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Research Outline
Prepared for Strategy T. | Delivered March 3, 2020
Commercial Farming Industry Trends
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Goals
To guide a digital strategy and content creation for a client by researching 5-7 trends that are influencing the commercial farming industry at a global level and any potential opportunities the industry is facing.
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Early Findings
Use of Farm Robotics
Robotics
are being used in the "agricultural value chain" for planting, harvesting, and grocery logistics. There has also been a demand for robots in
fruit picking farms
.
John Deere
recently acquired Blue River Technology, a tech startup that created a robot that is able to identify unwanted plants and spray them with herbicides that would help reduce input costs.
It's estimated that by
2024
robots will push the farm industry to a "$5.7 billion
a
g
b
o
t
industry."
Competition for Natural Resources
The
Food and Agriculture Organization of the United Nations
stated in a 2017 report that projections for 2050 state there will be a large scarcity of natural resources for agriculture.
The competition for these limited resources could lead to
o
v
e
r
e
x
p
l
o
i
t
a
t
i
o
n
and degradation
.
The
report
continues to state that even though global agriculture has become more efficient, the rise in consumption and human population has led to intensified competition.
Structural and Employment Change
High-income countries
are switching from traditional agriculture to service and industry.
A
shift
towards manufactured goods and dietary changes have developed from the interstate movement and reallocation of labor.
In response to this,
farmers
have changed from farming multiple crops to a single crop, dealing in cash crops, and selling in markets.
Indoor Farming
Vertical indoor farming
is one of the fastest growing trends in global agriculture.
In fact, the
2018 U.S. Farm Bill
allocated an annual allotment of $10 million to develop "urban agriculture and supporting projects."
A
major selling point
of this trend is this type of farming is pesticide and herbicide free.
Whole Foods
is one of the major companies that has implemented this type of farming.
Potential Opportunities
While
m
o
n
o
c
u
l
t
u
r
e
s
have grown in the world, researchers of global farming/
a
g
argue for diversification since it is more ecological and supports the environment.
A
couple
of other opportunities in the global farming industry is the use of digital technologies and governments creating new policies to align with current environmental issues.
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