Benefit from the biggest household expense

Article Excerpt

Food is the single-largest expense item for many households worldwide. This spending is also expected to grow as the global population expands and becomes wealthier. However, food producers can be subject to volatile food prices and need to be nimble to capture opportunities as consumer preferences and habits change. A slow-growth industry Globally, humans spend around $5 trillion every year on food and beverages, which is the single-largest expense category equal to almost 40% of total household expenditure. This number may seem surprising but it is skewed by lower income groups that spend a larger portion of their income on food than higher income groups. The second-largest category, housing, attracts around $1 trillion of spending or about 10% of expenditures, followed by transport, clothing, and healthcare. The global population will likely rise from 7.4 billion in 2015 to 11 billion by 2100. A growing population combined with rising incomes should support stable growth in global food consumption, estimated at 1.1% per year. The broadly…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.