How Globalization of Regional Food Products is Driving the Sales of Top Ethnic Food Companies in the World

Ethnic foods are made with local ingredients of plants and animal sources and come from ethnic group’s heritage and culture. Rapid expansion of the packaged and frozen food sector is augmenting the ethnic food demand. As per a report by Fortune Business Insights™, the market for ethnic food reached USD 76.73 billion in 2022 and is set to reach USD 131.67 billion in 2030 with a CAGR of 7.08% during 2023-2030. The market is also expected to reach the valuation of USD 81.59 billion in 2023. Reduced ethnic food production and restricted export facilities hampered market growth amid the COVID-19 outbreak. By introducing local ethnic food products in international markets, leading companies are increasing their product offerings.

Fortune Business Insights™ Profiles Top 10 Ethnic Food Companies in the Market

1. Ajinomoto Co. Inc.

A top ethnic food product supplier, Ajinomoto Co. Inc. has offices in 35 countries and regions and distributes products in over 130 countries. It runs nine factories with 2,800 employees across all food market categories. It is established on the ideas outlined in the international ISO standards. It ensures the quality through the Ajinomoto System of Quality Assurance (ASQUA). In August 2022, Ajinomoto Co. Inc. made investments to enhance its on-shelf availability and strengthen its alliance with IRI to leverage its Daily Out-Of-Stock (OOS) benchmarking tool.

2. McCormick & Company Inc.

Headquartered in the U.S., McCormick & Company Inc. sells condiments, spices, seasoning mixes, and other flavoring items to food producers, food service companies, and retail stores. To increase its product portfolio, the company is also concentrating on business expansion. In November 2020, Cholula Food Company was purchased by McCormick & Company for USD 800 million. Cholula Food Company is a company based in Mexico that offers authentic Mexican-flavored hot sauces.

3. General Mills

Founded in 1928 and situated in Minnesota, U.S., General Mills Inc. is one of the top food, beverage, and pet food product manufacturers. It has a large consumer base across the globe. It has a production facility in 13 countries and sells its products through retail in more than 120 countries globally. To improve its brand image globally, the company focuses on advancements, new product introductions, mergers and acquisitions, and increasing market presence in developing countries. In October 2021, to launch new flavors of taco shells and develop its Old El Paso product line, General Mills collaborated with U.S. chip brand Takis. The company distributes the Hot Chili Pepper and lime-flavored Stand 'N Stuff taco shell.

4. Associated British Foods PLC

By working in 53 countries across Europe, the Americas, Africa, Asia, and Australia, Associated British Foods PLC (ABF) is a dynamic international food, ingredients, and retail company. It emphasizes ethics and aspires to maintain a culture of faith, justice, and accountability. In 2021, to enhance a common strategy for producing a sustainable spice and herb sector, Associate British Foods connected with the Sustainable Spice Initiative (SSI), a partnership of more than 40 companies and many NGOs.

5. Nestle S.A.

One of the top ethnic food companies in the world, Nestle S.A. is a Switzerland-based food producer with a wide range of products, including food and beverage segments and services for all age groups of consumers. With more than 400 facilities globally, out of which 18 facilities are Zero Water Factories, the company runs in more than 190 countries. The company’s skilled technicians, engineers, and scientists are engaged in introducing nutritional and healthier food products. In February 2023, Nestle declared it would demonstrate and analyze new products at the Natural Products Expo West 2023 in Anaheim. At its Nestle U.S. booth, the company will present over 35 products from over 15 brands.

6. MTR Foods Pvt. Ltd.

An Indian heritage brand, MTR Foods has over 90 years of experience offering quality and ethnic Indian food. MTR Foods is known for providing authentic culinary secrets in a unique and easy-to-use format. It has a variety of masalas, condiments, and ready-to-eat and all-inclusive meals. By maintaining and recreating conventional recipes from generation to generation, MTR has successfully brought India together. MTR is engaged in implementing advanced technologies and emphasizes innovation excellence. It is introducing unique and authentic flavors to meet its rising consumer demand for this type of foods. In December 2021, under the MTR Minute Fresh, MTR Foods presented an Idli dosa batter category. On the basis of MTR's extensive knowledge and legacy in ethnic Indian food, the Minute Fresh range has been produced.

7. Asli Fine Foods

Established in 1998, Asli Fine Foods concentrate on making partnerships and offering high-quality ethnic type of food products to consumers. Asli, American, Puja, Pola, and Simba are some of the company's brands.  The company offers selected best-quality beans, edible oils, flour, lentils, nuts, spices, rice, and pickles under its leading brand, Asli. Asli Fine Foods assures product affordability without compromising quality. These products are provided across the U.S. and Canada to grocery stores, ethnic markets, and industrial wholesalers.

8. Conagra Brands Inc.

By producing and offering food products under different brands, Congara Brands, Inc. runs in 50 countries. It has about 99 production units and a varied network of contract manufacturers. The company is constantly working on product introduction and new product development to provide customers with safe, affordable, healthy food products. The business has made investments in the production capacity to boost its product quantity. In June 2022, a frozen food producer, Birds Eye brand Conagra Brands, heavily invested in widening the production processing unit. The company unveiled a new 245,000-square-foot production facility. By increasing its production capabilities, the company is all set to maintain its strong position in the food segment.

9. Taco Bell

A top food business that offers food, taco pizza, and Mexican-style food items called Yum Brands Inc., which is the parent company of Taco Bell. By delivering different products, including tacos, burritos, wraps, quesadillas, meals, and burrito rolls, the company is constantly constructing the fastest-growing restaurants. It is focused on collaborations with other food chains to increase its product and reach in the market. In 2021, to give its hot sauce packets a spicier second life that doesn't involve a landfill, Taco Bell teamed up with the international recycling leader TerraCycle.

10. ARYZTA

With a commanding position in the baking industry, an international bakery business, ARYZTA provides a variety of products and services appropriate for in-store baking solutions. Artisan bread, cakes, cookies, doughnuts, muffins, and rolls are offered by this company and it has exceptional capacities in the baking industry. ARYZTA is established in Schlieren, Switzerland, with activities in Europe, Asia, Australia, and New Zealand.

Growing Consumption of Frozen Food Products to Create Lucrative Opportunities

Initially, there were more concerns related to the freshness of frozen food products. But nowadays, advanced freezing technologies are integrated to protect frozen food while shipping them to different markets. Top ethnic food companies in the world constantly focus on introducing novel frozen food products, including pizza, Japanese food products, and Chinese food items.