Animal protein sources will see increasing substitution as the world demand for protein grows. That is according to Ian Proudfoot, global head of agribusiness for KPMG New Zealand.

Speaking at the ASA annual conference, Ian said consumer preferences and demands were changing and that agriculture would have to change accordingly. He said there was no doubt that “we will see substitution” and there needed to be an acceptance there was now more than one type of food system.

“Whether it be alternative proteins or veganism, people will eat what they want to eat. For some that will mean agnostic proteins. However, there will be those that will pay a premium for traditionally, naturally produced meat.”

The world now works on emotion

A sentiment shared by his fellow panel members, economist Michael Wallace of UCD and Peter Coppes of Rabobank, was that social media was growing in importance. They noted, despite the fact social media figures and “influencers” represented less than 1% of the population, the coverage they could obtain in mainstream media meant their influence could not be underestimated.

“The world now works on emotion,” Ian said. All panel members agreed that society’s perception of farming was increasing in importance and that farmers also needed to get their message out there.

He said the consumer was fast moving to the centre of everything businesses did. He added companies were now bringing solutions to the consumer rather than pushing what they traditionally produced.

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