A variety of hurdles must be overcome in the formulation and scale-up of products matching traditional foods from other countries.
One day while sitting in an MBA class, Jorge Goldsmit and his friends remarked that it was strange no one was manufacturing authentic Mexican beverages in the U.S. Goldsmit, a native of Mexico, quickly realized there was a business opportunity for authentic hibiscus and tamarind beverages for the growing number of U.S. Hispanics who craved food products from "South of the border." Goldsmit decided to explore the opportunities for marketing authentic Mexican beverages in the U.S.
The growth of the Hispanic market is big news. It is hard to ignore the facts: annual buying power of $450 billion, a population that represents 15% of the U.S. population and has grown 58% between 1990 and 2000 (U.S. Census Bureau, 2000). The Hispanic market is becoming one of the most sought after consumer groups for U.S. businesses. While food companies are starting to take notice, challenges exist. For example, there is no single Hispanic market. Mexicans, Cubans, Puerto Ricans, Central and South Americans all have distinctive tastes and preferences.