HispanicBusiness

Both for the tasty flavors it's produced and its vast buying power, the Hispanic market has become muy rica to the business world.

Very rich in both senses of the word, with restaurants, supermarkets and authentic products broadening the traditional American palate at the same time they produce serious revenue.

According to census data, Hispanic consumers alone wield $600 billion in annual buying power, to say nothing of the crossover of other ethnicities buying Hispanic-theme products. As such, companies large and small are scrambling to catch up with the rising trend.

They've converged on the Los Angeles Convention Center for three days this week at Expo Comida Latina, drawing an estimated 10,000 attendees. From giants like Coca-Cola and Kraft to tiny family-owned operations, 272 exhibitors set up shop to showcase their wares.

Whether part of the Hispanic community or looking to get into it, all were extremely conscious of the importance of the burgeoning market.

"Who's the future? Us," said Joe Benites, head of the Glendale-based marketing firm The Benites Group, which exhibited at the show.

"We'll be spending $1 trillion a year by the end of the decade."

His research shows 33 million Hispanics living in America, growing at a rate of 58 percent each decade. In the San Fernando Valley, census data show that the 568,719 Hispanics make up 42.1 percent of the population, making them the largest local ethnic group. From the ever-growing presence of Gigante and Vallarta markets, to the expanding aisle space at traditional stores for Hispanic foods, firms are clearly catching on to the importance of the community.

"Power in those numbers is real money," said Denyse C. Selesnick, who directed the expo for Woodland Hills-based International Trade Information. "This is a very important buying group, one that will determine the trends of the future."

They're already determining the trends of today, as major firms have begun introducing lines of carne asada, salsa and guacamole. Kraft added lime juice to its regular mayonnaise and transformed it into mayonesa , Coca-Cola revived its popular fruit-flavored Fanta brand domestically and Dr Pepper signed Latin jazz legend Celia Cruz and pop songstress Paulina Rubio to promote its distinctive brew.

"These big Fortune 500 companies are all getting into this," said Andy Harris, who produces "The TV Diner" for KCAL-TV (Channel 9).

"If you don't have Latino foods in your portfolio, you're not getting the job done. Our local supermarkets have always had huge Latino food sections, but the products are now moving out of the Mexican aisle and into the mainstream."

At North American Latino Beer Industries, owner Johnny Hernandez has watched his tiny one-man operation in Van Nuys flourish into a multimarket purveyor of Otra beer. The intense brand loyalty has won him enough customers in only a year to land in many of the ethnic chains and is now breaking into Albertsons and Sav-On.

No longer just a regional import or a cheap American knockoff, Hispanic foods have become a growing presence in the dining world, as well. Fledgling chains such as Chipotle and Thousand Oaks-based Baja Fresh have been gobbled by giants McDonald's and Wendy's, respectively. At the casual dining level, El Torito has expanded its menu to include more authentic regional offerings. And thanks in part to its media-savvy proponents Mary Sue Milliken and Susan Feniger, chefs at the Border Grill and Ciudad, Nuevo Latino cuisine has become a hot commodity in the Los Angeles fine dining scene.

"Mexican food is where it's at," said Natalie Douglas, a regional manager for ConAgra Foods-Mexican Foods. "There's huge growth in this business."

The interest from packaged food dominators like ConAgra should push the market to even greater levels, said Laura Diaz, a chef and host of the Burbank-based U'LaLa bilingual cooking show.

"The huge companies are looking for a transition," she said.

"They've learned how the Latino consumer revolves around food. If they're going to eat, they want to sell to them."

In addition to its family-oriented, food-centric culture, the exhibitors agreed that the market brings with it unrivaled brand loyalty. From Orange Bang to Cacique cheese, companies are betting that once they interest Hispanic consumers, they'll be able to retain them without having to rely so extensively on promotions as mainstream companies.

George Olivos has seen that firsthand, running his family-owned Pico De Gallo's Spices and Seasonings. Though still small in size -- 10 employees make the fruit salad seasoning mix by hand -- they've managed to land the product in Costco, Food4Less, Gigante and Vallarta markets.

"We get calls from Maine with people looking for our spice," he said. "It amazes me, but people are buying it."