Hispanic Market Holds Potential for Beef Industry

Hispanics represent a growing market and could very likely affect future demand for beef in the United States, according to a recent checkoff-funded report.  The report’s findings come primarily from the U.S. Census Bureau and a separate 2001 study.  According to the report, the Hispanic population is expected to grow by 202 percent from 2000 to 2050, and is projected to grow by more than 11 million from 2000 to 2010.  By comparison, Asian and black ethnic groups are expected to grow less than 4 million each, and the white, non-Hispanic population is expected to increase by only 5 million.  By some estimates Hispanics will soon become the largest minority group in the country.

Hispanics also have different demographic characteristics and require different marketing messages, the report stated.  The group is younger, with larger households than other markets.  They also make less money and are more likely than the general population to have a female-headed household.  Nearly one-half of the Hispanic population is under the age of 25.

One-half of all Hispanics in the U.S. today live in either California or Texas.  One quarter of the Hispanic population is located in seven metropolitan areas in California.

Buying power for Hispanic households has increased dramatically and is increasing at a much greater rate than the population in general.  Hispanic households spend 25 percent more for food at-home than non-Hispanics.