Agribusiness Agenda 2014 - Exploring our global future
Agribusiness Agenda 2014, Volume 2
New Zealand’s primary sector must grapple with a range of global forces impacting on society and food producers – if it wants to remain relevant to the world’s agri-food markets of 2050. That is one of the key themes delivered in Volume 2 of the 2014 KPMG Agribusiness Agenda.
Titled “Exploring our Global Future”, this is the second of two volumes in the 2014 Agribusiness Agenda series.
Some of the key findings and recommendations:
- The Agenda explores 14 global key trends predicted to have the most significant influence on agri-food markets in the next 20 to 30 years. The critical challenge for New Zealand agri companies is to stay relevant to their customers in a world that is “undergoing unprecedented change”.
- The changing geopolitical landscape is seeing the “wealth pendulum swinging back East”, as many Western economies struggle to adjust to the post-GFC landscape.
- A key trend is the emergence of new consumer groups – resulting from the growing middle classes in emerging economies, the world’s ageing population, and the increasing number of adherents to major religions.
- By 2050, 40% of the world’s population (around 3.6 billion people) are expected to be eating in accordance with religious practices – and the effects of this will permeate throughout the global food supply chain.
- The world’s population will be eating new types of food in the future. New Zealand companies should be willing to explore the development of synthetic laboratory-grown foods, to complement our natural food offerings. Insect-derived proteins are also likely to break out from ethnic diets into the mainstream over the next 20 years.
- The shift in healthcare focus from curing illness to maintaining wellness is driving demand for nutraceutical foods. Developing these types of products presents a prime opportunity for New Zealand producers.
- As the world’s natural resources becoming increasingly scarce, New Zealand producers may need to re-think some traditional products. For instance, the dried milk powder segment could be ripe for innovation in a water-constrained world.
- Maintaining food integrity will be an increasing focus for the global food industry. The Agenda predicts the future establishment of a global food integrity body, responsible for cross-border criminal investigations into food fraud.
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