Plunkett’s Food Industry Market Research

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Food, Beverage and Grocery OVERVIEW

     The global food and agricultural industry for 2016 was about a $8.0 trillion market, according to Plunkett Research estimates, or about 10% of the world's GDP.
     Global food exports totaled $1.33 trillion in 2015, according to the World Trade Organization (latest data available).
     While it is obvious that food is of equal importance to all people on planet Earth, the relative cost of that food is not equal.
     It varies widely due to such influences as location, local food industries and the availability of proper infrastructure for food transportation and storage.
     In the U.S., food accounts for approximately 13% of a typical household's spending, ranking third behind housing and transportation, per the U.S.
    Bureau of Labor Statistics.
     In Asia, food ranks first, estimated at 23% of consumer spending, followed by education and housing.
    In America, the average household spent $7,023 on food during 2015, up from $6,759 the previous year.
     That included $4,015 spent on food for at-home dining, and $3,008 for dining out.
    The retail grocery store and supermarket industry in the U.S., with 40,768 stores, totaled about $706.9 billion in revenues during 2016, up from $680.7 billion the previous year, according to U.S.
    Department of the Census figures.
     However, food products and beverages in America and elsewhere are sold at a wide variety of stores other than supermarkets.
     To get the full U.S.
    picture, it is important to


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