According to the latest report by IMARC Group, titled, “Ethnic Foods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global ethnic foods market size reached US$ 49.43 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 84.18 Billion by 2028, exhibiting a growth rate (CAGR) of 9.19% during 2023-2028.
Ethnic foods refer to traditional cuisines originating from the heritage and culture of various ethnic groups, religions, or countries. They consist of dishes from all over the world, including Mexican, Indian, American, Italian, Greek, Chinese, Ethiopian, Cambodian, Japanese, Thai, and Korean cuisines. They are prepared using natural ingredients acquired from local plant and animal sources and do not contain any added adulterants, flavors, or colors. They are healthy and nutritious and contribute to a balanced diet, improve overall health, boost immunity, detoxify the body, and reduce the risk of diabetes, obesity, and cardiovascular diseases (CVDs). At present, ethnic foods are gaining immense traction across the globe as they offer cultural diversity and nutritional value.
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Ethnic Foods Market Trends and Drivers:
The global ethnic foods market is primarily driven by shifting consumer inclination toward trying new and exotic cuisines from different cultures. Moreover, ethnic foods are healthy, nutritious, and delicious products that offer unique experiences and exposure to exotic flavors and spices. In line with this, the emerging trend of eating out, experimenting with food, and exploring new cuisines is positively influencing market growth. Additionally, increasing demand for ready-to-eat, ready-to-cook, and frozen ethnic foods, which offer enhanced convenience and longer shelf-life, has catalyzed market growth. Furthermore, the rising establishment of specialized ethnic food supermarkets, hypermarkets, and retail stores is contributing to the market growth. Other factors, including changing dietary preferences of consumers, easy product availability on e-commerce platforms, and increasing health consciousness, are also anticipated to drive the market further.
Ethnic Foods Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- 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., etc.
The report has segmented the market based on cuisine type, food type, and distribution channel.
Cuisine Type Insights:
- American
- Chinese
- Japanese
- Mexican
- Italian
- Others
Food Type Insights:
- Vegetarian
- Non-Vegetarian
Distribution Channel Insights:
- Food Services
- Retail Stores
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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