Top 5 Companies Dominating the Global Ethnic Foods Market Amid the Rapid Globalisation

The global ethnic foods market is expected to grow at a CAGR of 12% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, rapid globalisation is driving the growth of the global ethnic foods market.

The rapid globalisation and the increasing immigration activities are bolstering the demand for ethnic foods. The market is also being aided by rising international tourism activities, the growing acceptance of ethnic foods in various countries, and the globalisation of food supplies. The emerging trend of cultural diversity, especially in developed countries, is bolstering the acceptance of diverse ethnic foods.

The increasing westernisation in emerging countries like India is prompting consumers to seek new and innovative cuisines, hence invigorating the growth of the ethnic foods market. The growing political awareness, the rising cultural tolerance, and the increasing trend of multiculturalism are making ethnic food a marker of inclusiveness.

The proliferation of ethnic cuisines in the global metropolitan culture is positively influencing the market growth. As food is considered a symbolic representation of a culture, ethnic dining and cuisines are increasingly becoming more complex and sophisticated. Moreover, the rising consumer awareness is propelling the demand for authentic ethnic cuisines.

Various leading food companies are merging ethnic and globalised flavours to meet consumer demands for exotic and bold flavours. The trend of adventurous eating, especially among millennial and Gen-Z consumers, is boosting the launches of food and beverages with ethnic flavour profiles. In addition, the increasing offering of ethnic food like tacos and burritos by leading fast food restaurant chains is expected to propel the market growth in the forecast period.

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Top 5 Global Ethnic Foods Companies:

Ajinomoto Co. Inc.

Ajinomoto Group is a global food beverage company and is one of the most prominent producers of amino acids. Some of the key business segments of the company include frozen foods, seasonings, and healthcare products. With wide presence in 36 countries, the company offers expertise in sales and marketing, product development and manufacturing, and branding. The company attained annual sales of JPY 1149.3 billion in 2021.

McCormick & Company, Incorporated

McCormick & Company is a leading company that offers a diverse portfolio of innovative and balanced flavours. Some of its leading brands include Billy Bee, Aeroplane, Cholula Hot Sauce, and FONA, among others. Various leading foodservice restaurants and food and beverage companies partner with McCormick & Company. With 14,000 employees and presence in 170 countries, the company’s annual sales reached USD 6.3 billion in 2021.

Associated British Foods PLC

Associated British Foods PLC is a diversified ingredient, food, and retail company that aims to provide nutritious, safe, and affordable food. With sales of EUR 13.9 billion in 2021, the company employs over 128,000 people in 53 countries across the Americas, Australia, Asia, Europe, and Africa. Some of its leading businesses include sugar, ingredients, grocery, retail, and agriculture.

General Mills, Inc.

General Mills Inc. is a food company that markets some of the most iconic North American brands, including Colombo, Gold Medal flour, Yoplait, Pillsbury, Old El Paso, Betty Crocker, and Haagen-Dazs, among others. It is one of the leading suppliers of unbranded and branded food products in the commercial baking and foodservice sectors in North America. Some of its major consumers include membership stores, e-commerce retailers, retail stores, convenience stores, restaurants, and speciality stores, among others.

Paulig Group

Paulig Group is a food and beverage company that markets and sells high-quality products such as spices, coffee, plant-based products, food concepts, and snacks. The company offers its products to caterers, retailers, and the food sector. It operates in 13 countries around the world, employing near 2200 people. It operates 10 factories, and its products are sold in 70 countries.

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