5 Agriculture Trends to Watch in 2023

Food consumption reaches new heights as agricultural sectors face challenges

The agricultural industry is facing a vital challenge to keep up with the increasing demand for food. As the world’s food consumption reached 2.5 billion metric tonnes in 2021, according to data from Statista, it is imperative for the industry to stay ahead of current trends and tackle the effects of climate change. In 2023, it is crucial to monitor the following five trends in the agricultural sector.

1. Artificial Intelligence: The advancement of technology is changing the way the agricultural industry operates. Artificial intelligence (AI) tools continue to play a significant role in helping workers manage resources more efficiently and respond to food production demands. AI can aid in tasks such as soil health monitoring and crop spraying, enabling organizations to stay ahead in the digital age.
2. Bioengineering: The application of science and engineering to food production systems is continuously advancing. The recent $2.5 million investment by the government to build Canada’s only biomanufacturing facility dedicated to sustainable agriculture and innovative food ingredients is a testament to this trend. Bioengineering techniques allow organizations to genetically modify foods to increase their quality, thereby meeting consumer demand for superior produce.
3. Regenerative Agriculture: As the world pushes towards reversing the effects of climate change, regenerative agriculture aims to restore degraded soil biodiversity and revitalize the environment. Planting diverse crops to improve soil health and reducing fertilizer use may become more widespread, as organizations aim to mitigate the effects of global warming.
4. Water Management: The impact of global warming on water resources is a growing concern for the agricultural sector. In 2023, organizations may need to take steps to monitor and manage water usage, such as investigating rainfall harvesting and wastewater reuse, to ensure sustainable water management practices.
5. Drone Technology: Drones are revolutionizing the way organizations gain insights into crops and manage operations. Drones are ideal for precision tasks such as soil and digital elevation mapping and crop scouting, allowing organizations to plan and manage their operations efficiently.

The agricultural industry is facing a rapidly evolving landscape, with new trends and challenges emerging every day. However, with the right insurance partner, organizations can feel confident and prepared to tackle these challenges head-on. CMB Insurance understands the unique risks faced by the agriculture industry and is committed to providing insurance solutions that help their clients navigate these challenges.

With a focus on staying ahead of industry trends and providing the latest in coverage options, CMB Insurance is the ideal partner for agriculture organizations looking to secure their future. Whether it’s protecting against unpredictable weather patterns, ensuring proper water management, or covering the latest in technology advancements, CMB Insurance has the expertise and resources to provide the coverage their clients need. So, as the agriculture industry continues to face new challenges, organizations can feel confident and ready to tackle the future with CMB Insurance by their side.

For more information on risk management, farm insurance, or to find out how to reduce your insurance costs call CMB at 780.424.2727 or click here to get a quote.