PR Newswire
US demand for manufactured food is forecast to grow 1.4% annually in nominal terms through 2024, according to Food Processing: United States, a report recently released by Freedonia Focus Reports. The market for manufactured food will expand as real disposable income per capita advances 0.4% annually during that period. In addition, consumers will pay a premium for products that require little or no preparation and are considered healthy or natural. Therefore, purchasing of higher-value foods is expected to support demand growth. However, the maturity of the market, declines in real disposable income in 2021, and falling meat and chicken prices will restrain faster gains.