The A$200 billion opportunity in 2030 for the Australian food and agribusiness sector
From droughts and bushfires to a pandemic, Australia’s food and agribusiness industry (Industry) has navigated major disruptions in recent years. These events aside, the Industry has an immense opportunity before it to deliver greater value for the Australian economy. We must look to invest and innovate to ensure our ongoing resilience and prosperity – 'business as usual' (BAU) will not suffice.
In this context, The Food and Agribusiness Growth Centre (FIAL) commissioned a report Capturing the Prize that identifies 19 Growth Opportunities with the potential to grow the Industry’s annual value-addition capability from its current $61 billion per annum to over $200 billion per annum by 2030. The Growth Opportunities identified in Capturing the Prize are supported by 10 Future Trends impacting food production and consumption in Australia and its key export markets, and have the potential to boost the Industry’s competitiveness, stimulate employment and economic significance.
These Growth Opportunities are underpinned by rapidly emerging technologies, which transform how food is produced, how it is distributed and tracked in the supply chain, shifting consumer preferences, and how it finally reaches our plates. Capturing the Prize has identified that this potential transformation of the Industry could create an additional 300,000 jobs by 2030.