The food gross production in Australia stood at 39.605 billion US Dollars PPP in 2023. The forecast from 2024 to 2028 shows a steady annual increase. The year-on-year variation from 2023 to 2024 is 0.60%, from 2024 to 2025 is 0.60%, from 2025 to 2026 is 0.59%, from 2026 to 2027 is 0.58%, and from 2027 to 2028 is 0.57%. Over the next five years, the compound annual growth rate (CAGR) is projected to average 0.59%.
Future trends to watch for include:
- Impact of climate change on agricultural productivity
- Technological advancements in farming practices
- Changes in global trade policies and their effect on export markets
- Shifts in consumer behavior towards sustainability and organic produce