U.S. Hispanic Snapshot
The U.S. population is becoming more racially diverse. As ethnic populations increase their proportions of the total population, the non-Hispanic White population proportion is decreasing. This growth in ethnic Americans is being led by Hispanics. According to middle-series Census projections, the Hispanic-origin population will contribute 45 percent of the Nation's population growth from 2010 to 2030, and 60 percent from 2030 to 2050. By 2050, the proportional share of non-Hispanic whites could drop below 50%. The approximate 48 million U.S. Hispanics are
younger, healthier and more likely to have children than the overall population.
According to Global Information's latest market research report, "Share of Wallet: Hispanics - US" by Mintel International Group Ltd, Hispanic purchasing power in the
The U.S. Hispanic market is growing faster than the purchasing power of any other group. Research and analysis shows that Hispanic families overspend on groceries compared to non-Hispanics. Moreover, Hispanics also spend more on telephony than any other group in the US. Purchasing power among the diverse Hispanic population is currently valued at approximately $1 trillion. The economic profile of a Hispanic consumer is dynamic and having Hispanic consumer insights is more important than ever. What's more is that Hispanic household spending deeply influences sectors such as apparel, footwear, telecommunications, and food & beverage. These industries have created entire initiatives and business models around productstailoring to the Hispanic household.