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 advances in the market.
Report Highlights
How big is the ethnic food 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,
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 SAA)
- Natco Foods Ltd.
- Old El Paso (General Mills)
- Santa Maria UK Ltd. (Paulig Group)
- TRS Ltd., etc.
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