Hispanic trade show opens doors in Texas

Expo Latina Comida Texas​ opened its doors yesterday to around 2000 attendees from the retail, foodservice and distribution segment, as well as some 120 food and beverage manufacturers who were exhibiting new and existing products targeting the growing US Hispanic population. The event, which continues today at the George R. Brown Convention Center in Houston, aims to explore new ideas, products and ingredients in this category. Rapid growth in the nation's Hispanic population has spurred the emergence of a separate category of food and beverage products developed to cater to the individual taste preferences of this consumer group. US Census Bureau data reveal that there are currently 41.3 million Hispanics living in the US. Hispanics are forecast to account for 24 percent of the nation's 394m population by the year 2050. With this population growth has also come substantial buying power. According to estimates by Hispanic Telligence, based on an analysis of US Bureau of Economic Analysis figures, the Hispanic purchasing power between 1994 and 2004 revealed a compound annual growth rate of 7.7 percent- nearly three times the 2.8 percent total US rate of disposable income. In 2005, Hispanic buying power totaled $768bn. According to Diversified Business Communications, which organizes Expo Latina Comida​ shows, these are the "largest and only"​ events of their kind to take place in the US. Launched five years ago in Los Angeles, Expo Latina Comida​ expanded to New York and then to Texas. The event now takes place three times yearly in these three locations. The primary goal of the show is to bring together manufacturers of Hispanic food and beverage items with distributors and retailers. However, according to Brian Randall, vice president of Diversified Business Communications' Cultural Food Group, the event is also a key location for manufacturers looking for new ideas. For example, he said, General Mills R&D is expected to attend in order to find new ingredients suitable for this market. These could include spices, herbs, tortilla, or certain fruits or vegetables suited to Hispanic tastes. The event also features a number of education sessions designed to provide insight into the market. These include sessions on how to launch new products and how to do business in the US market, including an examination of labeling requirements and regulations. One speaker at the event is Cadbury Schweppes' Hispanic Marketing brand manager, Stephanie Bazan, who will discuss the new marketing strategies that are being developed for the firm's brands and how they are specifically targeting the Hispanic market.​ As well as taste preferences, another important issue that food and beverage manufacturers developing products for Hispanics need to take into account are the individual health needs of this consumer group. Hispanics are twice as likely as Caucasian Americans to develop diabetes, according to the American Diabetes Association. Two million Hispanics currently suffer from diabetes, while over 60 percent are classed as overweight. This "genetic predisposition"​ to health has prompted a number of nutrition groups to encourage good eating habits designed specifically for this segment of the population. Indeed, one nutrition organization, Oldways - which has since founded the Latino Nutrition Coalition (LNC) - recognized the need for separate guidelines for Hispanics in the late 1990s, when it established a dietary pyramid for Latinos.