Asian Food Market: Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021
Asian foods comprise Thai, Chinese, and Indian foods. Asia food has marked its presence in the fast food segment in Western countries. It is also considered to be more nutritious than conventional fast foods such as pizza, burgers, pasta, taco, burritos, and sandwiches. The Asian food market is extremely fragmented worldwide and many small players operate as exclusive restaurants or as chained restaurants. Asian foods have marked their presence around the globe in a very short time owing to their acceptance by people who taste lovers and opt for such foods.
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The Asian food market around the world is anticipated to witness a considerable growth in the near future. People opt for exotic ethnic food owing to its superior taste and affordable prices. One of the major factors driving the growth of Asian food market includes constantly changing food habits in various region of the world. These factors may vary from region to region; however, rising disposable income and growing culture of eating non-home-made food as a change are other factors impacting the demand for Asian food in emerging countries in a positive way. Western countries are inclined towards variety and novel taste. Thus, quick service and full-service restaurants have been established which include Asian food in their main stream menu in order to fulfill the growing demand for Asian food. On the other hand, improper advertising and distribution channel as the market involves a great number of small players in the competition may hamper the growth of the global Asian food market.
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On the basis of product type, the global Asian food market is segmented as oriental styles, Japanese, Chinese, Korean, Indonesian, Thai, and Indian. Geographically, the global market is further segmented as Asia-Pacific, Europe, North America, and Rest of the World (RoW).
North America is anticipated to witness high demand for Asian food owing to a considerable increase in the consumption of Asian food in this region. In addition, there is a high demand for spicy food with various sauces in Europe as well. This in turn also impacts the growth of the market in Europe in a positive way. Europe is expected to be the largest market for Asian food in the near future.
Some of the key players dominating the global Asian food market are Pei Wei Asian Diner, Panda Express, and Moods Hospitality Pvt. Ltd. Other key players influencing the global market are Inns’ Bruck and Eurofood Group Plc.
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Asian Food Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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