The U.S. Census Report of 2010, that has not released final numbers, is expected to show that one-in-six U.S. residents are of Hispanic descent according to Advertising Age. This translates into 50 million Hispanics residing in the U.S. making this demographic now the SECOND largest consumer market in the U.S. behind non-Hispanic whites. The Census estimate before it took the census was at 48.4 million.
The Hispanic demographic profile is young, married with traditional values and a close-knit family present. Approximately 17 million Hispanics are under the age of 18. All Census estimates puts the Hispanic population and market growth at a 42% increase from ten years ago when the last Census was taken in 2000. The Hispanic population had soared from 1990 to 2000 Census by 58% making this the fastest growing minority and the largest at 12.5% of the U.S. population
Advertising Age and others predict the Hispanic population at current levels and with continued growth will be one of the largest consumer-spending motivators over the next 10 years.