Asian Food Market Size, Share, Growth Report 2032

Asian Food Market: Overview     

The Global Asian Food market accounted for USD 139.5 Billion in 2020 and is expected to reach USD 231 Billion by 2028, growing at a CAGR of around 7.2% between 2021 and 2028.    

Asian foods comprise Thai, Chinese, and Indian foods. Asia food has marked its presence within the nutriment segment in Western countries. it's also considered to be more nutritious than conventional fast foods like pizza, burgers, pasta, taco, burritos, and sandwiches. The Asian foodstuff is extremely fragmented worldwide and lots of small players operate as exclusive restaurants or as chained restaurants. Asian foods have marked their presence around the globe during a very short time due to their acceptance by people that taste lovers and choose such foods.

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The Asian foodstuff around the world is anticipated to witness substantial growth within the near future. People choose exotic ethnic food due to its superior taste and affordable prices. one of the main factors driving the expansion of Asian foodstuff includes constantly changing food habits in various regions of the planet. These factors may vary from region to region; however, rising 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 tastes. Thus, quick service and full-service restaurants are established which include Asian food in their mainstream menu to satisfy the growing demand for Asian food. On the opposite hand, improper advertising and channel because the market involves an excellent number of small players within the competition may hamper the expansion of the worldwide Asian foodstuff. In addition, various mergers and acquisitions by major players will also have a towering impact on the Asian Food market in the years to come.

COVID-19 Impact Analysis

After the closure of restaurants, hotels, and other food outlet facilities during the arrival of the pandemic, the global Asian Food market has witnessed a decline in sales for the short term owing to the complete lockdown enforcement placed by governments to control COVID spreading. However, later it started for home delivery or take away. This has moderately increased the intake of the ready-to-eat food products, which comes in various ethnicities like Italian, Indian, Chinese among others, which are popularly demanded across the planet, therefore the demand for the foods propelled during the year 2020.

The restrictions imposed by various nations to contain COVID have stopped the production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand for Asian Food. Various scenarios have been analyzed based on inputs from various secondary sources and the current data available about the situation.

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Asian Food Market: Growth Factors

With the growing immigration rates, owing to education, employment opportunities, and increase in tourism activities, the demand for Asian food has been growing. Moreover, with the increasing consumption of nutritious food and rising capital investment in producing healthy, Asian-based food, the market studied is predicted to realize traction over the forecast period. The Asian food manufacturers specialize in the convenience factor, cuisine variants, quality of food, and packaging formats of the products. Opening of the various food outlets across the nation in the fast administration is expected to sight critical growth opportunities during the forecast period.

Global Asian Food Market: Report Scope:

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Product Segment Analysis Preview   

Chinese food has the largest market share in the Asian Food market and is expected to remain dominant throughout the forecast period. Asian foods contain Chinese, Thai, and Indian food. It's become extremely popular in the nutriment segment in western countries because it is believed to be more nutritious than conventional nutriments like burgers, pizza, pasta, burritos, taco, and sandwiches. The market is very fragmented worldwide and lots of small players operate as exclusive restaurants or as chained restaurants.

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Asian Food Market: Regional Analysis Preview   

North America was one more leading area in Asian Food market and is anticipated to show significant development in the coming years owing to a substantial increase in the consumption of Asian food in the region. Additionally, there's a high demand for spicy food with various sauces in Europe also. This successively also impacts the expansion of the market in Europe in a positive way. Europe is predicted to be the most important marketplace for Asian food within the near future.

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Asian Food Market: Key Players & Competitive Landscape

Some of the key players dominating the global Asian food market are

• Pei Wei Asian Diner
• Panda Express
• Moods Hospitality Pvt. Ltd.
• Inns’ Bruck
• and Eurofood Group Plc.

The global Asian Food Market is segmented as follows:

By Product

• Oriental styles
• Japanese
• Chinese
• Korean
• Indonesian
• Thai
• Indian 

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa