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.

Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

empty wooden bowl multi cultural hands

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.

© 2024 KPMG, a New Zealand partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Connect with us