Burritos, enchiladas, quesadillas—you don’t have to go to Mexican restaurant or scour the ethnic foods aisle in your supermarket if that’s what you’re in the mood for. Hispanic foods and beverages have become so common a part of the American menu many consumers would have to think twice before characterizing them as a distinct ethnic cuisine. Are there any food courts in sports venues these days that don’t offer nachos as standard fare alongside hotdogs? Is there a supermarket or grocery anywhere in the country that doesn’t carry tortilla chips and salsa, even if there are no Hispanic consumers in their community?
With Hispanic foods and beverages achieving such prominence, it’s no wonder that sales were close to $7 billion in 2009, according to the recent report from Packaged Facts titled “Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisine, 4th Edition.” This represented an increase of 28.7% from $5.4 billion in 2005. In addition, Packaged Facts predicts continued aggressive growth through 2014, with sales projected to top $9.5 billion in 2014.
The report details how the expanding appetite for Hispanic food and drink among non-Hispanic Americans combined with the rapid increase in the Hispanic population is driving sales of Mainstream Mexican products along with Authentic Hispanic and Nuevo Latino foods. Expanding distribution channels, the rise of the “foodie” and other key trends affecting the marketplace are described along with the changing demographics and other factors driving growth. In addition, the report profiles major marketers, both in the manufacturing and foodservice arenas.
Read an excerpt from this report below.
The information contained in this report was obtained from both primary and secondary research. Primary research entailed on-site examinations of retail venues, which encompass club stores, convenience stores (c-stores), dollar stores, drugstores, health/natural foods stores, mass merchandisers, neighborhood bodegas/super mercados, mainstream supermarkets and other retail outlets. Industry participants were also interviewed for insights and clarifications on questions of ingredients, marketing strategies, etc.
Secondary research was gathered from relevant sources including consumer and industry publications, newspapers, government reports, financial reports, company literature and corporate annual reports. Key sources also included the U.S. Department of Agriculture (USDA), Information Resources, Inc. (Chicago, IL) and other trade sources. The analysis of consumer demographics is derived from fall 2009 Simmons Market Research Bureau (New York, NY) data.
In addition to covering packaged products sold through the various types of retail outlets mentioned above and developments in the retail marketplace relevant to Hispanic foods and beverages, this report includes qualitative and quantitative information on foodservice sales through a variety of channels such as fast-food outlets, sit-down restaurants, mobile units, etc. Foodservice coverage focuses on those outlets that are owned and operated or founded by immigrants from Latin American countries or Hispanic-Americans and which feature exclusively or predominantly Hispanic menus. But it also includes coverage of the expanding presence of Hispanic foods and beverages in traditional “American” foodservice outlets.
What You’ll Get in This Report
“Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisine” makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that “The U.S. Market for Hispanic Foods & Beverages” offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
How You’ll Benefit from This Report
If your company is already doing business in the Hispanic food and beverage market, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for Hispanic foods and beverages, as well as projected markets and trends through 2014.
This report will help:
Market Insights: A Selection From The Report
Product Categories Driving Growth
Packaged Facts projects that eight Hispanic food and beverage categories will experience double-digit CAGRs during the 2010-2014 forecast period. The categories, and their respective CAGRs, are Picante (16%); Nectars/Juices/Drinks (13%); Meat: Fresh, Frozen, and Canned (13%); Fruits/Vegetables: Canned, Dried, Frozen, and Jarred (12%); Cheese (12%); Milk/Milk-Style Beverages (11%); Bakery Items (10%); and Yogurt/Cultured Dairy Drinks (10%).
Factors Affecting Market Growth
There are several reasons that the market for Hispanic foods and beverages has been growing and they will continue to drive the market in the next few years as well. The key factors include the expanding Hispanic population, which also includes the expanding buying power of this demographic. Added to that is the increasing popularity of Hispanic foods and beverages among non-Hispanic consumers as well as the increasing availability of the products.
The Hispanic population in the United States is the largest minority group with an estimated 2010 population of 49.7 million—16 percent of the total population. Through the end of the half century, the Hispanic population is projected to grow at a CAGR of 2.49 percent, nearly three times that of the overall population.
The 28.2 million Mexicans living in the United States constitute a significant majority of the
Hispanic population (64%). Puerto Ricans, the second-largest Hispanic segment, represent
9% of the Hispanic population. No other national segment accounts for more than 4% of the
Hispanic Food and Beverage Market to Continue Aggressive Growth Through 2014
New York, June 9, 2010 — The expanding appetite for Latino cuisine among non-Hispanic Americans, combined with the rapid increase in the United States’ Hispanic population, will be a boon for the $7 billion Hispanic food and beverage market, helping to drive sales to $10 billion in 2014, according to Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisine, 4th Edition, the latest market research study by publisher Packaged Facts.
Along with population growth, buying power within the Hispanic population is expected to increase significantly in the next four to five years. Packaged Facts projects that the buying power of Latinos will reach $1.3 trillion in 2013 up from $984 billion in 2008, representing a cumulative growth rate of 31%. In addition, Hispanic shoppers spend significantly more than other groups on food consumed at home, due to the importance of family mealtime and larger family units.
Packaged Facts separates the Hispanic food and beverage market into three segments: Mainstream Mexican (tortillas, salsa, tacos, burritos, nachos, refried beans, Tex-Mex cuisine, and other products that have become part of the American culture); Authentic Hispanic (products either imported from Hispanic countries to the United States or products made domestically that use traditional recipes); and Nuevo Latino (products with south-of-the-border flair, including traditional American foods made with Hispanic ingredients, as well as unique new creations that meld a variety of Hispanic flavors and food traditions).
In particular, Authentic Hispanic and Nuevo Latino are garnering substantial sales boosts from America’s population of adventurous food enthusiasts known as “foodies.” The demand has caused new Hispanic food products to pour forth from manufacturers seeking to increase variety to meet the ever restless American appetite for the new and different. Foodservice operators are likewise creating innovative and exciting dishes to keep pace with consumer demand.
“All three segments of Hispanic food are becoming increasingly available throughout the U.S. due to expanded distribution through both retail and foodservice outlets and expanded awareness of these products as a result of mass communications on television and the Internet about Hispanic foods and cooking techniques,” says Don Montuori, publisher of Packaged Facts. “The fact that the Hispanic population is expanding beyond traditional enclaves in California, the Southwest, Florida, and major metropolitan areas like New York and Chicago to communities which previously had either no Hispanic presence or only a small one further benefits the market.”
As the 4th edition of a popular Packaged Facts title,Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisineinvestigates the primary factors driving sales in the market. In addition to covering packaged products sold through various retail outlets and developments in the retail marketplace relevant to Hispanic foods and beverages, this report includes qualitative and quantitative information on foodservice sales through a variety of channels such as fast-food outlets, sit-down restaurants, mobile units, and more. Foodservice coverage focuses on those outlets that are owned and operated or founded by immigrants from Latin American countries or Hispanic-Americans and which feature exclusively or predominantly Hispanic menus. The report also includes coverage of the expanding presence of Hispanic foods and beverages in traditional “American” foodservice outlets.
About Packaged Facts - Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services.