Ethnic Foods Market - Forecasts from 2023 to 2028

The global ethnic food market is expected to grow at a CAGR of 9.93% from a market size of US$45.775 billion in 2021 to reach US$88.822 billion in 2028.

Ethnic foods and meals are described as dishes that come from an ethnic group's tradition and culture and that use their knowledge of local plant or animal sources. A few examples of ethnic meals are Maori food from New Zealand, Napoli from Italy, Chinese, Mexican and Masai food from Kenya.

There are several meals nowadays that feature fresh, fascinating ethnic dishes. Foods like sushi, tahini, hummus, tortillas, and many more are already well-known to consumers. A trend in Google searches indicates a preference for Hispanic and Asian cuisine. Ramen and empanada searches on Google are among the most popular ones. Many customers today think that ethnic cuisines are healthier since they are flavorful and made with fresh ingredients. Since ethnic food is different from the kind of meals people often eat, they view it as being more distinctive, premium, delicious, and intriguing which is driving the growth of the global market. The National Restaurant Association research found that 4 out of 5 customers regularly eat ethnic food, demonstrating how ethnic foods have assimilated into the daily diets of consumers. In addition, the rising immigrant population and flourishing tourism sector are also propelling the demand for ethnic food globally.

The rising millennial population is also spurring the growth of the ethnic foods market as they are more open and adventurous to new culinary experiences. Millennials claim that they discover ethnic cuisine through social media, travelling, food-related websites, blogs and dining out. Some Americans visit food trucks to learn more about different ethnic cuisines. This gives companies the chance to use influencers, social media, and events to publicise their products. Consumers are increasingly receptive to new, rich experiences and have more experimental palates.

The growing demand for ethnic flavours in the food and beverage industry is boosting demand for ethnic foods.

Ethnic foods have become increasingly popular in various parts of the world especially in countries such as the United Kingdom, Canada and the United States with a high number of immigrant population and tourists. Two of the most popular new ethnic cuisines are Korean and African, demonstrating the importance of cultural curiosity in the testing and acceptance of food. Italian, Japanese, Greek, and Polynesian cuisines advocate for a more flexitarian diet or a rebalancing of plant- and animal-based items. These lifestyle diets are growing in one direction on menus, indicating that they will continue to affect the demand for ethnic foods in the future.

The popularity of ethnic foods can also be seen in the pre-packed snacks industry. Various key FMCG snack brands are introducing ethnic flavours to their range of snacks to capitalise on this growing trend. According to the latest trend report published by Japanese company T Hasegawa shows that 38 per cent of consumers select snacks as a way to try flavours from ethnic cuisine. 28 per cent of customers would like to try snacks common in other countries such as Latin, Asian, and middle eastern cuisines. 36 per cent of shoppers want to see more ethnic-flavoured products in the grocery store aisles.

North America is anticipated to hold a significant share of the global ethnic foods market during the forecast period.

North American region is anticipated to hold a significant market share in ethnic foods. This region will experience rapid expansion throughout the projection period as a result of growing tourism and immigration pollution. Ethnic foods are in high demand in markets such as the United States and Canada. In the United States, the most popular ethnic cuisine is Mexican. The rising Mexican population and growing interest in Mexican cuisine are propelling demand for Mexican ethnic food. According to the official data 9 per cent of American restaurants serve Mexican cuisine. According to Google Trends data, San Antonio, Texas, is the city with the highest level of admiration for Mexican food, while San Diego and Sacramento, both in California, came in second and third. This region's market is also expanding as a result of the growing millennial pollution and food truck culture. This region's market is expanding due to changing eating habits and rising demand for healthy, ethnic, and exotic flavored food products. In addition, the prevalence of key market players such as McCormick & Company Inc., Associated British Foods PLC, and General Mills Inc also spurs the growth of ethnic foods in this region.

Market Key Developments

• In September 2022, Golden Country Oriental Food L.L.C. and its wholly owned subsidiary Golden Ocean Seafood Inc. have been recapitalized by HKW, a middle-market private equity company focused on growth-oriented businesses. The management team will stay in place, and the Lee family will continue to be a substantial stakeholder in the business. Genuine ethnic food wholesaler Golden Country primarily serves the supermarket, wholesale, and restaurant sectors. The same channels are served by the frozen seafood vendor Golden Ocean.
• In October 2020, Fazila Foods and Lancashire-based Clayton Park Bakery teamed up to create a new line of Asian-inspired street food products. The new line of the product includes onion bhajis, fresh wraps, samosa and curries for UK consumers.

Segmentation:

By Cuisine Type

• Asian
• Italian
• Mexican
• Others

By Food Type

• Vegetarian
• Non-Vegetarian

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Retail Channels
• Other Distribution Channels

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others