The world is rich with resources for the production of food, however, there is a marginal reduction in its supply, which has been poised as somewhat a constant challenge in the global food industry. Year in and out, many experts have dove into their repertoire of knowledge and experience to whip out a solution. Despite unrelenting efforts to manage the situation, the food crisis in the world seems to remain. However, this year’s projections have shown promises towards a remedy as well as new trends that may emerge. Some of the developments that will push food supply on a global scale in the year 2022 are highlighted below:
Even though the Sustainable Development Goal (SDG) to make the world hunger free was adopted in 2015; a recent article suggests the status is none the better. UN report estimated that between 720 and 811 million people will face hunger in 2020. It also presented that around 660 million people may still face hunger in the coming years, due to the lasting effects of the COVID-19 pandemic on global food security. This implies that nearly one in three people in the world (2.37billion) do not have adequate food to survive daily.
- More spotlight on Agritech
As the world becomes more developed with the advent of innovative technology, the world needs to adopt modern strategies to solve modern problems. Yes, the Food crisis has made common ground in the world for many decades, but the new age of civilization requires a much more modern strategy. Thankfully and owing to the recent pandemic, many stakeholders are beginning to recognize agricultural technology as essential for growth in the food industry. By implication of this development, tremendous progress in crop yields, farm productivity, plant and animal health, sustainability, waste reduction, and scalability is expected to be realized.
Consequent to the projection that there will be an increased digitized engagement, across the industry, automation is expected to increase. A recent report by the Guardian predicted that cobots, collaborative robots that can work alongside humans, will help the shortage of labour notable in on-farm operations.
The global food and beverage services market is expected to grow from $3,232.94 billion in 2021 to $3,678.61 billion in 2022 at a compound annual growth rate (CAGR) of 13.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
- Integration within the value chain
With the Nigerian population growing at 3.1% per annum and estimated to reach 400 million by 2050, there will be enhanced agricultural productivity in the sector. The adaptation of new technologies and innovation will ensure the availability of food and nutrition security, especially for the poor and the vulnerable. Agribusinesses are beginning to set up structures that enable an interactive integration between stakeholders within the value chain. Farmcrowdy is also playing its part in ensuring that all hands are on deck to address projected food crises. Massive support will be required from all private sector participants in the crop production value chain, including efforts by the federal and state governments in achieving this goal.
With all of these factors and projections and many more items which may have not been featured prominently in this article, the climate in the food industry is set to change. While it is recommended to set sights on taking advantage of the opportunities that 2022 may present, it is important to make preparations for possible challenges.
Sources:
https://www.un.org/sustainabledevelopment/hunger/
https://www.un.org/en/global-issues/food
https://www.foodmanufacture.co.uk/Article/2022/01/05/Food-industry-trends-2022-from-COVID-19-to-climate-change
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