Marketing Daily reports on a new Mintel study suggesting that “ethnic food sales will reach a record $2.2 billion this year, and advance by another 20% between 2010 and 2014.”
According to the study, Mexican/Hispanic foods have become so popular, with more than a 60 percent share of the ethnic food market, that many people don;t even consider them to be ethnic anymore. The real growth drivers in this category are said to be Indian and Asian foods, “which showed 11% and 35% growth, respectively, between 2006 and 2008,” according to the story.
According to the study, Mexican/Hispanic foods have become so popular, with more than a 60 percent share of the ethnic food market, that many people don;t even consider them to be ethnic anymore. The real growth drivers in this category are said to be Indian and Asian foods, “which showed 11% and 35% growth, respectively, between 2006 and 2008,” according to the story.
- KC's View:
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Not sure if it is a testament to the recession or the popularity of the Food Network, but one surprise in the story is the note that “two-thirds of respondents prefer to cook ethnic meals from scratch.” That certainly sounds like a shift worth paying attention to.
