Intrepid Spotlight | Extra Spicy: The Market for Ethnic Foods Heats Up

Ethnic foods are poised to become an increasing share of stomach for U.S. consumers, driven by Millennial and GenZ openness to and desire for new ethnic foods, increasing cuisine options fostered by a growing, more diverse fabric of immigration over the last few decades and a new generation of players whose offerings more authentically address consumers’ wants and needs. Large Consumer Packaged Goods (“CPG”) players are generally underweight ethnic foods with most of their historic focus on legacy Americanized ethnic brands. Increased investment from private equity to scale and enhance the largely family-owned, up-and-coming players, portends more deal activity to come.

Intrepid FBA Ethnic Foods vF thumbnail

To read the full report, click here.


  • We’ve looked at the latest U.S. demographic trends to predict the fastest areas of growth and the strongest likelihood of deal activity
  • Analysis of existing CPG portfolios and next generation players by cuisine illustrate areas of whitespace ripe for disruption
  • The next Rao’s, Sabra or Chobani? What these companies got right on their path to becoming market leaders
  • Key considerations for business owners and investors to seize the opportunity