Forecast: Value Added of Agricultural Products and Livestock in Australia

The value added of agricultural products and livestock in Australia has shown significant fluctuations over the past decade. As of 2023, it stood at 45.17 billion Australian dollars. The year-on-year growth rate has varied, with notable increases in 2016 (19.64%) and 2020 (23.76%), contrasted with declines in 2017 (-5.6%) and 2019 (-4.62%). The Compound Annual Growth Rate (CAGR) over the past five years leading to 2023 is 3.92%.

Looking ahead, from 2024 to 2028, the market is expected to grow with a forecasted 5-year CAGR of 1.76%, resulting in a cumulative growth rate of 9.11% over the period. This suggests a more stable yet modest growth trajectory compared to previous years.

Future trends to watch for include:

• Impact of climate change and extreme weather events on agricultural output.
• The role of technology and innovation in enhancing productivity.
• Global market dynamics and trade policies affecting export potential.
• Diverse consumer demands and shifts towards sustainable farming practices.