A recent USDA study shows that for every dollar Americans spend on food, only 7.8 cents goes to farmers, their lowest share since 1993. Another important metric: For the first time, over half of all consumer food dollars are spent at restaurants.
“The on-the-go consumer leads to farmers getting a smaller share of the food total,” said John Newton, director of market intelligence at the American Farm Bureau Federation.
And there’s always a millennial niche: They go grocery shopping the least compared to other generations, and devote more of their at-home food spending to prepared foods.
