Market Research Report
Hispanic Foods and Beverages in the U.S., 6th Edition
|Published by||Packaged Facts||Product code||53929|
|Published||Content info||182 Pages
|Hispanic Foods and Beverages in the U.S., 6th Edition|
|Published: October 4, 2016||Content info: 182 Pages||
Over the past 50 years, the minority populations of the U.S. have been increasingly integrated into the mainstream of American culture. Food has been an important point of contact and integration, especially for Hispanics who have, through these last five decades, contributed tortillas, tacos, burritos, salsa and more into the kitchens of mainstream consumers, as well as onto the menus of all types of restaurants.
Packaged Facts estimates that Hispanic foods and beverages have clearly become a part of the mainstream for at least a third and perhaps as much as half of the total population, and they are a familiar presence for about another third. The remaining block of consumers, 20% to 30%, has either not shown an interest in stepping outside their comfort zone when it comes to trying new foods or have outright rejected the tastes and textures associated with Hispanic foods.
Marketers of Hispanic foods and beverage aim to remain competitive by providing those already accepting their products with new taste experiences, especially that have the aura of authenticity. In addition, they are seeking ways to integrate their products into the other trends, especially the growing demand for "free from" foods, which are important to consumers already favoring their products and those consumers that are just beginning to discover Hispanic cuisine. Further, the marketers are offering milder, more mainstream versions of their products to those consumers still wary of their products.
Packaged Facts new report Hispanic Foods and Beverages in the U.S., 6th Edition, covers the efforts these marketers are making as well as what currently appeals to consumers. The report projects that sales of Hispanic foods and beverage 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 American population, 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 new dining experiences; and the creative efforts of the marketers to fulfill consumer desire.
Hispanic Foods and Beverages in the U.S., 6th Edition covers consumer likes and dislikes about these products and how marketers are moving to meet their concerns. Categories addressed in the report include tortillas, tortilla chips, salsa, taco kits, sauces and spices, non-alcoholic beverages, Hispanic coffees and alcoholic beverages, among others.
Market estimates within this report were based on both public and syndicated data sources. Packaged Facts has analyzed available sales and trend data, together with information pertaining to those products that move through unmonitored outlets, to estimate the total size of the market for the products in the categories under consideration.
Sales and market size data sources include:
Information on new product introductions was derived from examination of the retail milieu and from relevant trade, business, and government sources, including company literature and annual reports. Company websites, Facebook, and Twitter pages served as sources for new advertising and marketing images and messaging.
Information on new product introductions was derived from examination of the retail milieu and from relevant trade, business, and government sources, including company literature and annual reports.