With consumers expecting new flavors that broaden their culinary horizons, many manufacturers need only look south, though admittedly fairly far south -- to the spicy and sweet cuisines of Latin America and the Caribbean.
Clearly, Latin and Caribbean cuisine is not solely tailored for U.S. Hispanics. The popularity of these flavors and influences crosses many borders and demographics; however, the growth of the Hispanic population in the U.S. cannot be undervalued in explaining at least some of the rise in popularity of these flavors. It is, after all, the fastest growing consumer group in the nation.
The U.S. Census Bureau notes there are more than 52 million Hispanics in the country. This number is expected to reach 132.8 million by 2050, representing more than 30% of the entire U.S. population. Economically, this group already has tremendous influence. U.S. Hispanics had an estimated $1.2 trillion in purchasing power in 2012, and it is expected to surpass $1.5 trillion by 2015.