Food manufacturing key to food security
According to a recent FCC Economics report, Canadian food manufacturing plays a crucial role in addressing the need to sustainably feed a growing global population.
Food is the largest manufacturing sector in Canada by both employment and sales. The sector is poised to be a world leader in sustainable food production.
“If we’re going to tackle some of the most pressing challenges facing our planet like hunger, global health, climate change and stagnant economic growth, we need to build new and ambitious partnerships with key sectors like food manufacturing,” said Krishen Rangasamy, Farm Credit Canada manager of economic insights. “To fully capitalize on this opportunity, we also need to engage investment and innovation by those in our industry and beyond.”
With the world’s population expected to exceed 9 billion by 2050, the Food and Agriculture Organization (FAO) estimates that agricultural production needs to increase by 60 per cent over 2005 levels. The challenge requires producing more food with the same or fewer inputs- a task that Canadian food manufacturing is well-positioned to tackle as it makes the most of the potential created through smart manufacturing and digitization.