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Ethnic Foods Market


The U.S. ethnic foods market is estimated to generate $75 billion in annual sales. It is the equivalent of $1 out of every $7 being spent on groceries. Foodservice accounts for 65 percent of the ethnic food sales and supermarkets have the remaining 35 percent of the market.

 

An ethnic market is a group of consumers that share a common cultural background. Many times an ethnic market has a distinctive geographic area.

 

The U.S. population is older, wealthier, more educated and more ethnically diverse than ever before. The Economic Research Service has identified three general demographic trends expected to shape future U.S. food markets: more diversity, more mature consumers and U.S. population growth.

 

According to USDA projections, the U.S. population is expected to add between 50 and 80 million people by 2020. There will be greater proportions of Latinos, Blacks and Asians. During the next 20 years, the U.S. Latino population is expected to grow by 1.2 million annually. Population increases for non-Latino Whites are estimated at 500,000 annually. Yearly population growth for Blacks and Asians is estimated at 400,000 each.  March 2008. . . Ethnic Foods Market



Links  checked February 2008.

 
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