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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Leading 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.
Governmental 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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