Identification of Emerging Industries for RD&E Investment

Summary

AgriFutures Australia has commissioned this project to identify emerging agricultural industries with strong potential to benefit from targeted research, development and extension (RD&E) investment. The project will deliver a transparent, evidence-based framework to assess and prioritise industries that align with AgriFutures’ strategic goals and Australia’s unique agricultural conditions.
The project will be delivered in four stages:

Literature and data review: synthesising existing foresight studies, industry scans, and trend analyses to identify structural shifts and opportunities across Australian agriculture.
Framework development and validation: establishing robust criteria to assess industry feasibility, market potential, strategic alignment, comparative advantage, and resilience, tested through stakeholder engagement.
Industry identification and ranking: applying the framework to assess both incremental and transformational opportunities, including enabling sectors such as inputs and circular economy models.
Synthesis and delivery: producing a prioritised shortlist of 5–10 emerging industries with supporting rationale and industry overviews.

By achieving these objectives, the project will enable AgriFutures to make informed, strategic RD&E investments in industries that are well-positioned to grow, diversify Australia’s agricultural economy, and respond to evolving market, environmental and technological conditions. The framework will also provide a repeatable method for future assessments, supporting long-term planning and investment decision-making.

Program

New and Emerging Industries

Research Organisation

Commonwealth Scientific and Industrial Research Organisation (CSIRO)

Objective Summary

The project will deliver a structured, evidence-based framework and actionable insights to guide AgriFutures Australia’s future RD&E investments in emerging industries. The key objectives and expected outcomes of the project include:
Objectives

Synthesise existing literature, data and foresight studies to identify trends, gaps and opportunities relevant to emerging industries.
Develop and validate robust criteria for assessing industry feasibility, market potential, strategic alignment, comparative advantage, and resilience.
Apply the framework to systematically assess and rank emerging industries, including cross-sectoral and enabling industries.
Deliver a final report that supports AgriFutures in initiating targeted RD&E planning and industry development activities.

Expected outcomes

AgriFutures Australia gains a clear, evidence-based understanding of which emerging industries are most likely to benefit from RD&E investment.
AgriFutures will be able to use a repeatable and transparent framework to conduct future assessments of emerging industries efficiently, effectively and consistently.