The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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With turnover of USD521 billion in 2017, Western Europe is currently the word’s third-largest agricultural producer. However, WE is forecast to stagnate, as production output growth is hampered by unfavourable trade context, decreasing arable land, environmental regulations, and changes in consumers’ dietary preferences..
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Western Europe is the third-largest producer of agricultural goods and the second-largest producer in per capita terms. The industry’s performance has been shaky due to shrinking arable land, unfavourable weather conditions over the past few years, and declining commodity prices. Going forward, agricultural production in WE is expected to sustain a modest 0,2% CAGR over 2017-2030.
Major agricultural markets in France, Germany and Italy continuously recede as concentration on more value-added production rises, expensive arable lands shrink, weather conditions bring moderate yields and consumers change their dietary preferences. The slow recovery of global commodity prices will also continue to add negative pressure.
Extended Russian food embargo and future changes in trade terms after Brexit further weaken the WE agriculture sector. In addition, the EU’s commitment to importing production from the least developed countries duty-free is to further weaken local production’s future.
in 2018 and a 3,3% CAGR over 2017-2030. The Netherlands, the third-biggest exporter in the world thanks to investments to hi-tech advances and innovations, is to see a more modest 2018-2030 CAGR of 0.6%. Turkey continues to resist WE trends and expand the sector due to favourable climate, large arable lands, and proximity to major regional markets. Agricultural production is forecast to grow at 4%
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.