Facts & Forecasts

America is changing in profound ways. Ethnic and cultural markets are increasing at record rates with their purchasing power soaring right alongside that growth..and our tastes are as varied and as various as ever.

Fact is, between the current figures and forecasts, there's never been a better time to be in the specialty foods business. See for yourself...

Population growth:

• 14.4%: The 43 million Latinos living in the U.S. currently account for 14.4 percent of the total population. Between 2000 and 2005, the Hispanic population grew nearly seven times faster than the non-Hispanic population (21 percent compared to a 3 percent). (Source: Kagan Research)
• 50%: By 2050 minorities will account for half of U.S. residents (Source: US Census Bureau)
• 1 in 3: About 1 in 3 Americans is a minority (Source: The University of Georgia's Selig Center for Economic Growth)
• 25%: By 2050, there will be 100 million Hispanics accounting for 25% of the population (Source: USDA)
• 56%: Natural increase is now more important than immigration as a driver of the population growth, with births accounting for 56 percent of growth between 2000 and 2005. (Source: Packaged Foods, 2006)
• 67.5%: The US Hispanic population grew by 67.5 percent between 1990 and 2002, compared to 8.1 percent for the non-Hispanic population, with the population now standing at 38.8 million. (Source: Mintel International Group)

Purchasing power:

• $1.9 trillion: Between 2006 and 2011, the spending power of the country's African-Americans, Asians, Native Americans and multiracial shoppers is expected to grow 38% to $1.9 trillion. (Source: The University of Georgia's Selig Center for Economic Growth)
• $1.2 trillion: Between that same time period (2006-2011), Hispanic buying power alone is projected to grow a formidable 48 percent to $1.2 trillion. (Source: The University of Georgia's Selig Center for Economic Growth)

Demand for specialty foods:

• $75 billion: The U.S. ethnic foods market is estimated to generate $75 billion in annual sales. It is the equivalent of $1 out of every $7 being spent on groceries. (Source: Mintel International Group)
• 75%: 75% of the sales generated by ethnic foods come from mainstream customers. (Source: Agri-Food Trade Service)
• 50%: The ethnic food market in the U.S. is expected to grow by 50% over the next decade. (Source: Agri-Food Trade Service)
• 73%: 73% of consumers report purchasing specialty foods in 2007, compared to 64% in 2006. (Source: Mintel International Group)