Ethnic Foods Market Size to Grow by USD 22.02 billion, Offline to be Largest Revenue-generating Distribution Channel Segment – Technavio – QNT Press Release

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NEW YORK, Oct. 3, 2022 /PRNewswire/ — According to the report “Ethnic Foods Market by Distribution Channel and Geography – Forecast and Analysis 2022-2026″, the market will witness a YOY growth of 8.78% in 2022 and a CAGR of 10.15% during the forecast period. The market is segmented by distribution channel (offline and online) and geography (APAC, North America, Europethe Middle East and Africaand South America).

Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format

By distribution channel, the offline segment will be the largest contributor to market growth during the forecast period. With the rise in disposable incomes rise and rapid urbanization, consumers are shifting from small convenience stores to supermarkets and hypermarkets.

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APAC will provide maximum growth opportunities in the ethnic foods market during the forecast period. According to our research, the region will contribute 40% of the global market growth. China and Japan are the two major countries in the ethnic foods market in APAC. The growth of the market in the region is attributed to factors such as the expansion of food retail businesses in emerging economies.

The ethnic foods market is fragmentedand the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• AJINOMOTO FOODS NORTH AMERICA INC.
• Aryzta AG
• Asli Fine Foods
• Associated British Foods Plc
• B and G Foods Inc.
• Beyond Meat Inc.
• Conagra Brands Inc.
• General Mills Inc.
• McCormick and Co. Inc.
• Mizkan Holdings Co. Ltd.
• Nestle SA
• Orkla ASA
• Pataks
• Paulig
• Surya Foods Online
• Tasty Bite Eatables Ltd.
• The Giggly Pig Co.
• The Spice Tailor Ltd.
• TRS Group UK Ltd.
• YUM Brands Inc.

View our FREE PDF Sample Report to find additional highlights on the growth strategies adopted by vendors and their product offerings

The increasing popularity of Italian cuisine is driving the ethnic foods market growth. The popularity of Italian dishes such as pasta and pizza is increasing among consumers. Moreover, some consumers make these dishes at home, which is increasing the sales of Italian sauces. These factors, in turn, will propel the growth of the market during the forecast period.

The fluctuating price of raw materials is challenging the ethnic foods market growth. Some of these raw materials include spices, herbs, olive oil, and other ingredients. The average global price of garlic increased in 2020 when compared to 2019. Similarly, the price of olive oil rose by 67.3% in 2021 when compared to 2020. Thus, fluctuating prices of raw materials are expected to influence the growth of the global ethnic foods market negatively during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report

Don’t miss out on the opportunity to speak to our analyst and know more insights about this market report. Technavio can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

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