5_Consumption.trends

5_Consumption.trends - Consumption Trends Key Questions...

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Unformatted text preview: Consumption Trends Key Questions What are the major trends and characteristics of consumers? What are the major trends in Food Expenditures? What demographics are shaping the future of the U.S. agri-food system? Characteristics of Food Consumption What share of their income do U.S. consumers spend on their food? 1960 = 17% 1980 = 13% 2008 = 9.6% of total disposable income Trend : declining share of income How much do consumers spend on food and alcohol each year? Approximately $925 billion in 2000 Approximately $1.06 trillion in 2003 Approximately $1.33 trillion in 2008 Trend: rising expenditures Why Have Food Expenditures Been Rising? Population Increase due to increase in population – simply more food to market Price Higher food marketing costs – labor and energy Preferences Changes in what food products we consume Increased food marketing services Changes in Population Growing populations lead to larger...
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This note was uploaded on 02/23/2010 for the course FIM 220 taught by Professor Weatherspoon,d during the Spring '08 term at Michigan State University.

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5_Consumption.trends - Consumption Trends Key Questions...

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