Industry Analysis & Industry Trends
The Ethnic Supermarkets industry is composed of retailers that sell culturally diverse food for consumption at home. Demand for the industry's products has been driven by the growing Hispanic and Asian populations in the United States, which together make up a significant share of industry sales. This growth has created an environment in which ethnocentric food retailers have thrived. Fortunately for ethnic supermarkets, conditions are only expected to get better for the industry over the next five years. As the Asian and Hispanic populations continue to grow domestically and disposable income improves in line with the economy, demand for cultural foods will increase further.... purchase to read more
Industry Report - Industry Analysis Chapter
The Ethnic Supermarkets industry is composed of companies that sell foods geared toward ethnically diverse populations. The largest market segments are Hispanics and Asians; industry growth is strongly supported by the quickly expanding populations of these two ethnic groups in the United States. According to the most recent US Census, the Hispanic population in the United States has grown 43.0% in the past decade, while the Asian population has grown 43.3%. As the industry's consumer base grows, so does its revenue. In the five years to 2014, IBISWorld expects industry revenue to increase at an average annual rate of 1.8% to $28.6 billion.
Not only has the United States' ethnic population grown, but its spending habits also create a favorable environment for grocers... purchase to read more