In 2023, China led global R&D expenditure in the manufacture of food, beverages, and tobacco products, with the United States and Japan following. South Korea and Italy showed strong year-on-year growth at 6.47% and 5.14%, respectively. Notable increases were observed in Poland (12.35%), Taiwan (8.89%), and Slovenia (10.72%). Conversely, Mexico and Israel experienced declines. The fastest-growing countries included smaller economies like Romania with 26.63% and Latvia with 17.01%. The five-year compound annual growth rate (CAGR) provides insight into steady growth, particularly for emerging markets.
Future trends to watch include China's continued dominance in R&D spending alongside potential increases from emerging European markets. The shift towards more innovative food technologies, sustainability practices, and efficiency improvements are likely to drive expenditure changes. Additionally, as global trade dynamics evolve, the R&D focus might increasingly tilt towards addressing health concerns and regulatory changes globally, impacting expenditure distribution country-wise.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Food Products; Beverages and Tobacco Products Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 51.24 | 2023 | +3.74% | +3.35% | View data |
| 2 | 2 United States | 24.4 | 2023 | +2.74% | +4.85% | View data |
| 3 | 3 Japan | 9.98 | 2023 | +2.63% | +2.98% | View data |
| 4 | 4 South Korea | 4.3 | 2023 | +5.77% | +6.47% | View data |
| 5 | 5 Italy | 1.83 | 2023 | +4.33% | +5.14% | View data |
| 6 | 6 Germany | 1.58 | 2023 | +1.4% | +1.52% | View data |
| 7 | 7 United Kingdom | 1.43 | 2023 | +0.23% | +0.79% | View data |
| 8 | 8 Spain | 1.41 | 2023 | -0.76% | +0.52% | View data |
| 9 | 9 Poland | 1.19 | 2023 | +4.87% | +12.35% | View data |
| 10 | 10 Taiwan | 0.97 | 2023 | +6.67% | +8.89% | View data |
