2023
9
US Hispanic Consumer Snacking Trends Market Report 2023
2023-05-05T04:00:42+01:00
OX1157849
3695
163079
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Report
en_GB
“Hispanic consumers gravitate to snacks for reasons beyond hunger and seek an indulgent experience that delivers great flavor quality. Brands need to lead with flavor first in order to appeal…

US Hispanic Consumer Snacking Trends Market Report 2023

£ 3,695 (Excl.Tax)

Description

“Hispanic consumers gravitate to snacks for reasons beyond hunger and seek an indulgent experience that delivers great flavor quality. Brands need to lead with flavor first in order to appeal across segments but need to maintain excitement amidst economic uncertainty. Ultimately, sweet and savory snacks have room to grow within Hispanic snacking repertoires as long as they provide winning flavors.”
– Stefanie Kundakjian, Multicultural Consumer Insights Analyst, Hispanic Focus

This Report looks at the following areas:

  • Types of snacks consumed
  • Snacking frequency and occasions
  • Snacking motivations and purchase drivers
  • Interest in snack innovations

Table of Contents

  1. 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

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