Has announced the addition of the “Hispanic Foods and Beverages in the U.S., 6th Edition” report to their offering.
Marketers of Hispanic meals and beverages aim to remain competitive by providing loyal Hispanic foods consumers with new cultural taste experiences, leveraging Hispanic food culture’s aura of authenticity that appeals to consumers. Hispanic foods marketers are seeking ways to integrate their products into other food trends, especially into the growing demand for free from foods. These marketing methods will be crucial to both longtime Hispanic foods consumers as well as newcomers to the market. Further, the Hispanic food market now offers more mainstream versions of its products to consumers still wary of the Hispanic food culture.
The new report, “Hispanic Foods and Beverages in the U.S., 6th Edition”, covers Hispanic food marketers’ efforts as well as consumer behavior. The report projects that sales in the Hispanic foods market in the U.S. will increase in size from close to $17.5 billion in 2015 to over $21 billion in 2020, a compound annual growth rate (CAGR) of 3.8%.
Supporting this solid growth will be the ongoing increase of the Hispanic population in the U.S., both in numbers and as a share of the total population; the growing sophistication of the mainstream population in terms of their acceptance of and desire for Hispanic food culture; and the creative efforts of Hispanic foods marketers to fulfill consumer desire.
Sales and market size data sources include:
- IRI sales tracking through U.S. supermarkets and grocery stores, drugstores, and mass merchandisers (including Target, Kmart, and Wal-Mart) with annual sales of $2 million or more.
- In addition, the report draws on data from the Spring 2016 Simmons NCS Adult Study 12-Month.
- National Consumer Survey, conducted in July-August 2016 with a sample size of 2,000 U.S. adults age 18+.
Key Topics Covered:
Chapter 1 Executive Summary
Scope of This Report
Products Outside Scope
A Note about Nomenclature
Methodology
The Market for Hispanic Foods and Beverages
Market Trends
Race for the United States, Number in Thousands and Percent: 2015 to 2060
The Competitive Environment
Retailer Environment
Foodservice Environment
New Products and Trends
The Consumer
Chapter 2 Market Trends
Key Points
Growth and Change in Population as a Market Factor
Hispanic Influence on U.S. Food and Beverage Market Continues to Grow
Hispanics Will Account for a Quarter of Total U.S. Population by 2050
Race for the United States, Number in Thousands and Percent: 2015 to 2060
Dynamics of the Hispanic Population
Consumers of Hispanic Foods and Beverages Are Wide and Varied
Disparities Among Hispanic Millennials
Mexico Accounts for Two-Thirds of U.S. Hispanics
Central American Population Grows Fastest, Mexican Grows the Most
U.S.-Born Latinos Spark Hispanic Population Growth
Hispanic Population Growth, 2006-2014
But Acculturation Leading to Lower Birth Rates
Changing Language Skills
Differences in Acculturation Have Many Implications
Maintaining Hispanic Culture: By Acculturation Segment, 2015
Hispanics’ Buying Power a Significant Force in the Economy
Households: By Expenditure Category, 2012 vs. 2015
Expenditures on Food at Home Show Modest Gain
vs. Non-Hispanic Households, 2012-2015
Hispanic Buying Power on the Rise
Hispanic Food Insecurity
What Are Hispanic Foods and Beverages?
Common Hispanic Foods and Beverages
Driving the Market
Free From’ Foods Expanding
Organics on the Rise
100% Natural
Ancient Grains
Market Size and Growth
Hispanic Food and Beverage Sales Top $17 billion in 2015
Most Categories Exhibit Solid Growth
Hispanic Cheeses
Hispanic Beverages
Non-Alcoholic Beverages
Coffee
Beer
Wines and Spirits
Future Market Growth
Market Forecast
Hispanic Foods and Beverages Top $21 Billion by 2020
2016-2020 (in millions)
Beverage Categories Gain Share
Several Trends Will Influence Hispanic Food and Beverage Development
