Research and Markets (http://www.researchandmarkets.com/research/2x7gzg/ethnic_foods) has announced the addition of the "Ethnic Foods Market Report 2012" report to their offering.
This Key Note Market Report Update examines the ethnic foods market in the UK. In recent years, the industry has benefitted from the economic crisis and grew by 9% in 2011 alone. As consumers can no longer afford to dine out, they are seeking to add excitement to the mealtime occasion at home by trying different foods. Ethnic foods are in a prime position to profit from this trend as they offer an extensive variety of meal choices, with manufacturers regularly investing in further developing the market.
The report divides the ethnic foods market into two principle categories: ethnic foods; and rice. The ethnic foods sector is further separated according to type of cuisine. Indian food is the largest sector, followed by Chinese, and these two contain within them some of the UK's favourite dishes. In 2011, chicken stir-fry overtook tikka masasla to become the nation's preferred dish, however, other foods are also driving growth in the ethnic foods industry.
Mexican/Tex-Mex, Thai and Caribbean are the most up-and-coming ethnic foods in the UK; these are experiencing double-digit growth year-on-year as a result of a growing sense of adventure among consumers when it comes to food. The fastest growing category in the market is, however, the other ethnic foods sector. The diversity of the sector has contributed to this growth, in addition to growing interest among consumers in ethnic foods other than Indian and Chinese.
Innovation within the industry has primarily centred around meal kits, as consumers are leading increasingly busy lives, meaning that they have less time to create meals from scratch at home. This trend has created demand for convenient mealtime solutions that are simple, quick and hassle-free to prepare.
Ethnic foods manufacturers have responded by introducing meal kits that consist of wraps, a sauce and a seasoning mix; consumers then add a meat protein and/or vegetables. This provides them with some flexibility and makes the meals more versatile, while still offering convenience. In the rice market, value-added products are driving sales; pouches are becoming very popular.
Key Note predicts that the ethnic foods industry will continue to grow in the future. This will be due to continued demand for ethnic foods, as consumers become increasingly bold with their meal choices. Manufacturers will maintain consumer demand by introducing innovative and alternative dishes; greater format variety will be available, with an influx of on-the-go and single portion formats, in addition to family-sized meals. As a result, the ethnic foods industry is estimated to rise by 45.1% between 2012 and 2016.
- Associated British Foods Plc
- Discovery Foods Ltd
- Premier Foods Plc
- Tilda Ltd
- Unilever Plc
- Wrigley Co Ltd (The)
For more information visit http://www.researchandmarkets.com/research/2x7gzg/ethnic_foods
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