Ethnic Foods Market Growing Demands, Trends and Business Outlook 2021 to 2025

The Ethnic Foods Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data. The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Ethnic Foods Market was valued at USD 36,481.1 million in 2018, and it is projected to register a CAGR of 11.80%, over the forecast period (2019-2024).

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Top Leading Companies of Global Ethnic Foods Market are Ajinomoto Co. Inc., McCormick & Company Inc., General Mills Inc., Associated British Foods PLC, Aryzta AG, Orkla ASA, Paulig Group, Asli Fine Foods, Mars Incorporated, Natco Foods, TRS Ltd, Quality Ethnic Foods Inc. and others.

Key Market Trends:

Presence of Asian Cuisines in the US Ethnic Food Market Space

Consumers interests in Asian cuisines, such as Thai, Korean, Vietnamese, and Japanese, are increasing, globally, and they are seeking bold and spicy flavors. As per the data published in the Pew Research Center report in 2017, there were 20 million Asian-Americans in the United States, an increase of 72%, since 2000, making the Asian population the fastest-growing population group in the country. With an increasing number of Asian-American grocery store chains, Americans are consuming more Asian food than ever. In 2017, iFresh, a Chinese supermarket chain in the United States, introduced its tenth national location and first Texas location in Houston, thus, meeting the demand for ethnic food products among the fast-growing Asian population and the established Vietnamese community.

Also, the Korean chain, H Mart, expanded to 66 locations across 12 states in the United States, with each of its stores offering a range of ready-to-eat food and other food products. The Japanese grocery chain, Mitsuwa, opened its store in Texas, reflecting the growing demand for Asian cuisine in the US ethnic food market. However, Asian-Americans and other consumers looking for Asian cuisine are not finding what they need at the local stores and are often turning to independent grocers for their requirements. An increasing number of supermarket chains desperate for growth in the ethnic food market space are expanding their presence by opening stores that serve specific ethnic products. This may become a bigger focus for supermarkets in the near future.

Asia-Pacific - Fastest Growing Region

The rising young population, along with a fast-paced trend of eating out and experimenting various interstate and inter-country food trend on a frequent basis has provided the plethora of growth opportunities for ethnic food services operation in Asia-Pacific region. The increasing use of social media among the Indians and other developing countries are sharing their culinary experiences urging consumers to try new food options and outlets, based on the reviews shared. Exploring the new culinary experience for both global and authentic regional cuisines are on the rise among consumers in Asia-Pacific.

In China, an increasing number of people willing to prepare international cuisines at home have led supermarket chains, such as Ol, to stock their shelves with ethnic foods.

Authentic Indian cuisine consists of a wide variety of regional and traditional cuisines native to the Indian subcontinent. Indian food is also heavily influenced by religion, cultural choices, and traditions. The cuisine is also influenced by centuries of Islamic rule, particularly the Mughal rule. Several players have entered into the Indian market and offering their products to cater to the growing need for western food in the country. Although Chinese food has been popular in the country, the demand for Italian cuisine is growing rapidly which can positively influence the demand for Italian food products such as Italian pasta sauces.

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Highlights of the Ethnic Foods Market Report:

– Detailed overview of Ethnic Foods Market
– Changing the Ethnic Foods market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Ethnic Foods market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Ethnic Foods Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2015 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Ethnic Foods Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Ethnic Foods industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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