Market Trends of Ethnic Foods Industry
This section covers the major market trends shaping the Ethnic Foods Market according to our research experts:
Presence of Asian Cuisine in the US Ethnic Food Marketspace
Consumers' interest in Asian cuisines, such as Thai, Korean, Vietnamese, and Japanese, is increasing globally, and they seek bold flavors. This trend is driven by the increasing immigrant population, as well as robust demand from native populations.
Over the past decade, more immigrants have moved to the United States and European countries from Asia than any other region globally. For instance, in the United States, immigrants from Asian countries constituted 47% of the total immigrants to the country in 2021. This has fuelled the demand for ethnic foods in the country.
Furthermore, the penetration of Korean, Japanese, Chinese, and Indian cuisines among the native population has been strong over the review period. During the forecast period, the global ethnic food industry is more likely to rely upon the fusion of ethnic blends.
Increasing Indulgence in Ethnic Food in the Asia-Pacific Region
The growing young population, along with the fast-paced trend of eating and experimenting with various interstate and inter-country food cuisines frequently, has provided many growth opportunities for ethnic food services operations in the Asia-Pacific region.
The increasing use of social media among Indians and people from other developing countries has enabled them to share their culinary experiences, urging consumers to try new food options and outlets based on the reviews shared. Exploring new culinary experiences for global and authentic regional cuisines is rising among consumers in Asia-Pacific. Moreover, manufacturers are striving to satisfy the demand from consumers for new and different food products with more international favorites, added variety, spices, and bold flavors.
Specialty and international food sales are increasing in supermarkets in Asia-Pacific as consumers, especially millennials, are inclined toward ethnic cuisines. Other factors, such as international travel and globalization policies, influence the market positively.
