Cooking Up Growth: Asian Food’s Rise in North America

Asian food has exploded from niche to mainstream, transforming North America’s dining and grocery landscape.

Once confined to small “ethnic aisles” or family-run eateries, the category is now a US$37bn market growing at over 5% annually, outpacing the broader food sector. Immigration, cultural influence, and Gen Z’s appetite for global flavors are fueling the shift—turning dumplings, ramen, and kimchi into everyday staples.

North America’s retail shelves and restaurants are proof of this momentum. H Mart has become a US$2bn powerhouse, Jollibee has crossed 100 locations, and mochi ice cream has gone from novelty to freezer-aisle must-have. Asian corporates like CJ, Ajinomoto, and Pulmuone are planting factories on US soil, while private equity has piled in—reshaping family-run businesses into billion-dollar platforms through modernization, consolidation, and brand building.

What was once “ethnic” is now essential. Underrepresented cuisines—Filipino, Vietnamese, Indian—are set to drive the next wave, with health, wellness, and fusion formats pushing boundaries. For strategics and sponsors alike, Asian food has moved from novelty to necessity, cementing itself as the next strategic growth engine.

BDA is actively tracking the best investment and acquisition targets in this fast-growing sector. Our cross-border expertise and track record in food and beverage M&A position us to help clients capture this transformation.

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