UGA Tops Products Ranking and Consumers Food Satisfied
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The University of Georgia once again ranks No. 1 among U.S. universities for the number of commercial products to market based on its research, according to the latest annual survey by AUTM.
This marks the eighth straight year UGA has placed in the top two and has never appeared out of the Top 5 in the 10 years the survey has been reported.
www.news.uga.edu/uga-again-leads-the-nation-in-new-products-based-on-research/?utm_source=CAES+Newswire&utm_campaign=d4cfb2c178-Newswire_Media_Daily&utm_medium=email&utm_term=0_4cb3048305-d4cfb2c178-35735258
**The latest Purdue University Consumer Food Insights Report shows consumers who are most satisfied with their food consumption also spend the lowest share of their incomes on food.
The July survey-based report shows three of every four
Americans say their food satisfaction is thriving.
Researchers found consumers have yet to embrace meat alternatives as better than beef from cattle.
Other results include household food-at-home spending is up 4.6% from July of last year, its highest level yet.
**U.S. consumers spent an average of 11.3% of their disposable income on food in 2022, a level not observed since the 1980s, according to USDA’s Economic Research Service.
Disposable income is the amount consumers have left after paying taxes.
Consumers spent 5.62% of their incomes on food at supermarkets, convenience stores, warehouse club stores, supercenters, and other retailers in 2022 and 5.64% on food at restaurants, schools, and other places offering food away from home.
