ETHNIC FOODS
Ethnic food is produced by or originated from a group not native from the country it resides
▪ Growth and development in the industry is mainly driven by a rising number of migrants around the globe as well as young people looking to adopt new flavors and ingredients into their diets, resulting in new gastronomic combinations
▪ In the USA, ethnic food growth is being led by a growing interest in Asian cuisines, such as Thai and Japanese
▪ The increasing number of specialized-food supermarket chains in the US, such as iFresh, H Mart, and Mitsuwa, will further drive consumption
▪ Competition is expected to intensify due to aggressive M&A from existing companies in the space to enter the market, as well as newer companies founded by migrants
▪ A key unexplored opportunity in the industry is ethnic beverages; research shows that 70% of consumers think ethnic food operators should offer beverages as well
▪ Online retail channels are expected to boost sales as tech-savvy Millennials’ demand for diverse foods and ingredients increase
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Capital IQ
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Mergermarket
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Research and Markets
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Technomic
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USA Census Bureau