Ethnic Foods Industry Overview
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Europe |
| Largest Market: | North America |
| CAGR: | 8.33 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ethnic Foods Market Analysis
The Global Ethnic Foods Market was valued at USD 38.73 billion in the current year, and it is projected to reach USD 62.18 billion, registering a CAGR of 8.33% over the next five years.
Post-COVID-19, consumers moderately increased the intake of a variety of ready-to-eat food products, which come from various ethnicities and are popularly demanded across the world, driving the demand for ethnic foods during the current year.
With the growing immigration rates due to employment opportunities, higher education, and tourism, the demand for ethnic food has been increasing, and over the medium term, with the increasing consumption of nutritious food and rising capital investment in producing healthy, ethnic-based food, the market studied is expected to gain traction over the forecast period.
One factor driving ethnic food demand is the availability and accessibility of ethnic food items through specialized ethnic food supermarket chains. Developing countries are experiencing an increase in westernization, which is changing people's tastes and preferences. It is becoming more popular to eat out, and more people are interested in trying intercontinental and exotic foods. Food is becoming more therapeutic as a result of consumers' growing preference for innovative and creative cuisines.
Moreover, ethnic food manufacturers are focusing on the convenience factor, quality of food, cuisine variants, and packaging formats of the products. The ethnic food market continues to diversify as consumers continue to experiment with new global cuisines. Some of the niche ethnic food categories include African, Indian, and Indonesian cuisines that have been growing over the recent past.
Ethnic Foods Industry Segments
Ethnic food refers to a wide variety of packaged foodstuffs that can be identified by the public mind as coming from a foreign source.
The ethnic foods market is segmented by distribution channel into hypermarkets/supermarkets, convenience stores, online stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market sizing and forecasts have been done in value terms (USD million).
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| Convenience Stores | |
| Online Retail Channels | |
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Ethnic Foods Market Trends
This section covers the major market trends shaping the Ethnic Foods Market according to our research experts:
Presence of Asian Cuisine in the US Ethnic Food Marketspace
Consumers’ interest in Asian cuisines, such as Thai, Korean, Vietnamese, and Japanese, is increasing globally, and they seek bold flavors. This trend is driven by the increasing immigrant population, as well as robust demand from native populations.
Over the past decade, more immigrants have moved to the United States and European countries from Asia than any other region globally. For instance, in the United States, immigrants from Asian countries constituted 47% of the total immigrants to the country in 2021. This has fuelled the demand for ethnic foods in the country.
Furthermore, the penetration of Korean, Japanese, Chinese, and Indian cuisines among the native population has been strong over the review period. During the forecast period, the global ethnic food industry is more likely to rely upon the fusion of ethnic blends.
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Increasing Indulgence in Ethnic Food in the Asia-Pacific Region
The growing young population, along with the fast-paced trend of eating and experimenting with various interstate and inter-country food cuisines frequently, has provided many growth opportunities for ethnic food services operations in the Asia-Pacific region.
The increasing use of social media among Indians and people from other developing countries has enabled them to share their culinary experiences, urging consumers to try new food options and outlets based on the reviews shared. Exploring new culinary experiences for global and authentic regional cuisines is rising among consumers in Asia-Pacific. Moreover, manufacturers are striving to satisfy the demand from consumers for new and different food products with more international favorites, added variety, spices, and bold flavors.
Specialty and international food sales are increasing in supermarkets in Asia-Pacific as consumers, especially millennials, are inclined toward ethnic cuisines. Other factors, such as international travel and globalization policies, influence the market positively.
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Ethnic Foods Market Competitor Analysis
The ethnic foods market is competitive, with various small and medium-sized companies. Some major companies in the market include Ajinomoto Co. Inc., McCormick & Company Inc., Associated British Foods PLC, and General Mills Inc.
By developing diversified product portfolios, which include popular cuisines such as Chinese, Italian, Indian, English, French, Mexican, Caribbean, and African, the leading companies are marketing various cuisines to consumers. The top players have also succeeded in providing their products across multiple channels of distribution, particularly supermarkets and hypermarkets, which also happen to hold some of the largest segments in terms of distribution channels in the market studied.
Ethnic Foods Market Top Players
Ajinomoto Co. Inc.
McCormick & Company Inc.
General Mills, Inc.
Associated British Foods PLC
Orkla ASA
*Disclaimer: Major Players sorted in no particular order
Ethnic Foods Market Recent Developments
- February 2022: Patak launched its "Patak’s Makes Perfect" TV advertisement in collaboration with a creative advertising agency, BMB. With this new advertisement, the company aimed to strengthen its market presence in the ethnic foods retail space.
- February 2022: Aryzta, which operates the Cuisine de France brand, acquired the bakery, equipment, and the corresponding land of co-manufacturer De-Luxe Food Services from Envictus International Holdings Limited. This expansion strengthened Aryzta’s relevant position in bakery products in Malaysia.
- January 2022: Paulig, which has two production sites for tortillas, dinner kits, and chips in Belgium (Roeselare) and is currently building a third production facility, acquired the innovative Spain-based company, Liven. With this acquisition, Paulig hoped to expand its Tex-Mex and snacking activities in Europe.
- October 2021: General Mills expanded its Old El Paso range by introducing new flavored taco shells in collaboration with crisp brand Takis in the United States. The company's latest product is inspired by Takis ‘Fuego’ crisp flavor and was named ‘Hot Chili Pepper and Lime-Flavored Stand’N Stuff Taco Shells.’ The product was exclusively available through Walmart stores.
Ethnic Foods Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Distribution Channel
5.1.1 Supermarkets/Hypermarkets
5.1.2 Convenience Stores
5.1.3 Online Retail Channels
5.1.4 Other Distribution Channels
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 Spain
5.2.2.4 France
5.2.2.5 Italy
5.2.2.6 Russia
5.2.2.7 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 Rest of the World
5.2.4.1 South America
5.2.4.2 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Strategies Adopted by Key Players
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Ajinomoto Co. Inc.
6.4.2 McCormick & Company Inc.
6.4.3 Associated British Foods PLC
6.4.4 General Mills Inc. (Old El Paso)
6.4.5 Orkla ASA
6.4.6 ARYZTA AG
6.4.7 Paulig Ltd.
6.4.8 Asli Fine Foods
6.4.9 Capital Foods (Ching's Secret)
6.4.10 Charlie Bigham
6.4.11 The Spice Tailor
6.4.12 Quality Ethnic Foods Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Ethnic Foods Market Research FAQs
What is the study period of this market?
The Ethnic Foods Market is studied from 2018 - 2028.
What is the growth rate of Ethnic Foods Market?
The Ethnic Foods Market is growing at a CAGR of 8.33% over the next 5 years.
Which region has highest growth rate in Ethnic Foods Market?
Europe is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Ethnic Foods Market?
North America holds highest share in 2021.
Who are the key players in Ethnic Foods Market?
Ajinomoto Co. Inc., McCormick & Company Inc., General Mills, Inc., Associated British Foods PLC, Orkla ASA are the major companies operating in Ethnic Foods Market.
Ethnic Foods Industry Reports
In-depth industry statistics and market share insights of the Ethnic Foods sector for 2020, 2021, and 2022. The Ethnic Foods research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Ethnic Foods report PDF.
