Recently I had the opportunity to engage with and address the AGR Partners Food and Ag Roundtable in conjunction with Berkshire Hathaway's Annual Shareholder Meeting in Omaha, Nebraska. The event attracted global representation from across the food and agribusiness industry—business owners, investors, and thought leaders alike. A highly motivated Gen Z group also joined, offering fresh perspectives on the future. The following are key insights from 48 hours of intense presentations and engagement during hallway and table talk.
Health and Wellness: Food as Proactive Healthcare
A major megatrend for the agriculture industry will be health and wellness where food and fiber are the answer in proactive health. Consider this:
- One in five dollars of the national budget is devoted to healthcare costs — three times as much as other developed countries
- Much of this cost can be attributed to administrative overhead and product markup
- Collaboration between the medical field and food/nutrition sectors is emerging as a critical trend
As baby boomers age out, the next generation of consumers will establish a platform for healthier lifestyles. According to experts at the conference, animal protein needs increase with age and will be part of the solution alongside exercise, sleep, and lifestyle adjustments.
The Carb Challenge: The carbohydrate to protein ratio in American diets is currently 4-to-1. However, shifting toward a 1-to-1 ratio could help address prediabetic conditions and other health issues linked to excessive carbohydrate consumption
Health Tech Integration
Many attendees wore mobile devices tracking various health measures including heart rate, sleep patterns, and exercise. Health and wellness with enhanced tracking systems and predictive analytics represents a future trend connecting the medical field with agriculture.
AI Adoption Accelerating
Ninety to ninety-five percent of attendees were using artificial intelligence tools like ChatGPT for information and strategy development. Notably, 10 percent were paying anywhere from $10 to $200 monthly for refined data and reports with higher confidence and accuracy. Expect this to be a fast-paced trend across all levels of the agricultural industry.
Gen Z Perspectives
The Gen Z focus group provided valuable insights:
The Gen Z focus group provided valuable insights:
- Social media presence is critical for agricultural businesses to effectively connect production and processing to consumers
- They strongly dislike "dupes" or knockoffs in clothing, foods, and other products as these break down trust and sincerity
- Interestingly, green energy and environmental concerns weren't high priorities—a shift from last year's focus group
- Gen Z attendees from outside the U.S. reported increases in smoking, vaping, and marijuana use, while opinions on alcohol consumption trends were mixed
Other Quick Insights
- Trust, more than communication, is critical in a successful business culture
- Sharing and collaboration makes everyone smarter and encourages moving beyond siloed thinking
- Large investment funds are targeting U.S. land, similar to historical patterns in South America, Australia, and other regions
This is just an appetizer: Expect more perspectives to come in my future columns!