Hispanic Market

The Hispanic market is America's fastest growing market segment. According to multiple sources, Hispanics represent $1.7 Trillion in purchasing power in 2018 and will represent 30% of the United States population by 2050. Additionally, Hispanic small businesses are growing at twice the rate of the national average – generating over $400 Billion in annual revenues (that some estimate is closer to $650 Billion). Yet this powerful demographic continues to be ignored by mainstream leadership in business and government.

Hispanics represent almost 18% of the U.S. population, nearly 57 million strong, and they’re expected to continue showing growth. Hispanics will drive the majority of all U.S. future growth for the foreseeable future.

The U.S. Census projects Latinos to account for a full 65% of the nation’s population growth over the next 45 years. This means the U.S. Latino population will more than double, adding 62 million people, and will reach more than 119 million people by 2060.

Recent statistics show that over 80 percent of Latino-owned businesses sell to the complete domestic market and not just to Hispanics.

Over 50% of Hispanics are bilingual, especially the younger generations, however, it is important to note that Spanish is still spoken by many English-dominant speakers. With the growing importance of Spanish, marketers will need to be competent in dual-language marketing.