Food Waste Still A Significant Booster For The Agriculture Market

The United Nations estimates that one-third of the world’s food goes waste either during agricultural production, handling and storage, processing, distribution or consumption. Partly as a result the global market is growing at 6.2% year on year, as a report from The Business Research Company shows, as suppliers attempt to keep pace with demand boosted by waste.

Affluent consumers often purchase more food that they actually require. The extra food they purchase is then spoiled over time and discarded. Supermarkets often require the fruits and vegetables to be fresh and clean for them to be considered for sale. Unsold and old stock of produce is all discarded which is leading to increased food waste. As these outlets spread in the emerging economies their waste increases, placing more demand on farming and their production volumes.

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The Asia Pacific region accounts for 55% of the agricultural market. As the region's consumption of agricultural production is also growing at above the global average, that proportion will only increase. By 2021 it will be worth $8.5 trillion out of a global total of almost $15 trillion. Africa and South America are the next biggest consumers of food and other agricultural products, at 13% and 9% respectively, though South America's growth rate is below the global average so it will fall behind by 2021.

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China at 20% of the total, India at 8% and the USA at 5.6% are the largest countries in the agricultural market. Per capita, however, the picture is very different. The average Indian consumes less than half as much agricultural produce as his or her Chinese equivalent and not much more than a third as much as an American.

The agriculture market is very fragmented with a large number of small players. However, some consolidation is under way. Merger and acquisition activities in the agriculture market have been at a high level in the last three years. Major deals have been put in place by Tyson Foods, Weyerhaeuser Company, Plum Creek Timber, Shuanghui International Holdings, Post Holdings, Del Monte Pacific Limited, JBS, JBS USA, Cutrale Group, Safra Group, Sumitomo Corporation, Rayonier Advanced Materials, Hormel Foods Corporation, BRF S.A., BTG Pactual, Alico Inc., Austevoll Seafood, Del Monte Foods Inc., Peak Rock Capital, and Highveld Honey.

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