In 2023, China led global R&D expenditure in the manufacture of food, beverages, and tobacco, with the United States and Japan following. Over the last five years, the CAGR indicates steady growth across key markets, especially in Poland, Taiwan, and Eastern European countries. However, Mexico and Israel reported declines. The year-on-year percentage variations for 2023 reveal robust growth in emerging markets like Romania, Iceland, and Latvia, suggesting potential future shifts in R&D intensity.
Future trends to watch include China's dominance in R&D investments, the increasing role of Eastern Europe due to high growth rates, and potential recovery in Mexico and Israel. Monitoring technological advancements and consumer preferences in these markets will provide insights into strategic opportunities and investment allocations.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Food Products; Beverages and Tobacco Products by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 15,340 | 2023 | +3.74% | +3.35% | View data |
| 2 | 2 United States | 7,310 | 2023 | +2.74% | +4.85% | View data |
| 3 | 3 Japan | 2,990 | 2023 | +2.63% | +2.98% | View data |
| 4 | 4 South Korea | 1,290 | 2023 | +5.77% | +6.47% | View data |
| 5 | 5 Italy | 548.55 | 2023 | +4.33% | +5.14% | View data |
| 6 | 6 Germany | 473.06 | 2023 | +1.4% | +1.52% | View data |
| 7 | 7 United Kingdom | 426.93 | 2023 | +0.23% | +0.79% | View data |
| 8 | 8 Spain | 422.23 | 2023 | -0.76% | +0.52% | View data |
| 9 | 9 Poland | 355.12 | 2023 | +4.87% | +12.35% | View data |
| 10 | 10 Taiwan | 291.42 | 2023 | +6.67% | +8.89% | View data |
