The agricultural sector is one of the oldest “industries” of the human race, but it still retains its importance.
According to estimates by the Food & Agriculture Organization, agricultural sector is responsible for 60% of our food worldwide. Below are the 5 main trends in this particular financial sector that will contribute in changing it forever!
These two technology sectors have the potential to differentiate the agricultural sector as it still remains comparatively outdated.
Using biotechnology and agrotechnology, producers gain the ability to better monitor the course of their crops, as well as control their DNA, in order to strengthen their immune systems.
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Climate change will forever affect the agricultural sector. A shift in agricultural superpowers will occur, If global warming continues.
Countries such as Russia and Canada will have access to up to recently frozen, fertile territories. At the same time, traditional rural countries such as India will have to deal with extreme weather and less aquifers, which will reduce the efficiency of their soil.
We’ve never had the opportunity to see how Big Data could change agriculture, as so many other industries have changed.
But that will change in the years to come, as these new technologies are expected to bring yet another agricultural revolution.
An average farmer in the United States is 57 years old, and 30% of them are over 65. In the upcoming years, younger generation will recieve all the wealth, giving them an opportunity to become active in the agricultural sector.
The above is expected to be a boon for the industry, as its technological development is needed. An influx of new and innovative minds will empower the industry.
Agricultural production is becoming more and more specialized due to different market trends.
In today’s age, farmers tend to specialize in specific crops, but also in specific ways of production, such as organic, non-mutated, specialized, etc.
The greater demand for a healthier lifestyle brings many opportunities for differentiation, even to the smallest players in the market.
Sources: Challenge.org, Agweb.com, Forbes.com, FortuneIndia.com
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