Major numbers for the food industry on July 4th

Major numbers for the food industry on July 4th

The 4th of July is one of the biggest food holidays in the year.

Every year, the 4th of July is a day where celebration takes place across the nation to commemorate the adoption of the Declaration of Independence on July 4th, 1776.

This day, an important amount of spending is generated across the nation, especially for the food industry, as 7.1 billion dollars are estimated to be spent on food during this holiday weekend, as a National Retail Federation report conducted by Prosper Insight & Analytics estimated that 219 million people plan to celebrate the date. In the same index, it was also found through surveys that 65.5% of those Americans plan on attending a barbecue, picnic or cookout to set in motion July 4th celebrations, propelling even more food consumption across the United States.

Last year, according to Nielsen, Americans bought a total of 804 million dollars’ worth of beef and 371 million worth in chicken, gathering a total of 6.8 billion in food spending for July 4th in 2016. For Wal-Mart, Texas is the number-one burger and hot-dog market.

As for grilling seafood, an also popular food activity for July 4th, it does not have as significant impact as would hot-dogs and burgers around the country, nevertheless, the industry still acquires over 80 million worth of sales and over 45 millions of salmon sales.

Meanwhile, a Farm Bureau´s informal survey revealed that the average cost of a summer cookout for 10 people costs about 55.70 dollars, or, 5.57 per person, however, the cost for a cookout has slightly dropped less than one percent comparing to last year, as higher production has pushed retail meat and pork prices down, said Dr. John Newton, AFBF Director of Market Intelligence.

Possibly the biggest costumer tendency that changed with July 4th, 2017 and the past year is the fact that more people are planning on celebrating the important U.S. date, one that means and important boost and benchmark for the food industry, who in the past years has trailed despite North America being the largest global market across all food segments.

2017-07-08T03:05:23+00:00

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