- Worldwide demand for food is expected to increase three times by the year 2050 in line with the expanding population.
Food security and self sufficiency are primary areas of concern and focus of governments worldwide, especially in developing countries. The importance of agriculture can be put into perspective by the fact that as an industry, agriculture is one of the most important as it fulfills life's most essential elements - food. The industry continues to play an important, though declining role, in every economy. Government policies aimed at achieving self-sufficiency in food production are poised to positively benefit global per capita food production, which has been increasing over the years.
Worldwide demand for food is expected to increase three times by the year 2050 in line with the expanding population. Self sufficiency in food production will therefore emerge to assume critical importance for countries across the globe as governments seek to remain protected against food price fluctuations stemming from excessive dependence on imports.
Asia-Pacific, Latin America, Eastern Europe, and Middle East currently hold strong production and consumption opportunities. Against this backdrop, new cutting edge agriculture technologies and yield productivity enhancing management practices are poised to gain immense popularity. Sustainable agricultural practices, in this regard, will witness rapid adoption. Globally, farmland allocated for organic farming is steadily increasingly with significant progress being made in Australia, China, and Argentina.
The increase in land acreage devoted to organic farming is largely due to the efforts taken by governments in developing countries to uplift organic production in view of the lucrative and huge international export market. The increase in certified organic acreage and organic agricultural yield is resulting in the creation of new legislation and implementation of federal standards for organic farming, processing of produce and marketing of the final product. Countries across the world today have full-fledged organic standards in place, a key indicator of the market having crossed the threshold of its niche quadrant. Research, development and educational programs on organic food and farming systems are being valued for their impact on the organic food industry and as a result several market participants are allocating portions of their budgets for research and knowledge dissemination projects.
Apart from ensuring adequate food supply, the agriculture industry also generates massive employment opportunities to the rural population. The sector is also a leading supplier of raw material to downstream industries such as food and beverages, organic food, confectioneries, among others. Government support in the form of tax cuts and subsidies and favorable trade policies will strengthen the agriculture industry. The industry will also be influenced by technology developments, such as, biotechnology, remote sensing, global positioning system (GPS), satellite navigation, unmanned aerial vehicles for pesticide & fertilizer spraying, irrigation, insect sampling, among others. The ensuing emergence of precision farming will help increase framing efficiency, reduce crop wastages, and improve profit margins.
The research report titled “Agriculture: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the global agriculture industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Canada, Europe (Germany, Spain, UK, Russia, and Turkey) Asia-Pacific (Australia, China, India, Indonesia, Japan, Malaysia and Philippines among others) Latin America (Argentina, Brazil and Chile among others) and South Africa.
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