Ethnic Food Market size is expected to reach USD 70.8 billion by 2028
Ethnic Food Industry Overview The global ethnic food market size was valued at USD 39.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2028. This can be credited to the rise in popularity of ethnic foods among developed nations. Consumers' growing interest in Asian cuisines globally, for example, Chinese and Japanese, is leading to the rise in demand for ethnic foods. The growing migration of Asian people to developed nations is also propelling the market growth. Furthermore, the rising millennial population which is always in search of exotic experiences is increasingly positive to adopt new ingredients and flavors in their food palate. This is also expected to propel the growth of the market for ethnic food during the coming years. Growing inclination among the millennial population towards experimenting, eating out, and eating inter-country foods on regular basis has been providing a surplus of growth oppor...