USD 39.7 billion
Ethnic Food Market Size, Share, Growth Analysis, By Type(Frozen Products and Dried Products), By Distribution Channel(Offline retail and Online retail), By Consumer Demographics(Age and Gender), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2123 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
84
|Figures:
76
Ethnic Food Market Insights
Global Ethnic Food Market size was valued at USD 39.7 billion in 2022 and is poised to grow from USD 43.19 billion in 2023 to USD 84.81 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).
Ethnic food is a term used to describe the cuisine of a particular cultural or ethnic group. It encompasses a wide range of foods, flavors, and cooking styles from around the world, including Indian, Mexican, Chinese, Italian, and more. These dishes are often characterized by the use of unique spices, herbs, and ingredients that are native to the region. Ethnic food offers a diverse range of flavors and textures that can provide a unique culinary experience for those who are willing to explore different cultures through their cuisine. In the Asia-Pacific region, the ethnic food market is expected to witness significant growth due to the rising demand for traditional and authentic Asian cuisine. Similarly, in North America, the ethnic food market is also growing rapidly due to the increasing trend of multiculturalism and the rising popularity of international cuisines.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Frozen Products
Fastest Growth
Dried Products
Growth Rate
8.8% CAGR
Global Ethnic Food Market ($ Bn)
Country Share for North America Region (%)
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Ethnic Food Market Segmental Analysis
Global Ethnic Food market is segmented by type, distribution channel, consumer demographics, and region. Based on type, the market can be segmented into frozen products, and dried products. Based on distribution channel, the market is segmented into Offline retail, and Online retail. Based on consumer demographics, the market is segmented into age, and gender. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By type, the market can be segmented into frozen products and dried products. Frozen ethnic foods have a dominant market share than dried ethnic foods. This can be attributed to the convenience and ease of preparation that frozen ethnic foods offer. Frozen ethnic foods are often pre-cooked and require minimal preparation, making them a popular choice among busy consumers who seek quick and easy meals. Additionally, frozen ethnic foods have a longer shelf life than their dried counterparts, making them a more convenient choice for consumers who prefer to stock up on their favorite ethnic foods.
The dried ethnic foods are fastest-growing segment that experiencing a surge in popularity. This can be attributed to the growing interest in healthy and natural food products. Dried ethnic foods often use natural ingredients and are free from preservatives and additives, making them a healthier choice for consumers who are conscious of what they eat. Additionally, dried ethnic foods have a lower environmental impact than frozen ethnic foods, as they require less energy to produce and store.
Analysis by Distribution Channel
By distribution channel, the market can be segmented into offline retail and online retail. Offline retail dominated the global market. This can be attributed to the convenience and availability of offline retail stores such as supermarkets, specialty stores, and local ethnic food stores. Offline retail stores offer consumers the opportunity to browse and purchase ethnic foods in person, as well as the chance to ask questions and receive recommendations from knowledgeable staff. Additionally, offline retail stores often offer a wider variety of ethnic food products compared to online retailers, particularly for fresh and perishable items.
The, online retail is fastest-growing segment that experiencing a surge in popularity. This can be attributed to the growing trend of e-commerce and the convenience it offers to consumers. Online retail allows consumers to purchase ethnic foods from the comfort of their own homes and have them delivered directly to their doorstep, which is especially appealing to busy consumers who value convenience. Online retailers also offer a wider selection of ethnic food products from different regions, which may not be available in offline retail stores.
Global Ethnic Food Market By Type (%)
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Ethnic Food Market Regional Insights
North America dominated the global market with the US being the largest market due to its diverse population and the popularity of international cuisine. Mexican food is a popular ethnic cuisine in North America, with the US being the largest consumer of Mexican food outside of Mexico itself. According to a report, the Mexican food segment in North America is expected to grow at a CAGR of 8.2% during the forecast period.
On other hand, the APAC region is expected to witness rapid growth due to the rising demand for traditional and authentic Asian cuisine. According to our analysis report, the ethnic food market in the APAC region is expected to grow at the fastest CAGR from 2023 to 2030. Within the APAC region, countries like India and Indonesia are expected to witness significant growth due to the increasing popularity of traditional cuisine and the growing middle-class population.
Global Ethnic Food Market By Region
- Largest
- Fastest
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Ethnic Food Market Dynamics
Drivers
Increasing demand for natural and healthy drinks
- One major driver of the growth in the ethnic food market is changing consumer preferences and the increasing demand for diverse and exotic flavors and cuisines. As consumers become more open to trying new and international foods, the demand for ethnic food has increased, leading to the growth of the market. Additionally, the rise in health consciousness among consumers has also driven the growth of the market, as ethnic foods are often perceived as healthy and natural due to their use of fresh ingredients and traditional cooking methods.
Restraints
Difficulty in maintaining authenticity and consistency in taste
- One major restraint to the growth of the ethnic food market is the difficulty in maintaining authenticity and consistency in taste across different regions and countries. Ethnic cuisine relies heavily on traditional recipes and cooking methods that may not be easily replicated in other parts of the world. In addition, cultural and religious differences may also impact the availability and consumption of certain ethnic foods in different regions. The high cost of importing and sourcing authentic ingredients may also pose a challenge for smaller businesses looking to enter the ethnic food market.
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Ethnic Food Market Competitive Landscape
The competitive landscape of the ethnic food market is highly fragmented, with numerous small and large players competing for market share. The market is characterized by intense competition, with players focusing on innovation, product differentiation, and pricing strategies to gain a competitive edge. In addition, players are also focusing on expanding their distribution networks and enhancing their online presence to reach a wider consumer base. Local and regional players also play a significant role in the market, offering unique and traditional ethnic cuisine that appeals to the local population.
Top Player’s Company Profiles
- General Mills Inc. (US)
- The Kraft Heinz Company (US)
- Ajinomoto Co., Inc. (Japan)
- ConAgra Brands Inc. (US)
- Unilever Group (Netherlands)
- Tyson Foods Inc. (US)
- Hormel Foods Corporation (US)
- ITC Limited (India)
- Indofood Sukses Makmur Tbk (Indonesia)
- Tingyi (Cayman Islands) Holding Corp. (China)
- Jinmailang Foods Co. Ltd. (China)
- San Miguel Pure Foods Company Inc. (Philippines)
- Nissin Foods Holdings Co. Ltd. (Japan)
- McCain Foods Limited (Canada)
- Campbell Soup Company (US)
- JFC International Inc. (US)
- Kikkoman Corporation (Japan)
Recent Developments
-
In March 2024, as the world celebrates global cuisine and cultural diversity more than ever, StoresGo.com proudly leads the way in this culinary revolution. Our groundbreaking partnership with Key Food, Lake Worth Beach, and Key Food, Lantana, both esteemed supermarket companies, marks a major step forward in our mission. This collaboration not only broadens our diverse range of authentic ethnic food products and artisanal delights but also cements our position as the premier online marketplace in this specialized niche.
-
In December 2023, South Korean food company CJ CheilJedang Corp. unveiled its Excycle Basak Chip, a snack created through their in-house venture program and centered around the concept of food upcycling, in international markets.
- In October 2023, Haldiram’s Nagpur, a renowned Indian brand famous for its ethnic snack foods, unveiled the highly anticipated "Minute Khana" range. This collection offers preservative-free frozen and Ready-to-Eat (RTE) food options, now available in India.
Ethnic Food Key Market Trends
- One key market trend in the ethnic food industry is the increasing popularity of plant-based and vegetarian/vegan options. As consumers become more health-conscious and environmentally aware, there is a growing demand for ethnic foods that are free from animal products and use plant-based ingredients. Many companies are responding to this trend by introducing vegetarian and vegan options in their ethnic food product lines. This trend is expected to continue in the coming years, as more consumers adopt plant-based diets and look for healthier, sustainable, and ethical food choices.
Ethnic Food Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our ethnic food market analysis, the market is a highly competitive and diverse industry, with numerous players operating in various regions across the globe. The market is being driven by changing consumer preferences, increased demand for diverse and exotic flavors, and rising health consciousness among consumers. However, maintaining authenticity and consistency in taste across different regions and countries, and the high cost of importing and sourcing authentic ingredients, pose challenges to the market growth. The industry is also witnessing the increasing popularity of plant-based and vegetarian/vegan options, as consumers become more health-conscious and environmentally aware. The market is expected to continue growing, with players focusing on innovation, product differentiation, pricing strategies, and expanding their distribution networks to gain a competitive edge.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 39.7 billion |
| Market size value in 2031 | USD 84.81 billion |
| Growth Rate | 8.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ethnic Food Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ethnic Food Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ethnic Food Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ethnic Food Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ethnic Food Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ethnic Food Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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