Ethnic Supermarkets in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: February 2024
NAICS OD4333Revenue
$57.6bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
193k
Businesses
15,161
Wages
$X.Xbn
Ethnic Supermarkets in the US industry analysis
Ethnic supermarkets sell culturally diverse food for at-home consumption. The growing Hispanic and Asian populations in the US heavily influence demand for ethnic ingredients and other products. Younger consumers across ethnic groups represent an increasing customer base for ethnic food retailers. The pandemic led to more consumers buying ethnic products, as many benefited from higher disposable income. Social distancing regulations forced many restaurants to operate at a lower capacity or fully shut down, pushing customers to cook more at home. This led many consumers outside the target demographic to explore different cultural ingredients, boosting sales and profit.
Trends and Insights
- The growing immigrant population boosts demand for foreign products. Consumers are inclined to purchase products and ingredients they are familiar with, resulting in more ethnic stores to meet the growing demand.
- Ingredients and other foods generate the most revenue. Consumers are constantly replenishing their pantries with ingredients for everyday meals, making other foods a strong segment for food stores.
- Supermarkets in major cities have access to more buyers. This is particularly true for ethnic markets, as large cities tend to have the largest immigrant populations.
- Competition within the industry is limited, as product offerings vary greatly based on the store's demographic. Hispanic-focused markets will not face significant competition from Asian markets and vice-versa.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.0 % over the past five years, to reach an estimated $57.6bn in 2024.
Trends and Insights
A growing ethnic population supports sales
- Various ethnic groups are increasingly establishing a presence in the US, particularly in major metropolitan cities. Stores catering Ethiopian and West African cultures are being increasingly represented.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Rising costs threaten profit growth
- As the economy recovers from the pandemic and its aftermath, disposable income and consumer confidence will experience strong grow, boosting discretionary spending. Improving economic conditions enables manufacturers to spend more on producing premium goods sold to ethnic grocers at a high price.
Biggest companies in the Ethnic Supermarkets in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Ethnic Supermarkets in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Ethnic Supermarkets in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Meats, Produce and Frozen foods. Meats is the largest segment of the Ethnic Supermarkets in the US.
Trends and Insights
Other food items are household staples
- Most shoppers will ultimately prepare their meals at home; raw ingredients such as flour, spices, cooking oils and fats are commonly used for many meals and tend to be pantry staples, ensuring steady demand for ethnic stores.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Supermarkets & Grocery Stores in the US
- Meat Markets in the US
- Fish & Seafood Markets in the US
- Specialty Food Stores in the US
Complementors
- There are no industries to display.
International industries
- Supermarkets & Grocery Stores in Canada
- Supermarkets and Grocery Stores in Australia
- Supermarkets, Grocery Stores and Convenience Stores in New Zealand
- Supermarkets in the UK
- Supermarkets in Ireland
Table of Contents
About this industry
Industry definition
Supermarkets in this industry retail food to specific ethnic groups. This includes Asian, Hispanic and other ethnic grocery stores that carry mainly specialty products not found in mainstream supermarkets.
What's included in this industry?
Retailing Asian groceriesRetailing Hispanic groceriesRetailing groceries for other ethnicitiesCompanies
Purchase this report to view all major companies in this industry.
Related Terms
ELECTRONIC DATA INTERCHANGE (EDI)SELF-CHECKOUT SYSTEMOSECHI SETPOINT OF SALE (POS)Industry Code
NAICS 44511 - Ethnic Supermarkets in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The growing immigrant population boosts demand for foreign products. Consumers are inclined to purchase products and ingredients they are familiar with, resulting in more eth...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Ingredients and other foods generate the most revenue. Consumers are constantly replenishing their pantries with ingredients for everyday meals, making other foods a strong s...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Supermarkets in major cities have access to more buyers. This is particularly true for ethnic markets, as large cities tend to have the largest immigrant populations.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competition within the industry is limited, as product offerings vary greatly based on the store's demographic. Hispanic-focused markets will not face significant competition...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Many small grocery stores comprise the industry. This trend keeps the industry fragmented and prevents companies from capturing a large share of the market.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Falling consumer confidence prevents ethnic stores from reaching new markets. Consumers are wary of trying new products during uncertain times, causing them to lower spending...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Wages fall amid growing automation. Larger ethnic supermarkets have increasingly implemented self-checkout solutions, lowering the need for human labor.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Ethnic Supermarkets in the US industry in United States in 2024?
The market size of the Ethnic Supermarkets in the US industry in United States is $57.6bn in 2024.
How many businesses are there in the Ethnic Supermarkets in the US industry in 2024?
There are 15,161 businesses in the Ethnic Supermarkets in the US industry in United States, which has declined at a CAGR of 2.0 % between 2019 and 2024.
Has the Ethnic Supermarkets in the US industry in United States grown or declined over the past 5 years?
The market size of the Ethnic Supermarkets in the US industry in United States has been growing at a CAGR of 3.0 % between 2019 and 2024.
What is the forecast growth of the Ethnic Supermarkets in the US industry in United States over the next 5 years?
Over the next five years, the Ethnic Supermarkets in the US industry in United States is expected to grow.
What does the Ethnic Supermarkets in the US in United States include?
Retailing Asian groceries and Retailing Hispanic groceries are part of the Ethnic Supermarkets in the US industry.
How competitive is the Ethnic Supermarkets in the US industry in United States?
The level of competition is moderate and increasing in the Ethnic Supermarkets in the US industry in United States.
