China surpasses the U.S. as the world's top spender on food. China's supermarket sector was...

|By:, SA News Editor

China surpasses the U.S. as the world's top spender on food. China's supermarket sector was worth $970B in 2011, pushing past the U.S. sector's $913.5B value. China's grocery market is forecast to expand to nearly $1.46T by the end of 2014, driven by China's economic growth, an increase in its citizens' wealth and inflationary pressures.