Overview and Scope
Ethnic food refers to a food that is eaten outside the geographical area of its origin. The term ethnic food refers to food that is unique to a certain region or community. Non-dominant culture cuisines such as Indian, Korean, Italian, Peruvian, Moroccan, Mexican, Brazilian, Argentina, or Chinese cuisines are all regarded as ethnic and distinct from standard western cuisine.
Sizing and Forecast
The ethnic food market size has grown rapidly in recent years. It will grow from $52.35 billion in 2023 to $57.62 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to cultural diversity and migration, urbanization and lifestyle changes, social media and food trends, restaurant and street food culture, health and wellness awareness, culinary education and exposure.
The ethnic food market size is expected to see rapid growth in the next few years. It will grow to $87.12 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to culinary fusion and innovation, health-conscious ethnic options, e-commerce and meal kits, sustainable and locally sourced ingredients, authenticity and cultural representation. Major trends in the forecast period include digital platforms and food discovery, authenticity and regional varieties, plant-based and vegetarian options, online food delivery and takeout, fusion cuisine.
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Segmentation & Regional Insights
The ethnic food market covered in this report is segmented –
1) By Food Type: Veg, Non-Veg
2) By Culture: American, Chinese, Japanese, Mexican, Italian, Other Cultures
3) By Distribution: Supermarkets/Hypermarkets, Convenience Stores, Online Retail Channels, Other Distribution Channels
4) By Application: Restaurant, Household
Asia-Pacific was the largest region in the ethnic food market in 2023. The regions covered in the ethnic food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing immigration rates is the key factor driving the growth of the ethnic food market. Immigration is increasing because of several reasons such as employment opportunities, environmental factors, educational purposes, reuniting with family, or escaping a violent conflict. The immigrants prefer the food of their homeland and that increases the demand for ethnic food. For instance, according to the World Migration Report 2022 published by the International Organization for Migration (IOM), a Switzerland-based United Nations agency that provides services and advice concerning migration to governments and migrants, there are nearly 281 million international migrants globally in 2020, representing 3.6% of the world’s population an increase from 272 million in 2019 (or 3.5%), representing 3.5% of the world’s population. The United States is the most popular destination for migrants; however, the United Arab Emirates has the greatest migrant population as a percentage of its population. Additionally, in July 2021, according to the United States Census Bureau report, a US-based agency for producing data regarding the American people and economy, between 2020 and 2021, net international migration (NIM) increased the country’s population by 247,000 in the US. This increased number of immigrants prefers eating the food of their country very often, which will invariably increase the demand for ethnic food. Hence, the growing immigration rates are expected to drive the ethnic food market.
Key Industry Players
Major companies operating in the ethnic food market report are Nestlé S.A., Associated British Foods plc, General Mills Inc., Taco Bell Corp., Conagra Brands Inc., Ajinomoto Co. Inc., ITC Limited, McCormick & Company Incorporated, MTR Foods Pvt Ltd, Kikkoman Corporation, House Foods Group Inc., Aryzta AG, B&G Foods Holdings Corp., Haldiram Manufacturing Co. Pvt. Ltd., Goya Foods Inc., GraceKennedy Group, S&B Foods Inc., Amy’s Kitchen Inc., Santa Maria AB, East End Foods plc, Surya Foods Ltd., Leathams Limited, Kawan Food Manufacturing Sdn Bhd, Tasty Bite Eatables Ltd., Tilda Limited, TRS Foods Ltd., Natco Foods Ltd., Wanis International Foods Limited, Frontera Foods Inc., Asli Fine Foods Limited
The ethnic food market report table of contents includes:
1. Executive Summary
2. Ethnic Food Market Characteristics
3. Ethnic Food Market Trends And Strategies
4. Ethnic Food Market – Macro Economic Scenario
5. Global Ethnic Food Market Size and Growth
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32. Global Ethnic Food Market Competitive Benchmarking
33. Global Ethnic Food Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Ethnic Food Market
35. Ethnic Food Market Future Outlook and Potential Analysis
36. Appendix
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