Latin Is the Fastest Growing Ethnic Food
Packaged Facts, part of MarketResearch.com, said Tuesday that the foodservice market for Latin foods was worth $18 billion in 2005. The U.S. market for Hispanic foods is evolving and growing and it could be worth $25 billion by 2015.
Latin food has come a long way from bean burritos and Spanish rice. Latin is the fastest-growing ethnic food category in the U.S. Latin is second in total sales only to Asian, Packaged Facts said in a news release. "And the general agreement among restaurant industry analysts is that growth in both Latin dining establishments and Latin menu items will escalate -- with more than a little help from the growing buying power of Hispanics, which is expected to reach $1 trillion by 2010."
Latin-themed quick-service restaurants have been growing twice as fast as other quick-service restaurants overall. In non-commercial, onsite and institutional foodservice, 67 percent of operators now menu Latin foods, a trend that was barely visible five years ago.
