Megatrends and the Australian Forest and Wood Products Sector – EY Research Report
This EY research report was Launched on Monday 23rd of May 2016 at Frame Australia by Senator the Hon Anne Ruston.
The forest products industry makes a significant contribution to Australia’s economy and rural community. According to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), the industry contributed $7.7 billion to GDP in 2013/14.1 Forest products exports were worth $2.8 billion and imports $5.1 billion. Over 70,500 people were employed by the sector in 2013-14.
EY was engaged by FWPA to conduct an analysis of the Australian forestry industry drawing on the megatrends affecting the global economy identified by RIRDC and CSIRO for the Australian agricultural sector.2 The five megatrends outlined by RIRDC and CSIRO are:
- A hungrier world — population growth driving global demand for food and fibre
- A wealthier world — emergence of a new middle class increasing food consumption
- Choosy customers — information empowered consumers demanding particular ethics, provenance, sustainability or health attributes
- Transformative technologies — advances in food and fibre production and transport
- A bumpier ride — changes resulting from globalisation and a changing climate