The Australian Food and Agribusiness sector is set to unlock over $200B in value and 300,000 jobs by 2030. But we need you to make it happen.
Despite the extraordinary challenges and disruption this past year has presented Australia’s food and agribusiness sector – its future is immensely positive.
Recently the Food and Agribusiness Growth Centre released a report which exceeds all previous estimates for the sector’s potential. The report – Capturing the Prize – found that the food and agribusiness sector could be 2-3 times its current value, reaching over $200 billion on a value-add basis by 2030.
This latest estimate is more than double that made by both the National Farmers Federation and CSIRO, largely explained by the Growth Centre’s work covering both pre- and post-farm gate value-add, or the entire supply chain from farm to food.
Capturing the Prize outlines the path to unlock this $200B potential by identifying 19 Growth Opportunities. If pursued, these Growth Opportunities will not only unlock $200B in value but will create an additional 300,000 new jobs by 2030.
Since releasing Capturing the Prize, the Food and Agribusiness Growth Centre has convened over 100 technical and commercial experts, leaders, and decision-makers across the agri-food value chain – including all parts of the value chain, commodities and industries – to develop draft Roadmaps for each of the 19 Growth Opportunities identified.
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“We wanted to convene a small group of industry and research leaders to work collaboratively in developing draft Roadmaps that will unlock the whole of value chain potential. But this is just the first step of the ambitious journey required for the sector to realise its $200B potential,” Dr Mirjana Prica, managing director of the Food and Agribusiness Growth Centre said,
The Food and Agribusiness Growth Centre is now seeking feedback from a much larger cohort of stakeholders – any business, research organisation or individual involved in the food and agribusiness sector.
With over 90 per cent of the 176,000 businesses within the agri-food sector being small to medium businesses, the sector needs to explore every opportunity to overcome the scale, capacity, innovation, infrastructure, and cultural challenges.
“We are seeking your involvement and feedback on the draft 19 Growth Opportunity Roadmaps. Unlocking the $200B potential is not a foregone conclusion.
Already 93% of participants involved in the initial consultation phase have indicated they are either already acting or going to act as a result of being involved in this initial process.
“It is extremely rewarding to see action has already started. This work really has the potential to not just be another report, but to transform the sector through focused and coordinated pursuit of the 19 Growth Opportunities. To thrive, the sector must rethink how it operates, harness the collective expertise, and avoid duplication of effort and investment. Success is contingent on the sector working as whole-of-value chain,” said Dr Michele Allan, chair of the Food and Agribusiness Growth Centre.