In 2023, urban households in China spent approximately 7.40 thousand Yuan Renminbi per capita on food, tobacco, and liquor. From 2024 onwards, the forecast indicates a steady increase: 7.76 in 2024, followed by 8.15 in 2025, 8.53 in 2026, 8.9 in 2027, and reaching 9.26 in 2028. This reflects a consistent upward trend, with year-on-year growth rates of approximately 5.0% between each forecasted year. The compound annual growth rate (CAGR) from 2023 to 2028 is around 4.7%.
Future trends to watch for include changes in consumer preferences towards healthier food options, the impact of government regulations on tobacco and liquor, and the influence of economic growth on disposable income. Additionally, technological advancements and e-commerce may alter spending patterns significantly.
