Year 12 | 20 January 2020 | firstname.lastname@example.org
Salsa or ketchup? Tortillas or hot dog buns? The Latino culture has impacted U.S. grocery aisles to such an extent that it has redefined American cuisine, and its long-standing role in the food sector has expanded to become irrepressibly evident, according to Hispanic Foods and Beverages in the U.S., 5th Edition, a just-released report from market research firm Packaged Facts.
Tortillas outsell many American staples, including spaghetti/macaroni/pasta, hamburgers and hot dog buns, all other fresh rolls/buns/croissants, and bagels/bialys. Salsa, for its part, has almost twice the sales of ketchup and more than twice the sales of mustard. Overall, the U.S. market for Hispanic foods and beverages exceeded $8 billion in 2012, an increase of 3% from the previous year and an increase of more than 8% from 2009. The market will embark on a more aggressive growth pattern from now through 2017. Packaged Facts projects that sales of Hispanic foods and beverages will approach $11 billion in 2017, up 31% from present levels.
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, according to David Sprinkle, research director of Packaged Facts. Aiding the appeal of the market is that there is no shortage of product innovation. Mainstream consumers are becoming more adventurous with less well-known Hispanic flavors and textures, thanks to the influence of Hispanics and the popularity of foodie culture. Marketers such as Ruiz Foods and Goya have noted this more sophisticated taste and are adjusting their product mixes accordingly.
Yet, as mainstream as Hispanic products have become, Hispanics are still key consumers. Almost 73% of people surveyed said they use Mexican food and ingredients, according to Packaged Facts analysis. For Hispanics, the usage rates jump to almost 84%. 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.
For more information, please visit www.marketresearch.com or http://www.packagedfacts.com/Hispanic-Foods-Beverages-722...
by S. C.
07 december 2012, World News > America