Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Ethnic Foods Market by Cuisine Type (American, Chinese, Italian), Food Type (Non-Vegetarian, Vegetarian), Distribution Channel - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Ethnic Foods Market grew from USD 2.20 billion in 2023 to USD 2.37 billion in 2024. It is expected to continue growing at a CAGR of 8.11%, reaching USD 3.80 billion by 2030.
As global interaction increases, ethnic foods also gain popularity outside their regions of origin, contributing to global culinary diversity. The growth of the ethnic foods market is significantly influenced by the increase in international migration for work and education, resulting in greater exposure to and demand for diverse cuisines. In addition, consumers' growing desire for new and innovative dining experiences has further propelled the popularity of ethnic foods, driving market expansion as people explore different culinary traditions and flavors worldwide.
However, product authenticity and misrepresentation issues, such as inaccurately labeled or culturally inappropriate products, hinder the growth of the ethnic foods market by reducing consumer trust and satisfaction. The rising trend of frozen ethnic foods offers a lucrative opportunity for the expansion of the ethnic foods market as it caters to the increasing consumer demand for diverse, convenient, and culturally rich meal options that can be prepared at home.
Regional Insights
The ethnic foods market in the Americas is experiencing significant growth, driven by the increasing cultural diversity and consumer interest in new and exotic flavors. In the United States and Canada, a growing demand for Middle Eastern, South American, and African foods is driven by demographic changes and a greater openness to exploring authentic, global cuisines. Supermarkets and restaurants are expanding their ethnic food offerings, and there is a noticeable increase in specialty food stores catering to specific cuisines. The factors influencing the market include migration patterns, culinary curiosity, and the influence of social media on food trends.
The Asia-Pacific region is remarkably diverse in its ethnic foods, reflecting the rich culinary traditions of countries, including China, India, Japan, and Thailand. In this region, the market for ethnic foods is driven by domestic consumers seeking regional specialties from within the continent itself. The driving forces behind the growth of the ethnic foods market in the Asia-Pacific region include urbanization, increased travel within the region, and the influence of pop culture.
In the EMEA region, the market is characterized by a wide range of ethnic cuisines due to its cultural and geographical diversity. European countries, including the UK, France, and Germany, demand Asian and Middle Eastern foods influenced by historical migration and modern global connectivity. In the Middle East, there is a blend of traditional foods with modern influences, with a noticeable growth in American and Asian cuisine. With its diverse culinary traditions, Africa is showcasing a gradual inclusion of global food trends, particularly in urban centers. Market growth in EMEA is supported by the region's cosmopolitan cities, travel and tourism, and a younger population eager to explore new dining experiences.
Recent Developments
Expansion of Roland Foods' Asian Pantry Line with Innovative Product Launches
Roland Foods has broadened its range of Asian-inspired culinary products with the introduction of seven new items aimed at enhancing global flavor accessibility. This initiative supports the company's ongoing commitment to bringing diverse and high-quality ingredients to both professional chefs and home cooking enthusiasts. The notable additions include the unique Roland Hot Green Chili Crunch, distinguished by its complex flavor profile using authentically sourced green chili peppers and dried stem lettuce, perfect for a variety of dishes from stir-fries to pizza.
Haldiram's Collaborates with Futurelife to Introduce Nutritional Foods in India's Market
Haldiram has teamed up with Africa's nutritional giant, Futurelife, to launch a new lineup of health-centric food products across North India. This alliance addresses the increasing consumer demand for healthier food options, a trend significantly amplified by urban dietary shifts in India. The product range consists of Smart Foods, Smart Oats and Ancient Grains, Crunchy Granola, and High Protein. Intending to leverage Haldiram's extensive retail network, these products are set to be distributed through prominent e-commerce platforms, including Amazon, Flipkart, and others, as well as through offline stores.
CCI Prime's Growth in the Authentic Asian Cuisine Market
CCI Prime collaborated with Frontenac and industry stalwart Howard Eirinberg to broaden its market reach and enhance its product offerings. This collaboration aims to introduce authentic Asian dishes to mainstream retail consumers while maintaining high-quality standards. The introduction of a state-of-the-art facility signals a strategic move to cater to the increasing demand from both new and existing customers
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $2.37 Billion |
| Forecasted Market Value (USD) by 2030 | $3.8 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Market Dynamics
Market Segmentation Analysis
- Cuisine Type: Widening demand for Chinese cuisine owing to its diverse flavors and variety of dishes that appeal to different palates
- Distribution Channel: Increasing adoption of supermarkets and hypermarkets to offer various products to consumers under one roof
Market Drivers
- Rising international migration for work and education purposes
- Consumer inclination toward innovative and creative cuisines
Market Restraints
- Issues associated with product authenticity and misrepresentation
Market Opportunities
- Emerging trend of frozen ethnic food
- Significant expansion of traditional multi-cuisine restaurants
Market Challenges
- Time-consuming manufacturing and dietary concerns associated with ethnic foods
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- Ajinomoto Co., Inc.
- Aryzta AG
- Asli Fine Foods
- Associated British Foods PLC
- CJ CheilJedang Corp.
- Conagra Brands, Inc.
- General Mills Inc.
- Goya Foods, Inc.
- Grupo Bimbo
- Haldiram Foods International Pvt Ltd
- Hormel Foods Corporation
- ITC Limited
- JBS S.A.
- Lactalis Group
- McCormick & Company, Inc.
- MTR Foods Pvt. Ltd. by Orkla ASA
- Natco Foods Ltd.
- Nestle S.A.
- Nongshim Co., Ltd.
- Parmalat S.p.A.
- PepsiCo, Inc.
- Premier Foods PLC
- Quality Ethnic Foods Inc.
- Santa Maria UK Ltd. by Paulig Ltd
- Tasty Bite Eatables Limited by Mars, Incorporated
- The Kraft Heinz Company
- TRS Group (UK) Limited
- Tyson Foods, Inc.
Market Segmentation & Coverage
Cuisine Type
- American
- Chinese
- Italian
- Japanese
- Mexican
Food Type
- Non-Vegetarian
- Vegetarian
Distribution Channel
- Food Services
- Retail Stores
- Supermarkets/Hypermarkets
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/5c40or
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