The Latino culture has impacted U.S. grocery trends to the extent that it has redefined American cuisine, and the segment continues to play an integral role in the nation’s food sector, according to “Hispanic Foods and Beverages in the U.S., 5th Edition,” a report released by market research firm Packaged Facts.
Overall, the U.S. market for Hispanic food and beverages exceeded $8 billion in 2012, an increase of 3 percent from the previous year, and an increase of more than 8 percent from 2009. Packaged Facts projects that sales of Hispanic food and beverages will approach $11 billion in 2017, up 31 percent from present levels.
According to David Sprinkle, Packaged Facts’ research director, “Hispanic foods and beverages appeal to a wide variety of consumers, from Spanish-only speakers to multicultural consumers and foodies to, in fact, most households in America.” Sprinkle also noted that mainstream shoppers are branching out into less well-known Hispanic offerings due to the “popularity of foodie culture.”
Almost 73 percent of survey respondents said they use Mexican food and ingredients, according to Packaged Facts’ analysis. For Hispanics, the usage rate jumped to almost 84 percent. Considering the tremendous—and burgeoning—buying power of Latinos, this is a demographic that marketers cannot afford to ignore even while introducing products that appeal to a wider audience.
Rockville, Md.-based Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, and CPG’s, among others.