Latin American Snacks

Part
01
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Part
01

Growth - Latin American Snacks

From our calculations, the approximate market sizes for Latin American snacks in the United States were about $519.06 million and $2.35 billion in 2012 and 2018, respectively. Although our calculations should be treated as estimates, the findings indicate that the U.S. market size for Latin American snacks grew exponentially in the years prior to 2019. Below are more details on our triangulation, assumptions, and findings.

Methodology

Initially, we began the research the growth rate of the United States market size for Latin American snacks prior to 2019 by searching through market research companies such as Mintel, Plunkett Research, MarketsandMarkets, Pew Research, Grand View Research, and MarketDataForecast, among others. We also searched through statistics sites such as Statista and for any academic research on the subject. While there were yearly/historical statistics for the U.S. food and beverage market size and the U.S. snack market size, there was nothing on either the growth rate for the market size for Latin American snacks or the yearly market size for Latin American snacks.

Next, we searched through credible media resources such as Forbes and Reuters and for press releases by sites such as PRNewswire. We also explored credible industry publications such as PackWorld, BakeryandSnacks, Food Navigator USA, and Food Business News, among others. Our aim was to find reports on research on the topic. Again, our efforts were fruitless as our strategy only produced information on the trends in the U.S. Hispanic food and beverage market.

Our third strategy was to find data that we could use to triangulate the required information. Our starting point would have been to use the annual sizes for the Latin American snacks market in the United States to determine the growth rate but, as indicated in a related Wonder brief, there was no readily available information on the subject. We then decided to use the available data points to first calculate the annual market sizes for the Latin American snacks market in order to calculate the growth prior to 2019.

In the course of our research through the aforementioned resources, we found reports providing statistics for the Hispanic food and beverage market size, the U.S. food and beverage store sales, and the U.S. snack market size. We used the data for the Hispanic food and beverage market size because we discovered that the terms 'Hispanic' and 'Latino' are used interchangeably for the United States food industry, which would explain the absence of statistics for the Latin American food and beverage market size. Although the assumptions that the Latin America and Hispanic markets are proportionately equal is not fully accurate, using the statistics for the Hispanic market is the closest we could get to calculating Latin American snack data.

Additionally, the data for sales in food and beverage stores has been used instead of the overall U.S. food and beverage market size because stores would be the most likely channels for selling/buying snacks, and the overall statistics would have been too broad since they include data for products sold at restaurants and groceries.

We chose to calculate and provide the approximate growth rate for the U.S. market size for Latin American snacks from 2012 to 2018 due to the availability of data for the calculation of the market sizes for the two years.

Calculations

2012

Reports from both Food Navigator USA and Food Business News state that the Hispanic food and beverage market was about $8.2 billion in 2012. According to YCharts, the U.S. food and beverage store sales was $627.34 billion in 2012. We have provided a screenshot of the YCharts statistics since it required setting up an account. According to an analysis by the Canadian Agribusiness department, the U.S. snack industry was worth about US$39.74 billion in 2012.

Therefore, the approximate market share of the snacks' industry in the United States = the U.S. food and beverage store sales / the U.S. snack industry market = US$39.74 billion / $627.34 billion =6.33%.

Then, using the market share for snacks (6.33%) and the overall size of the U.S. Hispanic food and beverage market in 2012 ($8.2 billion), the approximate market size for Hispanic snacks (or Latin American snacks) can be calculated to be about $519,060,000 ($8,200,000,000 x 0.0633).

2018

According to ResearchandMarkets the Hispanic food and beverage market in the United States was $17.5 billion in 2015 growing at a CAGR of 3.8% through 2020. With the assumption that the CAGR remained steady for the entire forecast period, the estimated market size for each year between 2016 and 2018 can be calculated as follows:
2016= 1.038 X $17,500,000,000 = $18,165,000,000
2017= 1.038 X $18,165,000,000 = $18,855,270,000
2018 = 1.038 X $18,855,270,000 = $19,571,770,260

According to Plunkett Research, the U.S. food and beverage store sales was $742.5 billion in 2018. Also, the United States snack industry was worth about $87 billion in 2018, according to Packaging Strategies.

Therefore, the approximate market share of the snacks' industry in the United States = the U.S. food and beverage store sales / the U.S. snack industry market = $87 billion/$742.5 billion X 100= 11.7%, rounded off to 12%.

Then, using the market share for snacks (12%) and the overall size of the U.S. Hispanic food and beverage market in 2018 ($19,571,770,260), the approximate market size for Hispanic snacks (or Latin American snacks) can be calculated to be about $2,348,612,431 ($19,571,770,260 x 0.12).

Percentage Growth

To calculate the percentage growth of the Latin American snacks market from 2012 to 2018, we take the approximate 2012 market size for Hispanic snacks as the base (100%) figure. Therefore, if $519,060,000 (2012) = 100%, then $2,348,612,431 (2018) would be =

$2,348,612,431/$519,060,000 X 100 = 452.47% overall or28.61% CAGR

Part
02
of four
Part
02

Latin American Snacks- Demographics

Consumers purchasing Latin American snacks in the United States are likely to be millennial women living in the Western and South Central regions of the United States earning about $35,592 annually. Below is an explanation of our methodology. Our triangulation strategies are explained in each criterion's respective section.

Methodology

To determine the gender, age, income, and location of consumers purchasing Latin American snacks in the U.S., our research began by searching through research resources including Mintel and MarketsandMarkets, statistics sites such as Statista, news resources including Forbes, CNN, and Reuters, and business-oriented media resources such as Business Daily. Second, we searched for any academic research or journals on the subject as well as through consumer survey resources such as Simmons and Latino food/snack-oriented blogs such as Mondelez International and Abasto.

Our research revealed information on the race and age of consumers purchasing Latin American snacks in the United States. We also determined the regions in which Latino cuisines and snacks are most popular in the United States. Data on the location of the majority of tortilla consumers, which is among the most popular Latin American snacks, correlated the garnered information on the location of the majority of Latino snack consumers.

We then searched the aforementioned resources for any information on the income and gender of consumers of Latino snacks in the United States. However, there was no further breakdown of the demographic. Therefore, our last resort was to triangulate using the available data in order to provide assumptions of income and gender of the consumers of Latino snacks in the United States — as explained in their respective sections. Notably, 'Hispanic' and 'Latin America' are used interchangeably.

Useful Findings

Age

A Food Business News study states that "multicultural Hispanics and non-Hispanic millennials" are the largest consumers of Latin American. According to a 2017 research by VRTC, Hispanics, especially millennials who make up about 50% of Hispanic consumers, are the largest consumers of Latin American snacks in the United States. Additionally, collaborative studies by Technomic and J.M. Smucker U.S. concluded that at 63%, the interest in purchasing Latin American snacks among millennials is the highest in the country. Gender aside, it is evident that the millennial generation makes up the largest population of consumers of Latin American snacks in the United States.

Location

According to Technomic, et al., 51% of consumers in the Western region of the United States are interested in purchasing Latin American snacks. While the Hispanic demographic is not a homogeneous one, research shows that Mexican snacks (especially tortillas) are the most popular Hispanic snacks in the United States, with over 110.7 million consumers in 2017 alone. Studies show that Mexican snacks are most popular in the Western (especially California) and South Central (especially Texas) regions of the United States. This can be explained by the relatively large Latino presence in the two regions: 15.2% in California and 10.7% in Texas. Combining these data sets, we can conclude that Hispanic snacks are most popular among consumers in the Western and South Central regions of the United States.

Income

Having found that the majority of Latin American snacks purchasers in the United States are millennials, it is feasible that the average income of U.S.-based millennials would be a viable representative of the average income of the demographic that purchases Latin American snacks in the country. According to Pew Research, the average income of U.S. millennials is $35,592.

Gender

While the used resources as well as many that we searched through do not provide any breakdown of Latin American snacks consumption in the U.S., a 2017 academic study showed that women (28.5%) in the millennial age bracket consume more snacks than men (17.8%) in the same generation. Logically, this applies to consumers of Hispanic snacks since they were encompassed in the study.
Part
03
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Part
03

Top Latin American Snacks

Grupo Bimbo, Gruma, and Herdez are some brands/companies that produce Latin American snacks for sale in the US. Grupo Bimbo, Mexico City, is gaining a foothold with its Mexican brands such as Takis, a corn chip produced by Grupo Bimbo subsidiary Barcel USA. The annual revenue of Grupo Bimbo, Barcel USA is 76,309.2 million Mexican Pesos ($4,064.05 million), Gruma $3.7 billion, and Herdez has the estimated annual revenue of 5,847.7 million Mexican Pesos ($311.435 million).

Although we were unable to find all six to eight brands/companies that produce Latin American snacks for sale in the US, after an extensive search through the public domain, we could only provide three companies/brands that produce Latin American snacks for sale in the US and have ranked them based on their recent sales. Below we have provided the detail of our methodology, findings, and the possible reason for the unavailability of the desired data.

METHODOLOGY

To identify the top six to eight brands/companies that produce Latin American snacks for sale in the US and to rank them by revenue/sales, we
began searching for a pre-compiled list through credible sources like industry reports such as MarketDataForecast, PR NewsWire, Grand View Research, Statista, and Research and Markets, among others. All the research reports mainly talked about the market size for snacks in Latin America, the Hispanic food and beverage market in the US, the overall U.S. snack market size, and the overall U.S. food and beverage market size. There was no information on the brands/companies that produce Latin American snacks for sale in the US.

It is possible that the list of brands/companies that produce Latin American snacks for sale in the US is available behind a paywall in the Hispanic food and beverage market report; however, it is not viewable without a payment.
We then looked through industry and media publications such as Ranker, BakeryandSnacks, Food Navigator-Latam, PackWorld, Manta, FoodSafetyMagazine, and FoodBusinessNews, and others. These sources provided information on an increase in snack consumption by Hispanics in the US and other trends related to the Hispanic food and beverage market in the country. However, the brands/companies that produce Latin American snacks for sale in the US. was not among the reported data.
We have identified that Latin America consists of the entire continent of South America in addition to Mexico, Central America, and the islands of the Caribbean. Through sources such as Ranker and Manta, we were able to identify the following data:

  • Mexican and Latin American Food Products in the US — Manta listed that there are 94 companies under Mexican and Latin American Food Products in the US.
  • We were only able to find the names of companies/brands, revenue for these companies were not available while searching through Owler, ZoomInfo, Reuters, Manta and other. Due to the reason, these are privately held companies, they have not disclosed any of their annual reports or financial statements available to the public.
  • The list obtained from Ranker discussed famous Hispanic brands, including Petrobras, San Miguel Corporation, Natura, Banco Itau, Telcel, Grupo Bimbo, Mango, Zara, Lider, LEGO, Chupa Chups, Damm, Loewe, Comcel, Brahma, Adolfo Dominguez, and Aguila Corp. Out of all these companies, only Grupo Bimbo could be identified as a snack brand/company.
  • According to Milling & Baking News, Grupo Bimbo, Mexico City, is gaining a foothold with its Mexican brands such as Takis, a corn chip produced by Grupo Bimbo subsidiary Barcel USA. Hence, Grupo Bimbo was considered as a Latin American snack company but none other could be found.

We also found a list of Hispanic Foods and Beverages in the US through a report on Research and Markets, after manually screening the list for brands/companies that produce Latin American snacks for sale in the US. Using this list, we were able to identify two more companies meeting all the required criteria. No other companies could be identified that sell Latin American snacks in the US market. Through IRI, we could find a list of top-selling food and beverage products for Hispanic consumers. It provided the names for reference; however, these products were not produced by Latin American companies.

Our next strategy to identify the remaining 3-5 brands/companies that produce Latin American snacks for sale in the US was broadening the research criteria beyond 24 months. But this also provided very limited information of which brands/companies were either based in the US or did not produce snacks. We also tried broadening criteria for the country of origin but since the required market information is niche, we looked for Hispanic snacks, Latin American snacks, and snack producers in Latin American countries. But all the results we found were limited to the US Hispanic Foods and Beverages Market, Hispanic Foods and Beverages in the US, which were all focused on the product type and not the country of origin (Latin America) or the product (snacks). Therefore, this strategy also could not reveal the required information. In the absence of other available data related exclusively to the Latin American food and beverage market in the US, the Hispanic food and beverage market was used as a proxy.

WHY TRIANGULATION WAS NOT POSSIBLE:

Using the above-mentioned strategies, we were not able to find any precompiled data and then we tried attempting triangulation to identify the companies. As the information on revenues of the identifies companies was not available, we tried expanding the criteria for ranking these companies as "top" based on revenues to other metrics such as best-selling or any brand rankings or based on popularity. But these metrics were also not available publicly. Due to the niche segment and lack of reports/articles available on the market, the triangulation attempt was also failed.

Paywalled source:

During our research, we were able to locate a paid report published by PR NewsWire revealing details including the market for Hispanic foods and beverages, retailer environment, food service environment, new products and trends, and the consumer.

After an extensive search through the publicly available sources, we were not able to found the lists of snacks made in Latin American countries and sold in the US or just Latin American brands of snacks in general. The reason for the unavailability of data is due to the reason that this is a niche market segment. Another reason for the unavailability of data in the public domain is that these companies are privately held. Also, there is a lack of research in this segment due to the reason that as all reports cater to the consumer needs and the products trending among them and not towards their country of origin.
Based on our research, we have provided the names and information on three of the companies in the US market for Latin American snacks. Additionally, we have provided the names of the companies that produce snacks to sell in the US, top-selling food and beverage products for Hispanic consumers for reference.

FINDINGS: TOP LATIN AMERICAN SNACKS

Grupo Bimbo, Barcel USA corn chip producer earns 76,309.2 million Mexican Pesos or $4,064.05 million. Grupo Bimbo could be identified as a food processing brand/company and was ranked 11 among the best Hispanic brands. The company produces snacks such as Takis, a corn chip produced by its subsidiary Barcel USA.

Gruma producer of tortilla chips has an annual revenue of $3.7 billion. Herdez offer includes burritos, canned vegetables, guacamole, home-style salsa, honey, jam, ketchup, mayonnaise, mole, mustard, organic food, pasta, spices, tea, tomato puree, tuna, and others. It has an estimated annual revenue of 5,847.7 million Mexican Pesos or $311.435 million.

OTHER COMPANIES THAT CATER TO LATIN AMERICAN CONSUMERS

Some other companies that produce Latin American snacks for sale in the US include Buena Onda Foods, Nora Foods, Helados y Postres Para, Sage Imports, Corp., El Sabor de Mi Pais, Sabor a Pais, Brazil on the Table, El Peka Foods LLC, Mis Reinas Barbacoa & Tortillas, Southwest Salsa Co., and others.
Hispanic Foods and Beverages brands/companies in the U.S. include Abuelo's, AlegroFoods.com, Amigofoods, B&G Foods, Baja Fresh Mexican Grill, Barcel USA, Cacique, Campbell Soup, Chevys Fresh Mex, Chili's, Chipotle Mexican Grill, Churromania, ConAgra, Concha y Toro, Cuervo Leads, Del Taco, El Meson Sandwiches, El Pollo Loco, Frito-Lay, General Mills, Giraffas, Goya, Gruma, Grupo Bimbo/Bimbo Bakeries, Grupo Lala, Grupo Modelo, Hain Celestial, Herdez, Hormel, igourmet.com, J.M. Smucker/Rowland Coffee Roasters, Jose Cuervo, Juanita Foods, Juanita's Foods, Kraft Heinz, La Preferida, La Tortilla Factory, Logos, Marquez Brothers, MegaMex Foods, MexGrocer.com, Mission, My Mexican Pantry, Not Just Mexican, Olé Mexican Foods, On The Border Mexican Grill & Cantina, Pappasito's Cantina, Patrón, PepsiCo, Pollo Campero, Rubio's Fresh Mexican Grill, Sauza, Taco Bell, Taco Cabana, Truco Enterprises, and Wahoo's Fish Tacos.
As per IRI, in 2017, CPG launched New Product Pacesetters report, the top-selling food and beverage products for Hispanic consumers includes Halo Top, Hillshire Snacking, Chobani Drinks, GOOD THiNS, Oscar Mayer Natural, Dunkin’ Donuts Iced Coffee, Cracker Barrel Macaroni & Cheese, Birds Eye Steamfresh Veggie Made, SMARTMADE by Smart Ones, and POWERADE X ION4.

OTHER USEFUL INSIGHTS

Hispanic foods market in the U.S. had an estimated market size of $17.5 billion in 2015 and is expected to reach $21 billion in 2020, with a compound annual growth rate (CAGR) of 3.8%.



Part
04
of four
Part
04

Market Size - Latin American Snacks

In 2018, the Latin American snacks market size in the United States was estimated to be $2.3 billion. Based on information from SuperMarketPerimeter, FoodBusinessFood, and the Specialty Food Association, it is likely that snacks from Mexico represent the largest share of the Latin American snacks market, followed close by Peru and Brazil. Below are more details on our triangulation, assumptions, and findings.

Methodology

The initial search for a direct answer to the Latin American snacks market size in the United States began with a look through research conducted by market research companies like MarketDataForecast, Plunkett Research, Grand View Research, Statista, and Transparency Market Research, among others. Immediately, it became obvious that very little research had been conducted in this area, as all the research reports available centered on the market size for snacks in Latin America, the Hispanic food and beverage market in the United States, the overall U.S. snack market size, and the overall U.S. food and beverage market size. It is possible that the market share for snacks in the United States is available behind a paywall in the Hispanic food and beverage market report; however, it is not available without payment.

The search for a direct answer was then expanded to industry and media publications in an attempt to work backwards and find a reliable report using reported statistics. Sites such as BakeryandSnacks.com, Food Navigator-Latam, PackWorld, FoodSafetyMagazine, and FoodBusinessNews, among others provided information on an increase in snack consumption by Hispanics in the United States and other trends related to the Hispanic food and beverage market in the country. However, the market size for Latin American snacks in the U.S. was not among the reported data.

At this point, market triangulation appeared to be the next option. Since the search for a direct answer to the U.S. market size for Latin American snacks led to the total U.S. snack market size and the overall food and beverage market size, it was possible to determine the market share of snacks, which could then be applied to the market share of Latin American snacks in proportion to the U.S. Latin American food and beverage market. However, despite extensive research into the above-mentioned sources there were no reports that referred to the Latin American food and beverage market in the U.S. What was found, though, was the overall U.S. Hispanic food and beverage market size.

According to Curiosity.com, the terms "Hispanic" and "Latino" are "often used interchangeably" even though they "don't mean the same thing." However, it also states that "the good news is that if you do use them interchangeably, you have a good chance of being right: the majority of Latinos are also Hispanic, and the majority of Hispanics are also Latino." Essentially, the difference is that "Hispanic is about language and Latino is about geography," but in the United States, both terms are used to refer to "describe those living in the United States." As such, it was assumed that both the Hispanic and Latin food and beverage markets would also refer to food from Latin American countries that are populated by Hispanics. Therefore, in absence of other available data related exclusively to the Latin American food and beverage market in the United States, the Hispanic food and beverage market was used as a proxy.

Unfortunately, the only market research report on the Hispanic food and beverage market was published in 2016. However, it provides a projected growth rate through 2020, which allowed for the calculation of the estimated market size for each year between 2016 and 2020. Since all other data obtained was for 2018, the calculated 2018 market size for the Hispanic food and beverage was used for triangulation purposes.

Calculations

ResearchandMarkets found the Hispanic food and beverage market in the United States to be $17.5 billion in 2015 and that it was anticipated to grow at a CAGR of 3.8% through 2020. Therefore, assuming the CAGR remained steady for the entire forecast period, the estimated market size for each year between 2016 and 2020 can be calculated as follows.

2016: $17,500,000,000 x 1.038 = $18,165,000,000
2017: $18,165,000,000 x 1.038 = $18,855,270,000
2018: $18,855,270,000 x 1.038 = $19,571,770,260
2019: $19,571,770,260 x 1.038 = $20,315,497,530
2020: $20,315,497,530 x 1.038 = $21,087,486,436

Since all other data points obtained for triangulation are from 2018, the calculated U.S. Hispanic food and beverage market size of $19,571,770,260 is used for further calculations as well.

In 2018, Plunkett Research set the Total U.S. food and beverage market size at $742.5 billion. Note that this figure is for sales in food and beverage stores, which is the most likely place where snacks would be sold and why this figure was determined to be the most representative market of which snacks are a part. There were other figures from other research outlets for the food and beverage market that included restaurants, pet food, vitamins, and other products, but these markets appears to be too broad. In addition, the Hispanic food and beverage market size report only included sales from "U.S. supermarkets and grocery stores, drugstores, and mass merchandisers," so it was determined that the figure for sales in food and beverage stores was the most comparative market to the Hispanic food and beverage market.

Another research report from Packaging Strategies indicated that the U.S. snack market size is worth $87 billion. Using that figure and the overall U.S. food and beverage market size of $742.5 billion, it can be calculated that snacks make up 12% of the overall market ($87,000,000,000 / $742,500,000,000 = 0.117, rounded to 0.12 or 12%).

Then, using that market share for snacks (12%) and the overall size of the U.S. Hispanic food and beverage market in 2018 ($19,571,770,260), the approximate market size for Hispanic snacks (or Latin American snacks) can be calculated to be about $2,348,612,431 ($19,571,770,260 x 0.12). Of course, this assumes that the two markets are proportionately equal, which may not be 100% accurate; however, in the absence of more exact data, this is as close as can be calculated.

Countries of snack origins

Using many of the same sources indicated in the "Methodology" section, an attempt was made to identify the countries of origin for Latin American snacks in the United States. Unfortunately, in research reports and industry publications, there was no available information on this topic. What was found included trends, which showed that Latin flavors are increasing in popularity, particularly among millennials and that many snack companies are tapping into the popularity of spicy flavors by marketing new products. There were also personal blogs that contained lists of popular snacks from Latin American countries; however, there was no indication that these were popular on a major scale in the United States.

By expanding the time frame beyond two years, an article from SuperMarketPerimeter was found that provided some insights on Hispanic snack trends, which indicated that in 2015, consumers were spending one in four dollars on specialty foods, of which Hispanic snacks are a part. This article stated that the Puerto Rican snacks tembleque and quesitos were gaining in popularity, as was chocotorta and pastelitos from Argentina, brigadeiro from Brazil, chajá from Uruguay, picarones from Peru, and chilenitos and manjar from Chile. However, there was no indication of whether these countries represented the majority of snack production or if Mexico holds that distinction.

Another slightly older publication, from FoodBusinessNews observed that in 2016, Grupo Bimbo, located in Mexico City, Mexico, was gaining a foothold in the United States with its Takis product. In addition, Grupo Bimbo and Marinela were two Mexican brands that accounted for "a significant portion" of Bimbo Bakeries USA's "sweet goods business." Moreover, Bimbo Bakeries USA's CEO Daniel Servitje indicated that the company was "very pleased with the growth" of its Mexican products in the United States. Servitje stated, "We have a plant in the U.S. focused on basically producing these salty snacks items, and we also do a lot of export from the Mexico zone. So that’s a growing business."

This article also noted that "with proximity on its side, it’s not only easy for Mexican foods and flavors to quickly gain popularity in U.S. markets, especially in large border states such as Texas and California, but it’s also easy for American consumers and marketers to assume that 'Hispanic' directly translates to 'Mexican.'" From this statement, it can be assumed that Mexican snacks do in fact make up the majority of the Latin American snacks market, but that snacks from other countries are also gaining popularity in the country. Specifically, the article mentions Colombian pan de queso and Cuban or Argentinian empanadas. In addition, another indication that Mexican flavors dominate the Latin American snack market in the U.S. is that Mintel, a market research company, encouraged marketers to "mine the interest in Mexican foods" and create "fusion concepts" with other Latin flavors. This seems to hint that in order for snacks from Latin American countries other than Mexico to gain market share in the U.S., they need to tap into the popularity of Mexican flavors, which insinuates that snacks from Mexico have a higher market share than those from other Latin American countries.

Finally, in an effort to find hard data supporting the theory that snacks from Mexico are more prevalent in the U.S. than snacks from other Latin American countries, the source referenced in SuperMarketPerimeter, the Specialty Food Association, was consulted. While there were no statistics presented, there was information on countries represented at recent trade shows, along with the number of booths with food products from these countries. This data provided insights into which countries have food products that will be sold in the United States. Accordingly, it is assumed that the countries with the most booths have a higher market share in the specialty food market, of which Latin American snacks are a part. Note that not all foods exhibited at these trade shows are snacks; however, most are.

At the 2019 Winter Fancy Food Show, the country breakdown of booths featuring Latin American foods was as follows.

Brazil: 18 booths
Colombia: 1 booth
Costa Rica: 1 booth
Ecuador: 1 booths
Mexico: 25 booths
Peru: 10 booths

At the upcoming 2019 Summer Fancy Food Show, the country breakdown of booths featuring Latin American foods will be as follows:

Argentina: 1 booth
Colombia: 1 booth
Costa Rica: 1 booth
Mexico: 24 booths
Peru: 23 booths

Please note that the links cited above lead to the floor plan page for each trade show and the individual countries need to be selected in the search bar to see the results.

As indicated by the number of booths from each country, Mexico leads all Latin American countries in product demonstration in the United States, which would likely correspond with having the most snack products available for purchase in the country as well.

Conclusion

Based on the proportion of snacks to the overall U.S. food and beverage market, the U.S. market size for Latin American snacks is estimated to have been about $2.3 billion. All indications are that Mexico dominates the Latin American snack market in the United States, but other Latin American countries like Peru, Brazil, Costa Rica, Cuba, Colombia, Argentina, and Uruguay are producing food and snack products that are gaining in popularity as well.
Sources
Sources