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As China’s Diet Changes, Grocery Sales Surge

April 3, 2012: 02:24 AM EST
Food industry analysts IGD report that the Chinese grocery sector is now the world leader at $970 billion, pushing the U.S. market ($913.5 billion) into the No. 2 spot for the first time. The grocery spending gap is likely to widen even more by 2015. The growth will occur despite a significant slowdown in China’s economy as the country’s diet moves beyond rice and pork to include dairy products, wheat, grains, and white and red meats. Increased demand for these products in China has led to price hikes around the globe. IGD also expects that Brazil, Russia, India, and China (the BRIC countries) will comprise four of the top five grocery markets in the world by 2015.
Catherine Boyle, "China Becomes World’s Biggest Grocery Market", CNBC.com, April 03, 2012, © CNBC.com
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