Demand Growth for Animal Products in the BRIIC Countries

Abstract

ABSTRACTWe conduct a meta‐analysis of studies of consumer demand for animal products in the BRIIC countries (Brazil, Russia, India, Indonesia, and China) to gauge how future demands are likely to evolve. The BRIIC countries accounted for more than one‐fourth of global GDP in purchasing power parity terms in 2010, and are projected to have high rates of economic growth during the coming decade. Econometric results indicate that demands are likely to become more price‐responsive but less income‐responsive. These effects will likely become significant over time in countries such as China and India where per capita incomes are projected to grow rapidly. These developments may benefit exporters of animal products to the BRIIC countries if trade agreements are signed that open up the relatively closed markets for animal products in these countries. [EconLit Subject Codes: Q110, Q170].