Global Asian food market to see 'considerable growth' in the future, research suggests
Research show that Asian food may be the next big thing.
According to data published by Zion Market Research, the Asian food market is set for growth driven by the constantly changing food habits in various regions of the world.
These factors may vary from region to region, the research showed. 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.
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.
