bake - September/October 2024 - PAN37

in its respective metro area.
Here are 11 facts about the U.S.
Hispanic population, its origin groups
and how those groups differ from one
another. This analysis is based primarily
on data from the U.S. Census Bureau's
2021 American Community Survey.
Eight Hispanic origin groups had
at least 1 million people living in the
U.S. in 2021. The five largest Hispanic
populations in the U.S. by origin
group were Mexicans (37.2 million),
Puerto Ricans (5.8), Salvadorans
(2.5), Dominicans (2.4) and Cubans
(2.4). The other three origin groups
with populations over 1 million were
Guatemalans (1.8 million), Colombians
(1.4) and Hondurans (1.1).
Venezuelans, Dominicans and
Guatemalans are the fastest-growing
Hispanic origin groups. Between 2010 and
2021, the Venezuelan population in the
U.S. increased by 169%, from 240,000 to
640,000. This was by far the fastest growth
rate among Hispanic origin groups.
Dominicans and Guatemalans had the
next-fastest growth rates at 60% each.
EXPANDING FRESH
The Food Marketing Institute's 2024
consumer-focused reports on fresh
categories underscore how much shoppers
are focused on price.
Food retailers are actively looking
to expand space for various fresh or
perimeter departments in the next two
years. This includes additional space for
fresh prepared foods, particularly graband-go,
- with those space expansion
plans just slightly lower than a year
ago. These findings and the retailer
comments below underscore how fresh
is responding to convenience as a key
consumer trend.
According to the FMI survey, 25% of
retailers plan to increase space allocated
to instore bakery in the next two years.
Consumer trends including
The webinar dove into insights
convenience, health and well-being,
local, and a desire for positive experiences
are influencing food retailer and supplier
strategies in fresh and other parts of
their businesses. Fresh departments
are driving many of the most effective
retailer product differentiation strategies.
Among key differentiation strategies used
in 2023:
97% sold local assortments
throughout the store.
88% operated foodservice programs.
86% of retailers emphasized
community support/community ties.
84% leveraged private brand programs.
70% operated frequent shopper programs.
PURCHASE DRIVERS
In a recent webinar hosted by Baking
& Snack, industry leaders examined the
drivers of this new product innovation, as
well as the challenges manufacturers still
face in this area.
from Baking & Snack's State of the
Baking Industry: Product Innovation
& Development study, conducted by
Cypress Research. The study surveyed
111 baking industry professionals -
including many R&D professionals
- on the importance of new product
development, the challenges R&D
teams face and their focus when it
comes to new products. The study was
also conducted in 2022 to examine
the impacts of the pandemic on new
product development.
New product innovation was broken
into three categories: Invention,
Innovation and Renovation. Invention is
described as a truly breakthrough product
development that typically involves
introducing a new brand or processing.
Innovation is a new product within
an existing brand, and Renovation is a
product reformulation within an existing
brand or category.
PANADERÍA | OCTOBER 2024
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