The food industry is responsible for each person’s quality of life in a variety of different ways. Because of the food industry, people can have access to fresh foods when they are out-of-season in their community. They can also eat healthy items or not-so-healthy items based on their budget and the lack of availability in there area of certain items as well.
Food Industry Statistics and Facts
The value of the global food industry is expected to reach $7 trillion by the end of 2014.
Europe accounts for the largest share of this industry, with $1.4 trillion in revenues as of 2007. The United States is a close second with $1 trillion in total revenues. In Europe alone, more than 4 million workers have gainful employment because of this industry. According to estimates, the total annualized increase is expected to be about 3.5%
These Facts You Should Know Right Now
1. The global beverage industry accounts for $1.4 trillion in total revenues.
2. Many of the raw materials for the food industry originate from the Asia-Pacific region as staple foods transition from carbohydrate-rich foods to protein-rich foods.
3. Russia has raised its food production capabilities by 45% in the last decade. In the same period, the US capabilities for food production decreased by over 12%.
Takeaway: Looking at the raw data, there is one inescapable conclusion: the regions that consume the most food and generate the most in revenues are producing less food than ever. If this trend continues, it can only mean a shift in wealth within this industry as the major suppliers of food for the world will transition into the Asia-Pacific region simply because they are spending their resources to develop new resources. On the other hand, Europe and the US will be spending their resources to purchase food products.
Other Facts to Consider About the Food Industry
1. About 58% of the total food that is consumed in the world today is done in developing countries. This is expected to increase to 72% by 2050.
2. The food retail industry earned revenues of $3.9 trillion in 2008, the last year for reliable figures on a global scale.
3. Global retailers are expanding into low-cost countries with processed foods as a means of generating larger revenues.
4. 50% of all packaged products are consumed in the United States, Japan, and the European Union.
5. Four companies around the world control over 80% of the total beef industry.
6. In 2008 alone, global food prices increased by almost 50%.
7. Two companies sell 58% of all US seed corn.
Takeaway: When there is more consolidation in the global food market, it means there is more control over what people eat. Here’s a harsh reality: in 1967, the consumption of high fructose corn syrup per person was just 0.03 pounds. In 2006, it was 58.2 pounds. Three quarters of the world’s food is generated by just 12 varieties of plants and 5 animal species. What does this control bring? Your money into a corporation’s coffers. There is high profitability and good things coming out of this industry, but its efforts could also be part of the reason for the increasing weight of people around the world.