Food is the new oil. As the world population surpasses seven billion, we are beginning to experience food scarcity in ways we never imagined. Extreme soil erosion, growing water shortages, and the earth’s rising temperature are making it more difficult to expand production. As systems that have been in place for hundreds of years break down, major opportunities in business are presenting themselves. Nowhere is this truer than in the urban farming industry. Rising fuel prices are driving Americans from the suburbs back into the cities. Demand for locally grown produce is rising. Cutting edge grow systems like aquaponics are producing greater amounts of produce with less energy, while the organic food market continues to gain momentum and shows no sign of slowing down.
Fueled by the public’s increased understanding of the ramifications of genetically modified food products, U.S. organic foods sales are forecast to reach $42 billion in 2014. 30% of that $42 billion will be from the sale of organic fruits and vegetables. Additionally, the Lifestyles of Health and Sustainability (LOHAS) market is a $300 billion a year marketplace for all things green and sustainable. LOHAS consumers are one of the fastest growing demographics in the world and will pay up to 40% more for products that align with their core values; this growing customer base can only bolster sales in the organic food market.
(Financial projections and budgets have been left out of this presentation.)