Empowered consumers, a fractal politics, more for less, global risks and disruptive technologies – these five “megatrends” are changing the face of Australian agriculture.
According to the Australian Bureau of Agricultural and Resource Economics and Sciences and CSIRO, the coming decades will present both great opportunities and challenges for farmers, government and the economy.
The two organizations examined the trends and their expected impact in Review of megatrends.
With three billion self-sufficient consumers globally, Australia’s agricultural industry faces an ongoing race to advantage, with plenty of opportunities for the brave.
ABARES Acting Executive Director Jared Greenville said the analysis would seek to help farmers, government and industry make informed decisions about an uncertain future.
“Each of the megatrends and sub-trends that we explore involves challenges and opportunities,” said Dr. Greenville.
“While the full implications of these megatrends may take decades to manifest, it is useful to consider how we are positioned to respond to the changes to come.
“We see Australian agriculture as having critical strengths, including positive long-term growth prospects in key markets, and our track record of market-driven productivity growth, innovation and competitiveness.
“Australian agriculture is well positioned, but it is essential that industry, government and communities have the tools and information they need to understand the risks and opportunities they face, so that they can create the future they want.
“Well-informed decision making and risk management will remain at the heart of Australian agriculture and we hope this Insights article supports that process. “
Review of megatrends shaping Australian agriculture is available at: agriculture.gov.au/abares/products/insights/megatrends-2021