USA Hispanic Market

11% OF TOTAL USA PURCHASING POWER

Mexican foodHispanic Market

The Hispanic market constitutes 16.7% of the total US population. The estimated Hispanic population of the US is as of July 2011 is about 52 million people (not including the 3.7 million residents in Puerto Rico). The projected Hispanic population of the US on July 2050 will be 132.8 million. According to this projection, Hispanics will constitute 30% of the total US population.

Today 1 of every 6 Americans is a Hispanic. Only Mexico (112 million) has a larger Hispanic population than the US.

 

US Hispanic estimated purchasing power is $1.2 trillion in 2012.

Despite markedly lower average income levels, Hispanic households spent more on telephone services, men’s and boys’ clothing, children’s clothing, and footwear. Also, Hispanics spent a higher proportion of their money on food (groceries and restaurants), housing, utilities, and transportation.

The ten states with the largest Hispanic markets, in order, are California ($253 billion), Texas ($175 billion), Florida ($101 billion), New York ($76 billion), Illinois ($43 billion), New Jersey ($37 billion), Arizona ($31 billion), Colorado ($21 billion), New Mexico ($18 billion), and Georgia ($15 billion).

The number of Hispanic-owned businesses in the United States increased by 43.6 percent to 2.3 million, more than twice the national rate of 18.0 percent between 2002 and 2007.  About 45.8 percent of all Hispanic-owned businesses are owned by people of Mexican origin.

Hispanics account for 9.8 billion restaurant visits per year.

 




 

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