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 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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What are the growth prospects and trends in the ethnic foods industry?
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.
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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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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