The fine food market in Asia is expected to grow at a CAGR of 8.5% from 2022 to 2028, reaching a value of USD 275.7 billion by 2028.
The growth of the fine food market in Asia is being driven by a number of factors, including:
- Increasing disposable income: The growing disposable income of consumers in Asia is leading to an increase in demand for premium and high-quality food products.
- Rising urbanisation: The growing urbanisation in Asia is leading to a change in lifestyle, with consumers spending more time working and less time cooking.
- Growing tourism: The growing tourism industry in Asia is also contributing to the growth of the fine food market, as tourists are looking for authentic and high-quality food experiences.
- Changing consumer preferences: Consumers in Asia are becoming more health conscious and are demanding healthier food options. This is leading to the growth of the organic and vegan fine food market.
- E-commerce: The growth of e-commerce in Asia is making it easier for consumers to purchase fine food products online. This is expected to further drive the growth of the market in the coming years.