IMARC Group, a leading market research company, has recently releases report titled, “Ethnic Foods Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global ethnic foods market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the ethnic foods market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 49.43 Billion |
| Market Forecast in 2028 | US$ 84.18 Billion |
| Growth rate (2023 to 2028) | CAGR of 9.19% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is ethnic foods?
Ethnic foods are traditional dishes from different ethnic groups, religions, or nations that reflect their background and culture. They feature cuisines from all over the world, including Japanese, Thai, Korean, American, Italian, Greek, Chinese, Ethiopian, and Ethiopian. They don’t contain any additional adulterants, flavours, or colours and are made using natural components sourced from nearby plants and animals. 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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What are the growth prospects and trends in the ethnic foods industry?
The growing consumer preference to experience new and unusual cuisines from different cultures is the main factor driving the global market for ethnic foods. Additionally, ethnic meals are wholesome, scrumptious, and healthy dishes that expose consumers to a variety of flavours and spices from throughout the world. 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.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
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