Middle class wants meat, but the rich want alternatives

“Over the coming decade, an expanding global population will remain the main growth factor driving food demand, although the consumption profiles and projected trends vary depending on the development status of individual countries. Population is the key determinant of total food use. However, income, relative prices, other demographic factors, consumer preferences and lifestyles, meanwhile, determine a person’s desired food basket. On account of an expected 11% expansion in the global population between 2019 and 2029, as well as notable gains in per capita income in all regions, total consumption of food is expected to rise 15% by 2029, as measured on a calorie basis.

SHIFTS IN PROTEIN DEMAND

According to the ‘Agricultural Outlook 2020-2029’, per capita food expenditure will expand globally, but will decline as a share of income,