The Hispanic marketplace has become the most important U.S. demographic growth driver in the food, beverage and restaurant sectors, according to data from Hispanic market research firm Latinum Network. Demographic trends indicate Hispanics should continue to be a dominant consumer segment in the food, beverage and restaurant sector for years to come, according to Latinum. Total U.S. Hispanic household spending is expected to top $1 trillion by 2013, and with stable birth rates, household spending in this demographic should continue climbing until 2050. It is for this reason that we are focusing this issue of the Food Digest on the Hispanic marketplace.
I recently attended the Expo Comida Latina Convention held in San Diego, California. Over 300 companies from all over the U.S. and from other countries attended the convention, exhibiting their products to other vendors and customers with the goal of generating commerce. I spent time with several companies discussing their business philosophy on the importance of conducting business in the Hispanic marketplace as well as competition and the various barriers to entry.
Learn more about the challenges in doing business in the Hispanic marketplace, barriers to entry and expansion opportunities.