UOB bank
June 2019
In addition to population growth, increased demand for protein globally has been driven by rising incomes, increasing urbanisation and aging population, where the contribution of protein to healthy aging is increasingly recognised. As a result, the global challenge to increase animal protein production sustainably will become an important goal for all nations to achieve.
Over the last three decades, animal protein consumption in low and middle-income countries has more than tripled. According to projections by the United Nations (UN) Food and Agriculture Organisation (FAO), the demand for animal protein from these countries will grow another 80% by 2030 and more than 200% by 2050.
As a result, there is a need to accelerate production through improvements in efficiency, deployment of technology and effective supply chain management.
As livestock production evolves, opportunities to improve the food production industry at a sustainable rate can be achieved through cross-border integration, the adoption of agriculture technology (AgTech) and the use of alternative protein sources in feed ingredients.
For companies in the animal protein sector looking to expand or adopt new technologies, UOB is able to offer customised banking solutions. Please contact us here.
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