The Prada bag of the food world?
With 7 billion people on this planet – and counting – there’s going to be a challenge to feed everyone. While the World Health Organization and others say we already produce enough food (the problem is distribution inequality), global markets will turn to new sources of protein and – word to all the Huhu grub farmers out there – that’s likely to be insects.
KPMG New Zealand’s global head of agribusiness Ian Proudfoot isn’t recommending we turn our fields to locust production. However, given we are capable of feeding only around 40 million, he sees the real opportunity for Kiwi food producers in the expanding premium market. New Zealand should be aiming to provide 5% of the diet of the 800 million richest people, he says.
“You want to be the high value bit of the diet, the food you eat because it aligns with your aspirations in life or to celebrate at exciting times,” he says. “You want people to eat New Zealand food because it’s the Prada handbag, because it makes them feel really good.”
That fits with the experience of NZTE business development manager in Australia, Peter Winter, who reckons one of the biggest trends across the ditch is premiumisation – anything from expensive ice cream to premiumquality prepared meals. »