Latin Foodservice Market Heating Up to $25 Billion by 2015

“Mall Mexican is out! Nuevo Latino and fusion are in…as are Peruvian, Guatemalan, Dominican, and Bolivian. Foods that five years ago were unheard of except in immigrant households are taking foodservice by storm. And the potential to drive Latin foodservice sales to $25 billion by 2015 is very real, according to Latin on the Menu: The U.S. Foodservice Market for Hispanic Foods, the latest market research from Packaged Facts. According to the report, the foodservice market for Latin foods was worth $18 billion in 2005. The fastest growing ethnic food category, Latin is second only to Asian. And the general agreement among restaurant industry analysts is that growth in both Latin dining establishments and Latin menu items will escalate-with more than a little help from the growing buying power of Hispanics, which is expected to reach $1 trillion by 2010.”

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