Agribusiness is one of the most important sectors of the global economy, responsible for being part of the population’s food supply and a key factor in the economies of several countries. In a scenario of challenges and opportunities, it is important to know the main agribusiness trends for 2024.
In this article, you will find some of the main trends in the fastest growing sector in the world. Check it out!
A matter of necessity
According to the UN Food and Agriculture report, the world population is expected to reach 9.7 billion in 2050, which will increase the demand for food by 50%. Thus, agribusiness will need to find ways to produce more food in a sustainable way.
One way to increase this production is working on the efficiency of agricultural operations. Technological advances, such as AI, quantum computing, and IoT (Internet of Things), for example, can help increasing agricultural efficiency. Which brings us to the first trend:
AI applied to cultivation
Technology will continue to be an important driver of the agribusiness growth. Currently, artificial intelligence is being used to:
- Plague and disease detection: many companies use drones to collect data about crops, which are analyzed by artificial intelligence to identify plagues and diseases.
- Crop monitoring: the use of drones and satellites allows farmers to monitor their production remotely, identifying areas that need irrigation or fertilization.
- Irrigation management: artificial intelligence can be used to manage the use of irrigation efficiently, ensuring plants receive the right amount of water.
- Task automation: artificial intelligence can be used to automate agricultural tasks, such as harvesting and plantating, for example.
Quantum computing
Another trend you can (and should) know about. Quantum computing has the potential to revolutionize agribusiness with its applications, such as:
- Development of new animal medicine: quantum computing can be used to identify new chemical compounds with potential to treat diseases in animals.
- Better fertilizers: technology can also be used to develop new fertilizers that are more efficient and less harmful to the environment.
- New food production methods: with this resource, it is possible to develop new food production methods that are more efficient and sustainable.
Genetics in agribusiness
Genetically Modified Crops – or GM Crops – are a controversial technology, but it has the potential to increase productivity and resistance to plagues and diseases. This is because these crops have been developed for a variety of purposes, including increasing productivity, improving nutritional quality, resistance to plagues and diseases, tolerance to adverse environmental conditions, among others.
GM Crops can help farmers increase the productivity of their crops, even in adverse climatic conditions. They can also help reduce the use of pesticides and herbicides, making them a good option for the environment.
Sustainability
And as the eyes of the world are (focused) on the “environmental” issue, in agribusiness it would be no different. Consumers are increasingly concerned about the sustainability of this sector, so it is now necessary for producers to become more sustainable to meet the demands of their consumers.
One way to make agribusiness more sustainable is to invest in sustainable agricultural practices, such as low-carbon and regenerative agriculture. Another alternative is developing new sustainable products and services, such as compostable packaging and organic fertilizers.
Now that you know some of the main trends in agribusiness for 2024, how about starting your specialization in this topic? If you are looking for a specialization, the MBA USP/Esalq in Agribusiness can be the right choice for your career, regardless of the moment your carrer is now. Take this opportunity to learn (more) about/with our course!
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