Abundant Produce’s business model has been developed in light of the following key market trends:
- Growing world population—The world population is over 7.3 billion and is increasing at a rate of over 70 million per year.
- Decreasing per capita land availability—While the world’s population is increasing, the availability of land for agricultural production is compromised by urbanisation and land degradation.
- Increasing food prices—Global food prices remain high by historical standards in response to increasing populations, higher energy costs, increasing affluence and changing diets. Foodsecurity is now one of the most important global issues.
- Increasing demand for vegetables—As people around the world become more affluent, consumption of greenhouse vegetables is increasing while rice and other less nutritious staples decrease in importance.There is an increasing demand for innovative varieties with special marketable attributes such as unique colours, shapes and flavour.
- Increasing demand for higher yielding varieties—World food production needs to double between 2000 and 2050. Better crop varieties are required to produce more food from less and more degradedland to feed the world’s growing population.
- Increasing demand for hardy varieties—In the face of a changing and more variable climate, there is increasing demand for crop varieties that can perform under non-ideal growing conditions, such asdrought, temperature extremes and poor soils.
- Increasing use of advanced agricultural technologies—Demand for technologies such as hybrid seed is increasing globally as they provide benefits such as increased yields and helping crops sustain extremeclimatic conditions.