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AIMPOINT RESEARCH STUDY REPORTS INNOVATIVE FARMERS WILL GROW FROM 41% TO 71%
Dec. 10, 2021
Agri-Pulse reports:
Farmers who are the most likely to respond to market demands from the food industry and consumers are going to make up the vast majority of farmers by 2040. That's a key finding from analysis the research firm Aimpoint has done projecting the future of U.S. agriculture.
Aimpoint classifies U.S. farmers in five different categories, depending on their personalities and approach to the business. The most innovative groups of farmers with high business acumen are classified as "independent elites" and "enterprising business builders." Together, those groups currently account for 41% of U.S. farmers. By 2040, they will make up 71%, according to research presented at the American Seed Trade Association's annual meeting in Chicago.
Those more innovative farmers are the first to shift practices and more likely to sacrifice some independence to get access to markets, says Aimpoint's Sarah Tveidt.
Farmers categorized as "classic practitioners" now make up 24% of farmers. Their share is expected to drop to 4% by 2040. Those farmers tend to struggle more and have a greater reliance on safety net programs.
Take note: Consumers are viewing technology in food production more positively as sustainability concerns become more important to them, Tveidt says.
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