US Hispanic Consumer Snacking Trends 2023

Overview

• What you need to know
• This Report looks at the following areas:
• Definition
• Market context

Executive Summary

• Top takeaways 
• Market predictions
  • Figure 1: Hispanic consumer outlook, 2023-28
• Consumer trends and opportunities
• When it comes to buying snacks, Hispanics expect great flavor first and foremost
  • Figure 2: Snack purchase drivers, 2023
• Hispanics snack at all times of day; hunger and cravings are primary motivators, but interest in health is growing
  • Figure 3: Motivations by daypart, 2023
• Consumers gravitate toward snacks for various reasons including convenience; they show a great interest in reassurances
  • Figure 4: Snacking motivations – Any time, 2023
• Opportunities for brands offering functional ingredients and health-focused formulations
  • Figure 5: Snacking innovations, 2023
• Competitive strategies
• Culturally inspired snacks can provide consumers with both nostalgia and novelty
  • Figure 6: Nemi Snacks Facebook post, 2023
• Extending snack use and occasions makes the case for purchase amidst economic uncertainty
  • Figure 7: Doritos Flamin’ Hot Nacho tacos Instagram post, 2023
• Create moments of joy by allowing pets to join the fun
  • Figure 8: Ben & Jerry’s Pontch’s Mix Instagram post, 2022

Hispanics by the Numbers

• Hispanics are a vastly diverse demographic
• A young and growing population
  • Figure 9: US population, by race and Hispanic origin, 2016-26
  • Figure 10: Hispanic share of US population, by age, 2021
• Significant buying power despite lower incomes
  • Figure 11: Median household income, by race and Hispanic origin of householder, 2020

Market Factors

• Increasing consumer spending and confidence buoys Hispanics through uncertain financial times
  • Figure 12: Disposable Personal Income change from previous period, 2007-23
  • Figure 13: Consumer Sentiment Index, 2007-23
• Hispanics – like the overall population – will be more judicious with their spending to hedge against fluctuating prices and economic unknowns
  • Figure 14: Consumer Price Index change from previous period, 2007-22

Current Opportunities and Strategies

• Meeting consumer needs through the lens of the Identity Trend Driver
• Snacks from Latin American cultures can leverage emotional ties with Hispanic consumers
  • Figure 15: Attitudes toward snacking – Any agree, 2023
• • Figure 16: Nemi snacks Facebook post, 2023
• Meeting consumer needs through the lens of the Value Trend Driver
• Communicate value by helping them cook with what they have
  • Figure 17: Doritos Flamin’ Hot Nacho tacos Instagram post, 2023
• Meeting consumer needs through the lens of the Wellbeing Trend Driver
• Create moments of joy by allowing pets to join the fun
  • Figure 18: Ben & Jerry’s Pontch’s Mix Instagram post, 2022

Snacking Trends – Fast Facts

Snack Consumption

• Hispanics reach for both salty and sweet snacks
  • Figure 19: Types of snacks consumed in the past three months, 2023
• Opportunity to create a salty and sweet snacking ritual with mix offerings
  • Figure 20: Brands featuring snack mixes, 2023
• To grow frequency of purchases with Hispanics, look at the culture and language they relate with most
• Relatable storylines for different generations that celebrate the challenges and joy of language: spotlight on McDonald’s and ALMA
  • Figure 21: McDonald’s “Tio Roberto” YouTube video, 2018
• Throwback: reinventing campaigns from the past for today’s market
  • Figure 22: Silk nextmilk Instagram post, 2023
• Convenience counts for parents
  • Figure 23: Consumption of ready-to-eat snack cakes in the past three months, parents with children under-18 at home vs overall, 2023
• Popcorn has room for further entrenchment, especially through moms
  • Figure 24: Consumption of popcorn, mothers with children under-18 at home vs overall, 2023
• Frozen treats and chip formats like Cheetos or tortilla chips are primed for expansion with Gen Zs
  • Figure 25: Consumption of frozen treats and chip formats like Cheetos and tortilla chips, Gen Z vs overall, 2023
• • Figure 26: Doritos and Xbox partnership Instagram post, 2022
  • Figure 27: Frozen treat examples, 2023

Frequency of Snack Consumption

• The bulk of Hispanics snack 2-3 times per day
  • Figure 28: Snacking frequency per day, 2023
• A sizeable number have increased their snacking in the past year
  • Figure 29: Self-reported change in snacking consumption compared to a year ago, 2023
• • Figure 30: Post Cereal Pop Fruity Pebbles Popcorn, 2023
  • Figure 31: Jeni’s ice cream collaboration with Ted Lasso Instagram post, 2022
• Tie snacks to meals to complete a plate
  • Figure 32: Herr’s Sandwi-chips Instagram post, 2023

Snacking Motivations

• Hunger and cravings are primary motivators for snacking
  • Figure 33: Snacking motivations – Any time, 2023
• Snacking priorities change throughout the day
  • Figure 34: Motivations by daypart, 2023
• Mothers and fathers have different motivations for early morning snacking
  • Figure 35: Motivations for snacking – Early morning, mothers vs fathers with children under-18 at home vs overall, 2023
• Snacks that are entertaining would make a positive addition to late-night routines of 18-34 year old men
  • Figure 36: Motivations late-night snacking, men 18-34 vs overall, 2023
• • Figure 37: Frank’s RedHot Fortnite game Instagram post, 2023

Snack Purchase Drivers

• Flavor dominates as the top consideration when choosing a snack
  • Figure 38: Snack purchase drivers, 2023
• • Figure 39: Brands featuring variety packs, 2019-23
• Over half of Hispanics are OK with compromising on health if it means indulging in a good-tasting snack, especially men and fathers
  • Figure 40: Taste is more important than health when eating snacks – Any agree, gender vs parental status vs overall, 2023
• Help parents help their children with mental health struggles
  • Figure 41: Parents’ attitudes toward snacking, 2023
• • Figure 42: M&M’s Flipping the Status Quo Campaign Instagram post, 2023

Interest in Snack Innovations

• Opportunities to attract Hispanics through functional ingredients
  • Figure 43: Snacking innovations, 2023
• Consider leaning into gut health
  • Figure 44: Brainiac Brain Bars Instagram post, 2023
• Mood-boosting attributes matter to women
  • Figure 45: Interest in mood-boosting innovations, women vs men, 2023
• • Figure 46: Toodaloo Instagram post, 2022
  • Figure 47: Whole Foods partnership with Headspace Instagram post, 2021
• Fathers show significant interest in sustainably sourced ingredients
  • Figure 48: Fathers’ interest in sustainably sourced ingredients, fathers with children under-18 at home vs overall, 2023
• • Figure 49: Toast Ale Instagram post, 2023
• Heart health is of key interest to those aged 55+
  • Figure 50: Interest in ingredients supporting heart health, 55+ vs overall, 2023
• • Figure 51: Sprouts Farmers Market Instagram post, 2023

Appendix – Data Sources and Abbreviations

• Data sources
• Consumer survey data
• Abbreviations and terms