Ethnic Food Market size is expected to reach USD 70.8 billion by 2028

 Ethnic Food Industry Overview

The global ethnic food market size was valued at USD 39.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2022 to 2028.

 

This can be credited to the rise in popularity of ethnic foods among developed nations. Consumers' growing interest in Asian cuisines globally, for example, Chinese and Japanese, is leading to the rise in demand for ethnic foods. The growing migration of Asian people to developed nations is also propelling the market growth. Furthermore, the rising millennial population which is always in search of exotic experiences is increasingly positive to adopt new ingredients and flavors in their food palate. This is also expected to propel the growth of the market for ethnic food during the coming years. Growing inclination among the millennial population towards experimenting, eating out, and eating inter-country foods on regular basis has been providing a surplus of growth opportunities for this market. 

 

Gather more insights about the market drivers, restrains and growth of the Global Ethnic Food Market

 

Market growth was impacted negatively due to the Covid-19 pandemic outbreak. During the peak infection period, various governments’ restricted formal gatherings, imposed lockdowns and prohibited international travel. This had impacted on the hotel and foodservice industry negatively, as many people preferred to stay inside to prevent from the infection. The lack of regular customers, and lack of tourists led to decrease in the consumption of ethnic food through major channels. This also led to quick rise in the online and home deliveries of food items and grocery products. Over the forecast period, the market for ethnic food is expected to recover fast and witness promising growth due to resumption of businesses, tourism and trade activities as well.

 

Furthermore, rising number of specialized ethnic food supermarket chains in developed regions is driving the market for ethnic food by increasing accessibility and availability of ethnic food items. Growing westernization in developing countries is changing the taste and food experiences of people. More people are opting for eating out and interested in trying exotic and intercontinental food dishes. The consumer’s inclination towards innovative and creative cuisines is increasing as eating good food is being termed as therapeutic. All these factors are expected to drive the market for ethnic food over the forecast period.

 

Additionally, growing globalization policies and international travel are further positively propelling market growth. Furthermore, rising immigration for better employment opportunities, also cumulative disposable income has also led to significant upsurge in demand for the ethnic foods.  Growing investment by key players for the introduction of new products coupled with increasing focus among manufacturers on food quality, packaging formats, and cuisine variants will further support the industry sales.

 

Browse through Grand View Research's Consumer F&B Industry Research Reports

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Key Companies Profile

Some of the prominent players in the ethnic food market include:

  • Associated British Foods PLC
  • General Mills, Inc.
  • Ajinomoto Co. Inc.
  • McCormick & Company Inc.
  • Orkla ASA
  • ARYZTA AG
  • Paulig Group
  • The Spice Tailor
  • Asli Fine Foods

 

Order a free sample PDF of Ethnic Food Market Intelligence Study, published by Grand View Research. 

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