Global Agriculture
Food and agribusiness form a $5 trillion global industry that is only getting bigger. As per McKinsey, if current trends continue, by 2050, caloric demand will increase by 70% and crop demand for human consumption and animal feed will increase by at least 100%.
Source: McKinsey report
The following observations are based on data available from Euromonitor in 2018:
The world is shifting toward higher protein consumption -
- Quinoa production up 265%
- Fish catch up 45.8%
- Meat and Poultry production up 23.9%
Water intensity increases –
- Agriculture accounts for 70.7% of global water withdrawal – the highest of all sectors
- Renewable water resources cu m per capita down 11.2%, but water withdrawal in agriculture up 1 percentage point at a time when other sectors recorded a decrease
Farming land shrinking –
- Agricultural land down 1.3%
- More pressure on agricultural land expected as urban population continues to grow
Greater drive for productivity –
- Global fertiliser consumption up 11.8%
- Crop yield in developed countries growing despite shrinking land due to innovative technologies
- Farming consolidation for scale and more expensive technology is on the rise