• • • Future of Food and Agriculture
SPINS Chicago is a data technology company that analyzes retailers’ data and consumer behaviors. Perteet Spencer, vice president of SPINS Chicago, says food and agriculture industries are experiencing a “new wave of wellness.” The insights, gathered from analysis of 10,000 to 15,000 stock keeping units (SKU) on consumer packaged goods per month, shows the following trends:
- About 46% of households are engaged in plant-based brands.
- Natural-positioned products are growing five times faster than conventional products.
- Plant-based alternatives are not going away, but the focus now needs to be on scalability, then transparency of ingredients.
- Brands that are doing well address sustainability throughout the supply chain – from sourcing ingredients to packaging.
What does this mean for regenerative agriculture? Regenerative agriculture, or farming practices that increase biodiversity, work for soil health, and improve water quality, remains a focus for the future. Don Wyse, professor at the University of Minnesota, comments that regenerative ag used to be known as low-input sustainable agriculture, and for it to be successful now, there needs to be an economic pull that incentivizes all stakeholders in ag.