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Hispanic Spending Buoys Otherwise Stagnant Food And Beverage Industries

April 8, 2010: 12:11 AM EST
Hispanics account for more than 50 percent of the real growth in the food, beverage and restaurant sectors between 2005 and 2008, according to market data from Latinum Network. Inflation-adjusted Hispanic spending totaled $52 billion in that period, outpacing $40 billion of new spending by non-Hispanics. Latinum said the main reasons for the spending boost were the increase in the number of U.S. Hispanic households and an increase in consumer spending among U.S. Hispanics. In the $1 trillion food, beverage and restaurant business, new Hispanic spending more than made up for the decline in demand. Latinum also found that Hispanics created more than $9 billion in new value in otherwise dormant or declining categories such as fish and seafood, fresh fruit juice and dairy products between 2005 and 2008
"U.S. Hispanics Propel Real Growth In Food, Beverage And Restaurant Sectors, According To Latinum Network", Latinum Network, April 08, 2010, © Latinum Network
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