Global Ethnic Foods Market to Reach US$ 110.4 Billion by 2032, Propelled by the Growing Multiculturism and Globalization

The latest report by IMARC Group, titled "Ethnic Foods Market Report by Cuisine Type (American, Chinese, Japanese, Mexican, Italian, and Others), Food Type (Vegetarian, Non-Vegetarian), Distribution Channel (Food Services, Retail Stores), and Region 2024-2032," finds that the global ethnic foods market size reached US$ 54.0 Billion in 2023. Ethnic foods refer to culinary traditions, recipes, and dishes that are associated with a specific cultural or regional group. They embody the unique flavors, ingredients, and cooking techniques that are characteristic of a particular ethnic community or country. Ethnic foods often reflect the cultural heritage, history, and geographical influences of a specific group. These foods may include traditional dishes, street food, snacks, beverages, and desserts that are passed down through generations, maintaining their distinct cultural identity. They can range from the spicy and aromatic curries of India, the savory and umami-rich sushi of Japan, the bold and tangy flavors of Mexican cuisine, to the intricate and diverse dishes of Mediterranean cuisine. Restaurants, food trucks, and international food markets often specialize in serving authentic ethnic foods, providing a platform for people to savor traditional dishes from various cultures. In recent years, with the rise of globalization and international trade, it has become easier to access ethnic ingredients and spices, allowing individuals to recreate authentic ethnic dishes in their own kitchens.

Global Ethnic Foods Market Trends:

One of the primary factors driving the market is the growing multiculturalism and globalization. Nowadays, Individuals have become more open to exploring diverse flavors and culinary traditions, thus escalating the demand for ethnic foods. Additionally, there has been a rising popularity of ethnic foods among immigrants and diaspora communities. These communities create a demand for authentic ethnic ingredients and dishes, leading to the establishment of specialized grocery stores, restaurants, and food markets catering to their needs. Other than this, culinary tourism has gained momentum, with travelers seeking authentic food experiences as part of their trips. Due to this, exploring the local cuisine and trying ethnic foods have become integral to the travel experience, thus creating a positive market outlook. Other than this, ethnic foods often incorporate a wide variety of fresh ingredients, herbs, spices, and diverse cooking techniques, resulting in flavorful and nutritious meals. As a result, health-conscious consumers prefer ethnic cuisines as they are perceived to incorporate nutritious ingredients, such as whole grains, legumes, vegetables, and lean proteins, into their diets. Furthermore, the rising number of social media and food influencers has encouraged food enthusiasts and influencers share their culinary experiences, recipes, and recommendations, generating interest and curiosity in trying different ethnic foods. Moreover, the emergence of fusion cuisine that blend culinary traditions and flavors of two or more countries is accelerating product sales. Looking forward, IMARC Group expects the market to reach US$ 110.4 Billion by 2032, exhibiting a growth rate (CAGR) of 8.02% during 2024-2032.

Market Summary:

• On the basis of the cuisine type, the market has been segmented into American, Chines, Japanese, Mexican, Italian, and others. Chinese currently represents the most popular cuisine type.
• Based on the food type, the market has been classified into vegetarian and non-vegetarian. Currently, non-vegetarian holds the largest market share.
• On the basis of the distribution channel, the market has been bifurcated into food services and retail stores. At present, retail stores account for the majority of market share.
• Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) exhibits a clear dominance in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
• The competitive landscape of the market has been examined in the report, with some of the key players being 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), and TRS Ltd.

Report Coverage:

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