In North America, Europe and, to an extent, Japan, the food and drink industry has been significantly impacted by the downturn. Recession in these markets has radically altered consumer behavior across the board, and essentials such as food and drink are by no means exempt. While consumers are not going to stop buying groceries, recession has both a real and a potential impact on household incomes and budgets. Falls in actual income caused by recession and the possibility of reduced future income have entailed major changes in spending on food and drink in developed economies.
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