Ethnic Foods Market

Global Ethnic Foods Market Size (2024 to 2029):

Ethnic Foods Market is expected at USD 56.32 billion in 2024 and is anticipated to extent an over of USD 80.10 billion by 2029. The Ethnic Foods Market is estimated to experience reasonable growth to record a CAGR of 7.3% throughout the estimate period 2024 - 2029.

Impact of covid-19 on Ethnic Foods Market:

The COVID-19 scenario put an initial drag on the supply chain on both the raw material and final product side; however, as part of the associated snacks, the cake market eventually experienced an upward trend in demand, mainly in developing economies. The ease of foreclosure further prompted artisan cake makers to populate the market with new products, disrupting the brand category in a shorter period of time. In addition, this factor even led to product shortages on the counters, allowing manufacturers to embark on a capacity expansion.

REPORT COVERAGE: 

This research report on the Global Ethnic Foods Market has been segmented and sub-segmented based on culture, type, distribution channel, and region.  

Global Ethnic Foods Market - By Culture:

• Italian
• Mexica
• Japanese
• Chinese
• American

The Global Ethnic Foods Market can be segmented according to culture, type, and Distribution Channel. Depending on the culture it can be divided into Italian, Mexican, Japanese, Chinese, American, and Others. On the basis on type for Global Ethnic Foods Market it can be divided into Ready-to-eat and Food Service. Depending on the Distribution Channel it can be divided into Stores and Restaurants.

Global Ethnic Foods Market – By type:

• Ready-to-eat
• Food Service

Global Ethnic Foods Market - By Distribution Channel:

• Stores
• Restaurants

Global Ethnic Foods Market - Region:

• North America
• Europe 
• Asia-Pacific  
• Latin America 
• Middle East and Africa

The Market for Ethnic Foods has been categorized on the basis of geography to offer a clear understanding of the global market, the world Market for Ethnic Foods has been studied in four regions: North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. Among all regions, The Asia-Pacific region is expected to experience the fastest growth rate of the ethnic food industry due to population growth and urbanization. The younger generation has an ever-increasing disposable income and must migrate for better employment opportunities. This leads to an increase in demand for their ethnic cuisines. Westernization in countries like India is changing the eating habits of customers, and many are looking for different tastes. North America is also experiencing substantial growth due to high demand for ethnic products such as Asian sauce. The United States has seen an increase in the Asian population and many Asian cuisines like Thai and Indian have captured people's taste buds. Europe is one of the main emerging regions, which will generate significant market opportunities during the forecast period due to the Increasing employment opportunities around the world have led to an increase in immigration around the world. With rising immigration rates, due to employment opportunities, higher education, and tourism, the demand for ethnic foods has increased in Latin America. Latin American countries offer many expansion opportunities to the main players. The Middle East and Africa is one of the main emerging regions, which will generate significant opportunities in the market during the anticipated period due to the Increasing demand for wood pulp packaging is believed to put significant pressure on pulp industry supply chains. The region is expected to experience moderate growth during the forecast period due to the above factors. Turkey is considered a crucial market in the Middle East and Africa.

KEY MARKET PLAYERS:

The Ethnic Foods Market is concentrated with well-established players. Key players in the Ethnic Foods Market include Paulig Group, Ajinomoto Co. Inc., General Mills, Inc., Associated British Foods PLC, McCormick & Company, Incorporated, and Others

RECENT HAPPENINGS IN THE MARKET:

• PAI Partners, a Willkie client, has announced the acquisition of a majority stake in Euro Ethnic Foods (EEF), the company that owns and operates the grocery section of leading food retailer Grand Frais. PAI Partners will have a 60% stake in EEF, the founders of the company, Léo and Patrick Bahadourian, who will continue to own the remaining 40% of the business. Founded by the Bahadouriana family, EEF operates the grocery section of Grand Frais stores located in France, Belgium and Luxembourg. Additionally, EEF supplies groceries to independent stores, as well as organic and wholesale store networks, using its extensive distribution platform.
• Snyder's-Lance, Inc. today announced the completion of the acquisition of Diamond Foods, Inc. Under the terms of the agreement, Snyder's-Lance acquired all of Diamond Foods' outstanding shares in a cash-and-share merger transaction. This acquisition creates a powerful international snack company with an innovative and diverse product portfolio. The addition of leading snack brands such as Kettle Brand® Chips, KETTLE® Chips, Pop Secret® Popcorn, Emerald® Snack Nuts and Diamond of California® Culinary Nuts positions Snyder's-Lance to compete more widely and with enhanced capabilities.
• JM Smucker Co. announced Wednesday a definitive agreement to add Seattle-based Sahale Snacks Inc. brand fruit and nut mixes to its pantry of well-known food brands including Folgers Coffee, Jif Peanut Butter and pasta. The terms of the contract are not disclosed. Sahale Snacks is a privately held company with estimated annual sales of $ 50 million in warehouses, convenience stores and supermarkets. It has been a holding company for a private equity fund affiliated with Palladium Equity Partners LLC of New York since 2007.
• Amplify Snack Brands, Inc., a subsidiary of The Hershey Co., completed on October 17 the acquisition of B&G Foods, Inc.'s Pirate Brands business for approximately $ 420 million in cash. B&G Foods has stated that it intends to use the proceeds of the sale in conjunction with additional loans under its revolving line of credit to repay the total principal amount of $ 500.1 million of Tranche B term loans outstanding under its line of credit and repay taxes and fees and expenses related to the divestiture of the Pirate Brands business.
• Ajinomoto North America, Inc., a consolidated subsidiary of Ajinomoto Co., Inc. has entered into an agreement to acquire Windsor Quality Holdings, LP, and a private company in the United States. United for approximately 800 million dollars (approximately 84 billion yen).
• By combining Windsor's market power, American consumer knowledge, distribution and sales capabilities, and production footprint in the United States with AJINA's strengths in healthy, high-quality and delicious frozen food products, originally from Japan and backed by cutting-edge technologies, Ajinomoto Co. will accelerate its growth to meet its sales target of JPY 100 billion by fiscal 2020 for its frozen food business in North America and consolidate its position as the undisputed market leader of Asian / ethnic frozen foods.