As we turn the calendar to 2022, it can be exciting to think about the trends that will shape agribusiness this year and the future of farming. From technological advancements to sustainability initiatives, emerging innovations have the potential to revolutionize the industry.
While you are making plans for this upcoming season, it’s also a good idea to check in with your insurance agent to ensure you have the proper coverages in place. The professionals at Heritage Insurance & Real Estate can discuss your agricultural and crop insurance needs. Contact us today for additional information.
What Are Agribusiness Trends for 2022?
Agribusiness continues to evolve and these developments will continue to impact the industry in both the short and long term. Keep an eye out for the following trends in 2022:
· Supply chain transparency—Consumers are increasingly interested in knowing the source of their food and how it was shipped and stored. The use of blockchain technology and its decentralized ledger in supply chain management could assist in providing this desired transparency.
· Electric vehicles—The availability and use of electric cars are increasing, and this trend could impact agribusiness as decreases in demand for ethanol could impact the corn market.
· Water use reduction—Agriculture accounts for a high percentage of all water usage in the United States. Farmers are increasingly looking for ways to reduce their water consumption. Some methods include harvesting it from fields or reusing it.
· Plant-based alternatives—With changing diets and consumer habits, there has been growth in the demand for plant-based proteins. Even though these alternatives represent a low percentage of the overall protein market, this development could impact agribusiness moving forward.
· Technology—Technology will continue to play a major role in farming. From apps to drones to soil sensors, innovative tools can be used to monitor everything from crops to the weather. While it is difficult to predict all the ways technology will impact agribusiness, it is safe to say it will continue to be an integral part of farming in 2022 and beyond.
Heritage Insurance & Real Estate proudly serves Coon Rapids, Jefferson, Des Moines, Fort Dodge and surrounding areas in Iowa. As you continue to adapt to these different trends, it is important to consider the insurance needs for your operations. Our agents are ready to help you navigate through the different options and policies. For more information, please call us at 800-850-2263 or visit our website.