Ethnic Foods Market - Growth, Trends and Forecasts (2019 - 2024)

Ethnic Foods Market Insights

The global ethnic foods market is expected to grow at a CAGR of 5.1% during the forecasted period (2018-2023). Eating healthy food products which matches the tastes and preference are the main factors for growing demand of ethnic foods among the consumers. In the developing countries, due to the increasing consumer knowledge, consumers are expecting those ethnic food products that benefit their overall health and have high natural nutrition value (which are prepared without any additives). Rise in consumption for “good for health” foods is driving the demand for ethnic foods market in the world, distributed through both food service or in the ready-to-eat foods or online food servicing applications.

With the increasing movement of world population for the purpose of employment, education and tourism from one country to another, the demand for ethnic food is increasing.

Ethnic Foods Market Dynamics

The global ethnic cuisine market can be attributed to the increasing migration of world population, which in turn is increasing the preference for ethnic cuisines in the restaurants. With the increasing movement of world population for the professional or personal purpose from one country to another, the demand for ethnic food is bound to increase. The ethnic food segment gives the customer a viable option to eat their own country specific food, while living in other country. They also provide the customer the choice to eat food from other cultures/countries while sitting in their home country.

The Italian, Mexican and Chinese cuisines are the most preferred ethnic based cuisines in world. These cuisines are demanded and preferred by majority of the global population, thus increasing their market base. In the developing countries like India, the cross-culture cuisines like the Chinese and Italian cuisines are highly preferred by the all the segment of population, thus increasing their market shares. Restaurant chains who are serving the ethnic foods are increasingly diversifying their food service facility by preparing different types of ethnic cuisines, due to the development and innovation of taste among people.

Ethnic Foods Market – Regional Analysis

The global ethnic foods market is segmented on the basis of four main geographies of the world such as North America, Europe, Asia-Pacific, and rest of the world. The market is primarily dominated by the American, Italian, Chinese and Japanese cuisines. The African, Indonesian, Indian ethnic cuisines are slowly setting their footprints in the global ethnic food industry.

The popularity of the international cuisines are also increasing among the population due to the increasing awareness spread by the food services through online and offline advertisement, distribution of brochures, discounts. In the recent years, there has been an increase in the organization of the international food festivals in countries like the US, France, India, and others, where cuisines of all around the world are displayed, which can be tasted by the public in large; it is thus increasing their knowledge and word-of-mouth of different cuisines available around the world.

The rising young population, along with a fast-paced trend of eating out and experimenting various interstate and inter country food trend on a frequent basis has provided the plethora of growth opportunities for ethnic food services operation in Asia-Pacific region. The increasing use of social media among the Indians and other developing countries, are sharing their culinary experiences – urging consumers to try new food options and outlets, based on the reviews shared. Exploring the new culinary experience for both global and authentic regional cuisines are on the rise among consumers in Asian-Pacific. The road side shops and tiffin services across India are also offering both Indian and global ethnic cuisines, primarily Italian and Chinese, which can be afforded by the every segment of Indian population.

Ethnic Foods Market Key Developments

September 2017, Japanese spice maker Ajinomoto Co. expanded its presence in the US, having struck a deal to acquire ethnic food maker Windsor Quality Holdings for around USD 800 Milliom. Windsor brands include Tai Pei, Ling Ling, Jose Ole, Bernarido and Fred's. By using Windsor's strong distribution network, Ajinomoto Co. planned to increase sales of Gyoza [potstickers], noodle and rice products that are specialties to the company, in the US retail channels and to strengthen its sales platform in foodservice channels.

Ethnic Foods Market Competitive Landscape

Some of the leading manufacturers and suppliers of the ethnic foods in the global scenario are Ajinomoto Foods, Associated British Foods PLC and Tasty Bite. These companies are focusing on expansion of facilities and product portfolio due to the growing demand for ethnic foods in its application industry. Consumers are now more aware of the positive effects of naturally or freshly prepared food, which is likely to create more opportunities in the market in the future. Companies are actively involved in developing innovative products, so as to enhance their product quality and increasing health benefits of the public in general. The popularity of international and regional food service brands and adoption of taste & preference of a particular country by the players are expected to help the market grow at a continuous pace.

Major players: Ajinomoto Foods, Aryzta AG, Associated British Foods PLC, MTR Foods, Natco Foods, Santa Maria UK Ltd, Wanis International Food, Asli Fine Foods, TRS Ltd., Tasty Bites and among others

Reasons to Purchase the Ethnic Foods Market Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come.
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players.
• 3 months analyst supports along with the Market Estimates sheet in excel.

Customization of the Ethnic Foods Market Report

• Value chain analysis
• Consumer behavior analysis in country level

This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.