The global food and agriculture industry is a trillion-dollar sector that is growing exponentially. According to findings from the World Bank, agriculture alone accounted for 4% of global domestic product, or GDP, f the United States in 2018. The report further noted that agriculture could account for more than 25% of GDP in developing countries.
Meanwhile, it’s important to point out that large corporate farms play a dominant role in the agriculture industry. For instance, research from the United States Department of Agriculture (USDA) shows that major farms accounted for 89% of food production in the U.S. in 2015.
This appears to still be the case, as key agricultural markets remain dominated by very few companies. This has become even more apparent, as the USDA recently announced plans to invest $500 million to help ensure that U.S. agricultural markets are more fair and accessible to small farmers and ranchers.
Although government funding could help significantly, farmers across the globe are