Showing posts with label Key Competitors in Ethnic Foods Market. Show all posts
Showing posts with label Key Competitors in Ethnic Foods Market. Show all posts

Monday, May 29, 2023

Global Ethnic Foods market is expected to reach ~USD 80 Bn by 2028F: Ken Research

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Global Ethnic Foods Market By Geography

The Global Ethnic Foods market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

Asia Pacific accounted for the largest market share among all regions in 2022, owing to numerous expansion prospects for ethnic food services businesses that have emerged in the Asia-Pacific region.

Residents of India and other developing nations are using social media more and more to share their culinary experiences, which encourages customers to try new restaurants and cuisine options based on the ratings given.

Consumers in the Asia-Pacific region are increasingly interested in trying out new cuisines, both internationally and from genuine regional cuisines. Additionally, producers are working hard to meet consumer demand for novel and distinctive culinary products by including more international classics, greater variety, spices, and strong tastes.

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Competition Scenario In Global Ethnic Foods Market

The Global Ethnic Foods Market is highly competitive with ~1,000 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in ethnic food. Global players constitute ~10% of competitors, while country niche players represent the largest number of competitors. The market is highly competitive since key players are focusing on R&D and launching new products with different kinds of ethnic food cuisines to meet growing consumer demand for a variety of cuisines and are investing in producing healthy nutritious rich ethnic-based foods as people adopt healthier life. Some of the major players in the market include Ajinomoto Co. Inc., Taco Bell, ARYZTA AG, Asli Fine Foods, McCormick & Company Inc., General Mills, MTR Foods, Wanis International Food, Santa Maria UK Ltd, Nestle. And others.

What Is The Expected Future Outlook For The Overall Global Ethnic Foods Market Across The Globe?

The Global Ethnic Foods market was valued at USD ~billion in 2022 and is anticipated to reach USD ~80 billion by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Ethnic Foods market is driven by increasing the accessibility and availability of ethnic food items, the increasing number of specialized ethnic food supermarket chains in developed nations. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing collaboration and emergence of new products, the Global Ethnic Foods market is changing rapidly. For instance, In October 2021, General Mills expanded its Old El Paso a range of Tex-Mex foods that includes dinner kits, tacos, tortillas, and more, line by offering new flavored taco shells in collaboration with crisp brand Takis in the United States.

In November 2020, McCormick & Business Inc. announced a definitive agreement to acquire the parent company of Cholula Hot Sauce®, a premium hot sauce brand with authentic Mexican characteristics for US$800 million in cash,

The Global Ethnic Foods Market is anticipated to grow significantly during the projected period (2022-2028) as there is a growing demand for ethnic food as a result of increased employment opportunities, access to higher education, and tourism. Moreover, the market is expected to expand during the forecasted period as a result of increased investment in the production of nutrient-dense foods and healthy ethnic foods. Though the market is competitive with ~1,000 participants, country-niche players control the dominant share and regional players also hold a significant share.

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Key Topics Covered in the Report

  • Snapshot of Ethnic Foods Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Ethnic Foods Market
  • Historic Growth of the Overall Ethnic Foods Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of the Ethnic Foods Market Industry
  • Overview, Cuisine Type Offerings, and Strengths & Weaknesses of Key Competitors
  • COVID-19 Impact on the Overall Ethnic Foods Market
  • Future Market Forecast and Growth Rates of the Total Ethnic Foods Market and by Segments
  • Market Size of Application with Historical CAGR and Future Forecasts
  • Analysis of the Ethnic Foods Market in Global Regions
  • Major Cuisine Type/Supply and Consumption/Demand Hubs in the Region
  • Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within the Region

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Notable Key Players Mentioned in the Report

  • Ajinomoto Co. Inc.
  • Taco Bell
  • ARYZTA AG
  • Asli Fine Foods
  • McCormick & Company Inc.
  • General Mills
  • MTR Foods
  • Wanis International Food
  • Santa Maria UK Ltd
  • Nestle

Notable Emerging Companies Mentioned in the Report

  • Sach Foods
  • Omsom
  • Fly By Jing
  • Immi
  •  Sanzo

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Ethnic Foods Manufacturers and Providers
  • Ethnic Foods Distributors
  • Ethnic Foods Organizations, Forums, Alliances, And Associations
  • Government Ministries and Departments of Food Industry
  • Government Regulatory and Research Organizations
  • Raw Material Suppliers for Ethnic Food
  • Food Packaging Equipment Companies
  • Food Transport Solutions Providers

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022E-2028F

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Ethnic Foods Market

Thursday, November 3, 2022

3 Key Insights on Competitive Landscape in the Global Ethnic Foods Market: Ken Research

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Country-Niche Players Dominate the Market Holding ~65% Share Despite the Presence of about ~1,000 Competitors Comprising a Significant Number of Regional Players and Global Players, finds a recent market study on the Global Ethnic Foods Market

Food that is specific to a particular region or community is referred to as "ethnic food." Individuals who are not members of the respective ethnic communities view ethnic foods as cuisines derived from those communities' histories and cultures. Chinese food, Mexican food, Italian food, etc. are just a few examples of diverse cultural cuisines that are recognized as ethnic and different from western style cuisine.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

Global Players Constitute ~10% of the Total Number of Competitors, While Country-Niche Players Dominate Representing ~65% of Total Competitors.

Competitive Analysis by the Ken Research Study found that the Global Ethnic Foods Market is highly competitive with ~1,000 players which include globally diversified players, regional players as well as a large number of country-niche players having their own niche in the Ethnic Foods. The country-niche players comprise about ~65% in terms of the number of companies, followed by regional players accounting for ~25% in terms of the number of companies.

To address the growing demand for a variety of cuisines from customers, key players are emphasizing on R&D and launching new products with various types of ethnic food cuisines. In addition, major firms are investing in the production of ethnic cuisines with high nutritional value due to the increasing popularity of healthy lifestyles and are also expanding their existing presence on various e-commerce stores or developing new distribution channels through their own websites.

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Global Ethnic Foods IndustryLeading Worldwide Specialists' Ongoing Efforts To Provide Ethnic Foods To A Variety Of Applications Like Restaurants And Household Is Likely To Boost The Market.

Detailed comparative analysis of key competitors available within the Research Study shows that specialist players like Taco Bell, ARYZTA AG, Asli Fine Foods, MTR Foods, Wanis International Food, and Santa Maria UK Ltd. are strongly focused on providing Ethnic Foods. The market is competitive, and in order to gain a competitive edge, the leading competitors are engaging in a variety of strategic operations like mergers and acquisitions, collaborations, and product releases.

  • In October 2020, Goya Foods, the largest Hispanic-owned food company in USA, announced an investment of US$80 million in an expansion of its manufacturing and distribution facility in Brookshire, Texas.
  • In September 2020, Orkla and Eastern Condiments Private Limited ("Eastern") announced that Orkla acquired 67.8% of Eastern's shares.

Global Ethnic Foods IndustryGovernmental Efforts to Encourage the Expansion of the Global Ethnic Foods Market

  • In September 2021, the Ministry of Agriculture and Farmers Welfare in India stated that the government has placed a strong emphasis on reintroducing traditional food items such as millet, other nutritious cereals, fruits and vegetables, fish, dairy, and organic products in the diet of the population.

In October 2022, the Japanese government encouraged local food businesses and producers to collaborate more closely with local authorities and fundamental regional sustainability plans in order for the national green food system strategy to meet its 2030 and 2050 targets.

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Key Topics Covered in the Report

  • Snapshot of Ethnic Foods Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Ethnic Foods Market
  • Historic Growth of the Overall Ethnic Foods Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of the Ethnic Foods Market Industry
  • Overview, Cuisine Type Offerings, and Strengths & Weaknesses of Key Competitors
  • COVID-19 Impact on the Overall Ethnic Foods Market
  • Future Market Forecast and Growth Rates of the Total Ethnic Foods Market and by Segments
  • Market Size of Application with Historical CAGR and Future Forecasts
  • Analysis of the Ethnic Foods Market in Global Regions
  • Major Cuisine Type/Supply and Consumption/Demand Hubs in the Region
  • Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within the Region

Notable Key Players Mentioned in the Report

  • Ajinomoto Co. Inc.
  • Taco Bell
  • ARYZTA AG
  • Asli Fine Foods
  • McCormick & Company Inc.
  • General Mills
  • MTR Foods
  • Wanis International Food
  • Santa Maria UK Ltd
  • Nestle

Notable Emerging Companies Mentioned in the Report

  • Sach Foods
  • Omsom
  • Fly By Jing
  • Immi
  •  Sanzo

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Ethnic Foods Manufacturers and Providers
  • Ethnic Foods Distributors
  • Ethnic Foods Organizations, Forums, Alliances, And Associations
  • Government Ministries and Departments of Food Industry
  • Government Regulatory and Research Organizations
  • Raw Material Suppliers for Ethnic Food
  • Food Packaging Equipment Companies
  • Food Transport Solutions Providers

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022E-2028F

For More Information on the Research Report, refer to below links: –

Global Ethnic Foods Market: Ken Research

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