American food spending shifts away from farmers

A new 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.

– Lauren Bankert, On 3 Public Relations