Rising concerns about the food security issues around the world are fuelling a new market in food security technologies, according to business research company, Visiongain.
In its new report Food Security Technologies Market 2013-2023, Visiongain says food security technologies already represent a $US404 billion market in 2013, and this market will continue growing through the next decade.
Food security technologies include new agricultural biotechnologies, nanotechnologies, machinery, fertilisers, irrigation and chemical tools and these can help to produce enough food for the global population and provide access to food to people around the world, however, they will also have to ensure a balance between food availability and safety requirements, according to Visiongain.
They will also need to tackle issues such as famine, seasonal or chronic under-nutrition, micro-nutrient deficiencies and nutrient-depleting illnesses, especially in the least developed countries of Africa and Asia, according to Visiongain .
Visiongain said it consulted widely with leading industry experts including Dow AgroSciences and Green Biotechnology Europe (EuropaBIO) to create the report.
Nilsy Desaint, communications manager at EuropaBIO, said agricultural biotechnologies are being widely adopted globally, and this was increasing.
“According to the latest annual report from the International Service for the Acquisition of Agri-Biotech Applications (ISAAA), areas planted with GM crops in emerging and developing countries now exceed those of industrialised countries. It shows that this is a technology largely used by farmers in emerging and developing countries,” Desaint said.
Visiongain's report analyses the six major sub-markets over the period of 2013 to 2023.
Food security technologies already represent a $US404 billion market in 2013, according to Visiongain.
