Current Challenges and Future Trends in Agribusiness

Food and agribusiness is a $5 trillion global industry. Food represents more than 10 % of consumers’ daily spending. While it is true that agriculture and food production has grown exponentially over the past decades, especially the agribusiness sector in Townsville, Queensland, there are still plenty of challenges that the industry must overcome. Among these trends are the following:

Rapid Urbanisation

Experts say that more than half of the world’s population is living in cities and not in rural areas. By 2030, the population will be living in megacities. This trend poses the challenge of farming in these densely populated areas where land is scarce.

China is currently using vertical and rooftop farms to address the problem of arable land. New farming techniques mostly target leaves and vegetables, with the aim of ensuring produce reach more tables within a faster period to prevent wastage. In the case of grain and cattle, farmers will still need to raise them in rural areas then transport them into cities.

Addressing the Lack of Resources

Food not only requires money and land in its production. To continue feeding almost 10 billion people on the planet, farmers need to find ingenious solutions to use the limited resources they have more efficiently.

Apart from vertical farming and hydroponics, the industry is also looking at farming with genetically modified seeds and animals. These are crops that need less water to grow and mature faster as well as yield bigger and healthier produce. Additionally, plant-based meat and dairy alternatives are also entering the market, and the public so far has received them well.

The agribusiness sector still has a long way to go before it can assure stability and sustainability. However, with continued creativity and adaptation of modern trends and useful tools, the challenge at hand will be much easier to face.