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Ethnic Foods Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Ethnic Foods Market is segmented by Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Stores, Others); and by Geography.
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2016 - 2026
Base Year:
2020
Fastest Growing Market:
Asia Pacific
Largest Market:
Europe
CAGR:
11.8 %
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Market Overview
The global ethnic foods market is projected to witness a CAGR of 11.80% during the forecast period (2020 - 2025).
- With the growing immigration rates, due to employment opportunities, higher education, and tourism, the demand for ethnic food has been increasing.
- The ethnic food manufacturers are focusing on the convenience factor, quality of food, cuisine variants, and packaging formats of the products. Therefore, with the increasing consumption of nutritious food and rising capital investment in producing healthy, ethnic-based food, the market studied is expected to gain traction over the forecast period. The market studied continues to diversify, as consumers continue to experiment with new global cuisines. Some of the niche ethnic food categories include the African and Indonesian cuisines that have been growing over the recent past.
- Moreover, after the closure of restaurants, hotels, and other food service facilities during the advent of COVID-19 pandemic, the consumers are expected to further increase the intake of these ready to eat variety of food products, which comes in various ethnicities such as Italian, Indian, Chinese and other, which are popularly demanded across the world.
Scope of the Report
The global ethnic foods market is the segmented distribution channel, the scope includes hypermarkets/supermarkets, convenience stores, online stores, others. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
| By Distribution Channel | |
| Hypermarkets/Supermarkets | |
| Convenience Stores | |
| Online Stores | |
| Other Distribution Channels |
| By Geography | |||||||||
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Key Market Trends
Presence of Asian Cuisines in the United States 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.
Therefore, supermarkets, which are selling Asian ethnic cuisine are also increasing their foothold in the market studied. For instance, 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.
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Increasing Indulgence of Ethnic Food in Asia-Pacific Region
The rising young population, along with a fast-paced trend of eating and experimenting with various interstate and inter-country food cuisines on a frequent basis has provided a plethora of growth opportunities for ethnic food services operation in the 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. Moreover, manufacturers are striving to satisfy the demand of consumers for new and different food products with more international favorites, added variety, spices, and bold flavors.
Speciality and international food aisles are increasing in the Asia-Pacific supermarkets as consumers, especially millennials are inclined towards ethnic cuisines. Other factors such as international travel and globalization policies are also positively influencing the market.
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Competitive Landscape
The global ethnic foods market is fragmented, with various small and medium-sized companies. Some of the major companies, which are included in the market studied are Ajinomoto Co. Inc., McCormick & Company, Inc., Associated British Foods plc, and General Mills, Inc.
Owing to the diversified product portfolio, which includes popular cuisines, such as Chinese, Italian, Indian, English, French, Mexican, Caribbean, and African, the leading companies are marketing the various cuisines and culture to the consumers. The top players have also succeeded in providing the availability of their products across multiple channels of distribution, in particular supermarkets and hypermarkets, which also happen to hold the largest segment in terms of distribution channels of the ethnic food market.
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Table Of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Distribution Channel
5.1.1 Hypermarkets/Supermarkets
5.1.2 Convenience Stores
5.1.3 Online Stores
5.1.4 Other Distribution Channels
5.2 By Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 Spain
5.2.2.4 France
5.2.2.5 Italy
5.2.2.6 Russia
5.2.2.7 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 Rest of the World
5.2.4.1 South America
5.2.4.2 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 Ajinomoto Co. Inc.
6.4.2 McCormick & Company Inc.
6.4.3 Associated British Foods PLC
6.4.4 General Mills, Inc.
6.4.5 Orkla ASA
6.4.6 ARYZTA AG
6.4.7 Paulig Group
6.4.8 Asli Fine Foods_
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
*List Not Exhaustive
** Subject to Availability
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