Underlying these rapid changes are macro forces influencing how the world produces, distributes, buys, sells, and consumes food. Global population growth is expected to exceed 20%, and the shift from rural to urban life will increase demands for future food stocks and shorter, more efficient supply chains.
In addition, wealth inequality continues to widen, creating disparities in access to healthy food amongst socioeconomic and income groups. Consumers will continue to seek ways to improve their diets to manage health and wellness, to counteract escalating obesity and non-communicable diseases.
Food production will continue to be vulnerable to the impacts of rising global temperatures, with water stress and drought becoming more common.
Advances in technology and open access to capital will fuel an explosion of business model innovation. New competitors will redefine consumers’ expectations, offer uniquely different value propositions, and rapidly disrupt global competitive landscapes.
All is not bleak; on the contrary, this is an exciting time for consumers and those responsible for bringing food to us.