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Megatrends Affecting Agribusiness: From Challenges to Opportunities

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Agriculture as an Alternative Investment

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Abstract

This chapter looks at the global forces of change that are currently crossing the agribusiness industry. It highlights the consequent challenges that the sector is called to overcome in the coming years and identifies the technological innovations emerging along the industry value chain that might contribute to tackling these challenges. More specifically, we start with an overview of the political, economic, social, technological, legal, and environmental megatrends that are sha** the business world in its entirety. We then investigate how they mutually reinforce or mitigate one another, to finally pinpoint the most influential ones, the so-called driving forces. Given this context scenario, the chapter goes on to delve into the agribusiness industry to examine which megatrends are particularly relevant for the sector, transforming its prevailing dynamics and production models. While like other industries, agribusiness is influenced by a large number of megatrends, its inherent function for society makes it the key to overcoming the consequent challenges, in particular, from the previously identified driving forces, to guarantee humanity’s future prosperity. Such evidence raises the question as to the means available to meet these challenges, leading to the second part of the chapter, which focuses on technological innovations as part of the solution and scans the industry value chain to reveal the most promising innovations rising along it.

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Notes

  1. 1.

    The term “Green Revolution,” first used in 1968 by William S. Gaud, administrator at the United States Agency for International Development, commonly refers to the period from 1965 to 1980. At this time, high-yielding crop varieties, starting from rice, wheat, and maize developments (Griffin, 1979) and related technologies and policies were exported to Asia and Latin America through international research institutes and donor networks (Brooks, 2005). This process was triggered to find a technological solution to the so-called Malthusian catastrophe, namely the moment when the population (exponential growth) outpaces the food supply increase (linear growth), causing famines, wars, and depopulation (Goodman & Redclift, 1991).

  2. 2.

    Even though concentration varies across countries and product categories, the global seed, crop protection chemicals, and biotechnology market are currently dominated almost entirely by four companies. Historically, Monsanto, Bayer, BASF, Syngenta, Dow, and DuPont were once the “Big Six,” but recent mergers, driven by the portfolio complementarity of some of these players, have reduced their number to four (Bayer-Monsanto, DowDuPont/Corteva, ChemChina-Syngenta, BASF) (Deconinck, 2020)

  3. 3.

    The term refers to firms adding services to their offering as a means of increasing competitiveness, turnover, and market power (Vandermerwe & Rada, 1988).

  4. 4.

    PESTLE is the acronymic for politics, economics, society, technology, law, and environment. PESTLE analysis is a theoretical framework that businesses can adopt to assess the external factors that (may) affect the context in which they are operating or in which they plan to launch new operations, and adapt their strategy accordingly (Aguilar, 1967).

  5. 5.

    The DEVO Lab is the SDA Bocconi’s center of excellence for the study of digital technologies and their implications for companies. The HIT Radar is the tool developed by the DEVO Lab to evaluate the impact, ecosystem, and dynamics of digital technological objects for mid- to large-size enterprises. Within the HIT Radar, the taxonomy classification is the process that allows us to clearly identify and categorize the collected technological objects, to then accurately highlight the relationships between them (Castelli et al., 2022).

  6. 6.

    Hydroponics, aeroponics, and aquaponics are agriculture systems that replace soil with nutrient-rich water for plant feeding. Hydroponic systems use only a medium (e.g., sand, gravel, or peat), water and added nutrients to grow plants. Aeroponic systems replace mediums with air: plants’ roots are suspended in dark enclosures and sprayed with nutrient-rich solutions. Aquaponic systems, instead, merge hydroponics and aquaculture, growing plants and fishes in a common integrated environment (AlSrouf, 2017).

  7. 7.

    The price of the product available at the farm, excluding the transport and delivery price.

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Authors and Affiliations

  1. AGRI Lab, SDA Bocconi School of Management, Milan, Italy

    Vitaliano Fiorillo, Marianna Lo Zoppo & Aristea Saputo

Authors
  1. Vitaliano Fiorillo
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  2. Marianna Lo Zoppo
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  3. Aristea Saputo
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Correspondence to Vitaliano Fiorillo .

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Editors and Affiliations

  1. ANTIN IP Professor of Infrastructure Finance, Department of Finance, Bocconi University, Milan, Italy

    Stefano Gatti

  2. Department of Finance and Accounting, CUNEF Universidad, Madrid, Spain

    Carlo Chiarella

  3. AGRI Lab, SDA Bocconi School of Management, Bocconi University, Milan, Italy

    Vitaliano Fiorillo

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Fiorillo, V., Lo Zoppo, M., Saputo, A. (2023). Megatrends Affecting Agribusiness: From Challenges to Opportunities. In: Gatti, S., Chiarella, C., Fiorillo, V. (eds) Agriculture as an Alternative Investment. Contributions to Finance and Accounting. Springer, Cham. https://doi.org/10.1007/978-3-031-27918-8_1

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