$84.18 Billion Ethnic Foods Market by Cuisine Type, Food Type, Distribution Channel, and Region – Global Forecast to 2028 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Ethnic Foods Market by Cuisine Type, Food Type, Distribution Channel, and Region 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global ethnic foods market size reached US$ 49.43 Billion in 2022. Looking forward, the market is set to reach US$ 84.18 Billion by 2028, exhibiting a CAGR of 9.28% during 2022-2028.
The rising consumer interest in ethnic foods, growing immigration rates, and the introduction of ethnic fusion cuisines represent some of the key factors driving the market.
Ethnic foods are traditional cuisines originating from the heritage and culture of ethnic groups, religions, or countries. It includes Mexican, Indian, American, Italian, Greek, Chinese, Ethiopian, Cambodian, Japanese, Thai, and Korean foods. They are prepared using ingredients acquired from local plant and animal sources without adding any adulterants, flavors, or colors.
Dumplings, spring rolls, yakisoba, baleadas, yuca frieta, ropa vieja, arepas, biryani, dolma, and crepes are some popular ethnic foods. They are healthy, sustainable, and highly nutritious products that provide a balanced diet, improve overall health, boost immunity, detoxify the body, and reduce the risk of diabetes, obesity, and cardiovascular diseases (CVDs).
Ethnic food offers cultural diversity and nutritional value and provides new experiences through exposure to new flavors, dishes, and ingredients.
Ethnic Foods Market Trends:
The rising consumer interest in ethnic foods across the globe is one of the key factors driving the market growth. Ethnic foods are widely consumed as they are healthy, nutritious, and delicious products that offer new experiences, assist in understanding different cultures, and provide exposure to exotic spices and flavors.
In addition to this, increasing consumer inclination towards experimenting, eating out, and experiencing inter-country foods on a regular basis is acting as another growth-inducing factor. Furthermore, the widespread adoption of ethnic foods among immigrants, as it provides the satisfaction of eating native food while living in another country and bringing back their cultural food traditions, is facilitating the market growth.
Apart from this, rising demand for ready-to-eat (RTE), ready-to-cook (RTC), and frozen ethnic foods, such as noodles, pizza, hot dogs, soups, curries, and pasta due to enhanced convenience, longer shelf-life, and changing consumer dietary preferences is favoring the market growth.
Additionally, the introduction of ethnic fusion cuisines that blend the culinary tradition of two or more countries to create innovative dishes with high nutritional content, unique tastes, and exotic flavors is positively influencing the market growth. Along with this, manufacturers are increasing their efforts to augment product quality, improve packaging, expand cuisine variants, and enhance consumer convenience, which, in turn, is propelling the market growth.
Moreover, the increasing establishment of specialized ethnic food supermarkets, hypermarkets, and retail stores, due to the rapid globalization of food supplies, is creating a positive outlook for the market.
Other factors, including rising consumer expenditure capacities of consumers, easy product availability across e-commerce platforms, increasing health-consciousness and availability of healthier food options, and rapid proliferation of ethnic food restaurants and services, are anticipated to drive market growth.
Key Questions Answered in This Report:
- How has the global ethnic foods market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global ethnic foods market?
- What are the key regional markets?
- Which countries represent the most attractive ethnic foods markets?
- What is the breakup of the market based on the cuisine type?
- What is the breakup of the market based on the food type?
- What is the breakup of the market based on the distribution channel?
- What is the competitive structure of the global ethnic foods market?
- Who are the key players/companies in the global ethnic foods market?
Competitive Landscape
- Ajinomoto Co. Inc.
- Asli Fine Foods
- McCormick & Company Inc.
- MTR Foods Pvt. Ltd. (Orkla ASA)
- Natco Foods Ltd.
- Old El Paso (General Mills)
- Santa Maria UK Ltd. (Paulig Group)
- TRS Ltd.
Key Market Segmentation:
Cuisine Type Insights:
The report has also provided a detailed breakup and analysis of the ethnic foods market based on the cuisine type. This includes American, Chinese, Japanese, Mexican, Italian, and others. According to the report, Chinese represented the largest segment.
- American
- Chinese
- Japanese
- Mexican
- Italian
- Others
Food Type Insights:
A detailed breakup and analysis of the ethnic foods market based on the food type has been provided in the report. This includes vegetarian and non-vegetarian. According to the report, non-vegetarian accounted for the largest market share.
- Vegetarian
- Non-Vegetarian
Distribution Channel Insights:
A detailed breakup and analysis of the ethnic foods market based on the distribution channel has been provided in the report. This includes food services and retail stores. According to the report, retail stores accounted for the largest market share.
- Food Services
- Retail Stores
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/qvfyl7
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