UPI:
The U.S. market for
Hispanic foods is evolving and growing and it could be worth $25 billion by 2015, a
study has found.Packaged Facts, part of MarketResearch.com, said lately that the foodservice market for Latin foods was worth $18 billion in 2005.
The fastest growing ethnic food category, Latin is 2nd 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.’
Packaged Facts‘ insights are based on a study that it is selling for $3,000.
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% of operators now menu Latin foods, a trend that was barely visible 5 years ago.
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