Growth in US food market by 2020

Posted 13 March, 2003
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USA – The United States Department of Agriculture (USDA) has released a report that predicts demographic changes, along with population and income growth, will increase total spending on food in the USA by 26.3% from 2000 to 2020. However, spending on dairy products will only rise by 22.6% in the same period.

Per capita spending is predicted to increase by 7.1% in line with overall expansion. Despite the shortfall of dairy products in total food sales, there will be relatively little variation in the expenditure growth levels of individual food groups. The largest expansion will be in fruit, which is predicted to increase by 27.5%, while the least will be in beef and beverages, up 21.1%, according to the report.

The changes are based on projected demographic changes and an assumed increase in inflation-adjusted incomes of 1% a year.