NewswireToday - /newswire/ -
London, United Kingdom, 2007/10/01 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which finds that Europe has developed a taste for a variety of ethnic cuisines.
“The European Ethnic Foods Market” finds that Europeans have become more adventurous when it comes to eating ethnic foods, and are experimenting with several different types of food.
In 2006, the Ethnic Food retail market in Europe was worth EUR 4.12 billion. The UK has the largest and most developed market, with sales worth over EUR 2.34 billion. In fact, the UK, France and Germany together account for over 80% of total sales. It notes that countries like Spain and Ireland have much smaller markets, but that sales are on an upward spiral.
Authors of the report attribute this openness to new cuisines as a result of consumers travelling more and so being more well-informed about cuisines across the world. They also suggest that consumers demand authentic ethnic cuisines they have samples on their trips once they are back at home.
Ethnic foods are not making inroads into the meal market alone, they’re also influencing the snacking market with sales of ethnic snacks registering high growth levels. On the other hand, in developed markets such as the UK, sectors such as frozen ready meals and cooking sauces appear to be reaching maturity.
The study says that Chinese and Oriental food category is the largest in Europe claiming a 42% share. This stems from two important facts; these cuisines are widely available across Western Europe; there’s been a recent increase in the demand for Thai and Japanese foods. The report also features Indian, Mexican/American, Middle Eastern and North African cuisines. It predicts that the ethnic foods category will continue to expand to include other cuisines, citing the example of Polish migrant workers in Ireland pushing up the demand for authentic food from their country.
The report contains a SWOT analysis for the ethnic foods market, and suggestions for possible routes to market entry for the continental nations. The industry’s main suppliers are profiled as also the new products and their activity.
“The European Ethnic Foods Market” is available from Report Buyer. For more information, please visit the website.
Report Buyer product ID: LFR00002
About Report Buyer
Report Buyer is a UK-based independent online store supplying business information on major industry sectors. These include the Automotive Industry, Banking & Finance, Energy & Utilities, Food & Drink, Telecoms and Pharma & Healthcare. The website now carries over 40,000 business information products, including market reports, studies and books. Report Buyer is the intelligent way to buy market research making it an essential resource for executives and information buyers worldwide. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. A regularly updated blog provides information on the latest market trends.