Strong Ethnic Food Sales

According to a new report from Mintel, sales of ethnic foods in America have steadily risen since 2004 and are predicted to hit a record-high $2.2 billion in 2009, with 20% more growth forecasted from 2010 to 2014.

The largest share of the ethnic-foods market is taken by Mexican and Hispanic foods, with 62% of sales; about 6 in 10 people report that they have cooked Mexican food in the past month. But Asian food is the largest growth sector, with 11% growth from 2006 to 2008. During that time frame, Indian-food sales have grown by 35%.

Income and age are two demographic aspects strongly related to ethnic foods: 92% of those who responded to Mintel’s survey with annual household incomes above $150,000 have cooked ethnic food in the past month, and the same is true for 91% of those aged 18 to 24.

The economy has also likely played a part in this activity. More people are cooking at home and an increasing number of Americans are calling themselves “cooking enthusiasts.” This creates a market primed for ethnic-inspired speed-scratch food products, like seasoning blends and sauces.

Sources:

* Mintel: Americans Dish on Ethnic Fare