Gourmet Food Market Size, Share, Growth Insights and Forecast 2024-2031

Gourmet Food Market Size

The Global Gourmet Food Market reached US$ 27.93 billion in 2023 and is projected to witness lucrative growth, reaching US$ 48.38 billion by 2031. The market is growing at a CAGR of 7.11% during the forecast period (2024-2031).

The global gourmet food market is experiencing dynamic growth driven by evolving consumer preferences, technological advancements, and the premiumization of food products. Increasing demand for high-quality, unique, and artisanal offerings is reshaping the market, with consumers willing to pay a premium for authentic and luxurious culinary experiences.

Health-conscious trends have also influenced the market, with gourmet foods incorporating functional ingredients, organic certifications, and plant-based alternatives. Regional and ethnic flavors are gaining traction, as globalization exposes consumers to diverse cuisines, boosting the market for specialty items like Japanese wagyu, French truffles, and Italian balsamic vinegars.

The market is also shifting towards convenience, with ready-to-eat gourmet meals and meal kits becoming popular among busy consumers. Sustainability has become a crucial factor, as eco-conscious buyers prioritize brands committed to ethical sourcing, minimal packaging, and environmentally friendly practices. E-commerce has expanded market accessibility, allowing consumers to explore and purchase gourmet products through digital platforms and subscription services.

Additionally, fusion cuisine and experiential dining are transforming the market, blending global flavors and offering immersive food experiences. Emerging economies, fueled by rising affluence and urbanization, present new growth opportunities, making the global gourmet food market increasingly diverse and innovative.

Market Scope

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Market Dynamics

Evolving Tastes and Preferences

Consumers are gravitating towards authentic, handcrafted, and locally sourced gourmet foods, which cater to their desire for high-quality, culturally rich food experiences. This trend is expanding the gourmet food market by increasing demand for artisanal cheeses, handcrafted chocolates, and small-batch, organic foods. With the rise of global food culture, there is a growing interest in exotic ingredients and unique flavors. Consumers' desire to explore international cuisines is boosting the gourmet food market, with products such as ethnic spices, premium oils, and gourmet condiments seeing increased popularity. 

As consumers become more health-conscious, there is a growing demand for gourmet food products that offer healthier alternatives without compromising on taste. This includes organic, gluten-free, and low-sugar options, which are significantly impacting the gourmet food market by appealing to health-focused segments. As busy lifestyles continue to shape consumer behavior, there is an increasing preference for convenient gourmet products that require minimal preparation. Ready-to-eat gourmet meals and high-quality snack foods are growing segments in the gourmet food market, appealing to those seeking premium convenience.

Lack of Awareness Regarding Gourmet Food Options

Many consumers are unfamiliar with gourmet food products and the unique benefits they offer. As a result, there is a smaller customer base that actively seeks out these premium offerings. This lack of awareness reduces the overall market demand, especially among individuals who may be unaware of the variety and quality of gourmet foods available in the market. In emerging markets where culinary habits may not have traditionally included gourmet items, the lack of awareness and education about these products can slow adoption. Without proper knowledge of the flavors, sourcing, and benefits of gourmet foods, consumers in these regions are less likely to engage with the gourmet food market.

Gourmet foods are often associated with higher price points. Consumers who are not well-versed in the value of premium ingredients may perceive them as unnecessary or overpriced, which limits their willingness to purchase. The gourmet food market could expand further if there were greater awareness about the value and unique qualities of these products. While many brands in the gourmet food market are working to raise awareness, the lack of a broad consumer understanding can make it challenging to allocate resources effectively in terms of marketing strategies and distribution. Companies may find it difficult to convince retailers to stock a wide variety of gourmet products when there is limited consumer demand due to low awareness.

Market Segment Analysis

The global gourmet food market is segmented based on product type, distribution channel, end-user, and region.

Increasing Demand For High-Quality, Indulgent Dairy Products

The dairy and frozen desserts segment is expected to hold the largest share of the global gourmet food market. The increasing demand for high-quality, indulgent dairy products such as artisan cheeses, gourmet ice creams, and specialty yogurts is fueling growth in the gourmet food market. Consumers are increasingly willing to invest in premium dairy options that offer superior taste, texture, and unique flavor profiles, contributing to the dominance of this segment.

As the gourmet food market continues to evolve, there is a growing emphasis on health-conscious consumers seeking dairy products with natural, organic, or functional ingredients. This trend is boosting the popularity of gourmet dairy products like lactose-free, probiotic, and low-fat options, which are expected to play a significant role in the expansion of this segment. Both dairy and frozen dessert categories in the global gourmet food market are highly innovative, with brands offering unique flavor combinations, textures, and experiences. Customization, such as artisanal ice creams with exotic ingredients, and the availability of small-batch, craft dairy products, appeal to discerning customers, allowing this segment to dominate the market.

Market Geographical Share

The strong presence of major players and increased awareness about the use of eco-friendly products

The growing demand for Gourmet Food in developing countries, especially in Asia-Pacific, creates opportunities for manufacturers to expand their operations in these regions. The region has many manufacturers and suppliers, and its strong economic growth has increased industrial production, boosting the demand for Gourmet Food. Government initiatives to promote eco-friendly and biodegradable Gourmet Food also drive market growth. The region's rapidly growing population and urbanization, leading to increased demand for water treatment and personal care products, is also a factor. Growing awareness about the benefits in various industries contributes to the market's growth in the region. Furthermore, the above-stated factors depict Asia-Pacific's dominance in the market.

Major Global Players

The major global players in the market include Mondelēz International, Inc., General Mills Inc., Unilever PLC, Mars Inc., Associated British Foods plc, Nestlé S.A., Kraft Heinz Company, Danone S.A., Ferrero Group, and Kerry Group.

By Product Type

• Dairy and Frozen Desserts
  • Premium Cheeses
  • Gourmet Ice Creams
  • Artisanal Yogurts
  • Others
• Bakery and Confectionery
  • Artisanal Bread
  • Luxury Chocolates
  • Handcrafted Pastries
  • Others
• Snacks and Savories
  • Gourmet Chips
  • Nuts
  • Trail Mixes
  • Others
• Others

By Distribution Channel

• Specialty Stores
• Supermarkets and Hypermarkets
• Online Platforms
• Others

By End-User

• Residential
• Commercial

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On August 23, 2023, Yo! China launched an e-commerce platform called Dreamcanteen. The online venture will offer a wide range of gourmet food and ingredients in the Delhi-NCR region. This venture is a natural extension of our expertise in the food industry and logistics. The deep understanding of the market and ability to ensure safe, timely delivery made launching this online gourmet marketplace a seamless decision.
• On November 30, 2020, With Neutrol MGDA, BASF introduced a very stable, environmentally friendly complexing agent (also known as a chelating agent) for personal care products. It stands out because of its superior ecological and toxicological characteristics and is easily biodegradable. To neutralize the metal ions' unfavorable effects on the final formulation, complexing agents are utilized in cosmetic goods to create stable complexes.
• On June 18, 2019, The completion of a multimillion-dollar reliability and capacity investment in nitrilotriacetic acid production at Ascend Performance Materials' Chocolate Bayou facility in Alvin, Texas, was announced. Ascend Performance Materials is a leading global supplier of high-quality chemicals, fibers, and plastics. The investment led to a more than 10% rise in FlexaTrac-NTA manufacturing, the company's biodegradable chelate.

Why Purchase the Report?

• To visualize the global gourmet food market segmentation based on product type, distribution channel, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of gourmet food market-level with all segments.
• PDF report consisting of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Application mapping available as Excel consisting of key Applications of all the major market players.

The global gourmet food market report would provide approximately 62 tables, 53 figures, and 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies