Countries With the Highest Food Expenses

The analysis of countries with the highest food expenses in 2023 shows that Hong Kong leads with $4.42 thousand per capita. Following are Switzerland, Norway, Israel, and New Zealand, showcasing significant spending patterns. In 2024, these expenditures are forecasted to slightly increase due to inflation and global economic factors. The year-on-year variation indicates a modest upward trend, with noticeable high food expense growth in developed economies, likely influenced by urbanization and increased food consumption. Over five years, Hong Kong exhibits a CAGR that underscores a steady rise, suggesting a continuous demand for premium food products.

Future trends to watch include an expected rise in food expenses as economies stabilize post-pandemic. Emerging factors such as climate change and technological advancements in agriculture might affect future forecasts. Also, shifts toward sustainable and ethical consumption could influence spending patterns in the highest-spending countries.