According to the Australian Bureau of Agricultural and Resource Economics and Sciences and the CSIRO, the coming decades will present both great opportunities and challenges for farmers, government and the economy.
The two organisations have taken a look at the trends and their predicted impact in Stocktake of Megatrends.
With three billion empowered consumers worldwide, Australia's agriculture industry is facing a permanent race for advantage, with many 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 the sub trends we explore, involves challenges and opportunities,” Dr Greenville said.
“While the full implications of these megatrends might take decades to play out, it is useful to consider how we are positioned to respond to the changes coming our way.
“We find Australian agriculture has some crucial strengths, including a positive a long-term growth outlook in key markets, and our track record of market-driven productivity growth, innovation and competitiveness.
“Australian agriculture is well positioned, but it is critical that industry, government and communities have the tools and information they need to understand the risks and opportunities they face, so they can create a future they want.
“Well-informed decision making and risk management will remain central to Australian farming and we hope this Insights article supports this process.”
Stocktake of Megatrendsagriculture.gov.au/abares/products/insights/megatrends-2021 shaping Australian agriculture is available at: