A report shows food expenditures in Asia that will increase close to more than $8 trillion by the beginning of the next decade, which was previously $4 trillion in 2020. This would make Asia the biggest market in food and beverage in the world.
The reports said that trend is a good opportunity for investors which would provide several
healthy food options and more sustainability.
This is according to a survey of 3600 people from 12 Asian Pacific countries, including interviews of high-level management and data analysis of food and beverage 3000 company that is listed on the stock exchange.
Mr. Anuch Maheswari, Managing Director of the Agribusiness Department of Temasek gave an interview to the CNBC television station and said " people have to eat healthier food and they should purchase food that is safe to consume even if we buy it online, and also buying sustainable food.”
The report shows that consumers in India and South Asia tend to raise food costs, which increases each year by 5.3% in India and South Asia by 4.7% respectively. However, China retains its position as the world's largest market.
Moreover, an investment report of $8 billion in 2019 shows they have to invest more than $1.55 million by 2030 An investment report in 2019 shows spending $8 billion and investing $1.55 million by 2030 in the supply chain. It would increase demand by $7.5 billion.
The figure follows consumer behaviors, especially people focusing on healthy and digital cognition.
Coupled with the rapidly growing population in Asia, Asia is expected to have 4.5 billion people and 65% of the world's middle class by 2030.
Well done Rinda!
Thank you for your kindness.