What Asia Wants: Long-term agrifood demand in Asia - 2023 Revision

Authors: Ahmed Hafi, Jordan Parker, James Fell, Andrew Duver and Donkor Addai

Overview

In 2050, Asia is projected to have 5.3 billion consumers, representing 55% of the world’s population.

This presents opportunities for Australian agricultural exporters through the benefits of a large consumer base with diverse preferences.

This research report identifies export market growth opportunities in Australia’s nearby region, contributing to an information base to support agricultural exporters’ diversification, while also helping policymakers to identify priorities for market access.

Key findings

• The value of Asian agrifood consumption is projected to rise by over 45% between 2020 and 2050.

• In India, population growth will be a major driver, helping to lift grains and dairy consumption by around 30%.
• In China, consumption of meat and livestock inputs such as feed and protein meal will rise, complemented by already high consumption of vegetables.
• In the ASEAN region, consumption of meat and crop products will drive stronger growth in import demand for grains and oilseed product.

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