Hispanic food popularity outpacing Hispanic population growth
A new report from Packaged Facts says the U.S. market for Hispanic foods will reach $8.2 billion this year. That is a 3 percent increase from last year and 8.2 percent above three years ago. The latest census data shows 52 million Hispanics in the United States in 2011representing 16.7 percent of the U.S. population. Up from 16.3 percent in 2010. And while the Hispanic population is the fastest-growing minority in the country, the popularity of Hispanic food has grown to reach most households in the nation.
The market research company says tortilla and taco kits are outselling hamburger and hot dog buns while salsa has almost twice the dollar sales of ketchup. As a result, mainstream food giants like General Mills, Kraft, Kellogg’s, Heinz and others are now in the Latin market.
Packaged Facts is a leading publisher of market research in the food, beverage, consumer packaged goods and demographic sectors in the United States. Read more here:
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