Appetite will grow for Hispanic foods
Research shows rapid increase in demand
New research from publisher Packaged Facts projects that sales of Latin food and drink will increase from $7 billion in 2010 to $10 billion in 2014. The report, “Hispanic Food and Beverages in the U.S.: Market and Consumer Trends in Latino Cuisine, 4th Edition,” credits the uptrend on a growing appetite for this food among non-Hispanics and a growing Hispanic population.
Buying power among Hispanics is also projected to grow by 31% from 2008 reaching $1.3 trillion in 2013. Hispanic shoppers spend more on food eaten at home because of the importance of family mealtime and larger family units, according to the report.