasing demand for other Latin American dishes. Opportunities for growth in the vegetarian tacos market are emerging as both the Hispanic population and the popularity of Mexican cuisine expand across the United States. In recent years, there has been an exponential increase in the number of Americans who have a strong preference for Mexican cuisine. Mexican staples like vegetarian tacos are booming thanks to rising interest in healthful, flavorful, and convenient fast food.

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The rising desire for quick and healthy meals is a major factor in the expansion of the vegetarian tacos industry.

Ready-to-eat (RTE) foods, such as prepackaged vegetarian tacos, have seen a rise in popularity as busy people seek out quick and easy meal options. Consumers’ need for downtime has resulted in a rise in the popularity of ready-to-eat meals. The rise in both the number of people living alone and the prevalence of parties also contributes to the need for food that is easy to prepare and consume. The market could be bolstered by the increasing preference for fresh, wholesome meals.

The fluctuating cost of food commodities and raw materials is a serious problem for restaurants of all stripes. In October 2020, the Food Price Index reported by the Food and Agriculture Organization (FAO) rose to an average of 100.9 points, up 3.1% from September and 6.0% from October 2019. These price swings disrupt manufacturing, which in turn creates a mismatch between supply and demand.

Key Takeaways

  • In 2022, the quick-service restaurants (QSRs) end-user segment dominated the global vegetarian tacos market in terms of revenue due to the increasing popularity of exotic cuisines.
  • In 2022, North America dominated the global vegetarian tacos market because of its residents’ strong purchasing power and appetite for experimental cuisine.
  • Asia-Pacific is expected to grow at the quickest rate during the forecast time frame.
  • Demand for vegetarian tacos is on the rise due to several different variables, including rising living standards in urban areas, an increase in disposable money, and an ageing population.

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Vendor Analysis

The competitive landscape in vegetarian tacos industry is very fragmented due to the presence of many different companies, both established and new, all with varying strengths and weaknesses. Investment in increased production and technological capacity is being made by businesses in order to create and introduce new vegan product versions.

Chipotle Mexican Grill Inc. – The establishment serves a variety of Mexican dishes, including vegetarian tacos, salads, and more.
Food Concepts International – Seasonal, vegetarian, gluten-free, and other options are just some of the seasonal and vegetarian cuisine that the company provides.
Chick-fil-A Inc. Mexican dishes, such Pineapple chicken tacos, are among the options provided by the company.


Key Segments

By Sales Channel:

  • Convenience Stores
  • Supermarkets
  • Hypermarkets
  • Others

By Product Type:

  • Non-Veg Filling
  • Veg Filling

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)

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Frequently Asked Questions

  • How Much is the Vegetarian Tacos Market Worth?
  • What is the Demand Outlook for the Vegetarian Tacos Market?
  • At What Rate Does the Vegetarian Tacos Market Grow in the Last Five Years?
  • Which Segment has the Highest Potential in the Vegetarian Tacos Market?

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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