Food and agribusiness: a roadmap for unlocking value‑adding growth opportunities for Australia
Food and agribusiness markets are evolving rapidly. A rising global demand for food must be met despite harsher and less predictable farming conditions; supply chains are more globally connected than ever before despite increasing geopolitical instability; and technology advances are disrupting every element of the value chain.
Consumers are evolving too, demanding: convenience for both in- and out-of-home consumption; a broader range of flavours and food based experiences; customised offerings; more information about how and where their purchase originated; and products that improve mental and physical wellbeing.
Over the next 20 years, Australia’s F&A sector has the potential to strengthen its position as a small but significant exporter of sustainable, authentic, healthy, high quality and consistent products. Underpinning this vision will be local businesses who embrace the existing volatility and possess the agility to continually and proactively seek opportunities to create new markets.
Enhancing the proportion of on-shore value-adding will be key, whether it be through the creation of unique products for niche markets or through developing varieties of commoditised goods with unmatched quality attributes and competitive production costs.
Sustained growth in the sector will require proactive investment and translation of enabling science and technology, involving transdisciplinary teams and transpartisan relationships. Five key growth enablers arose from industry consultation and are discussed in the Roadmap:
- Traceability and provenance
- Food safety and biosecurity
- Market intelligence and access
- Collaboration and knowledge sharing