What is an emerging industry?
Emerging industries are those new industries with high growth potential. Emerging animal and plant industries play an important part in the Australian agricultural landscape, they contribute to the national economy and they will be key to meeting changing global food demands.
AgriFutures Australia supports a number of emerging rural industries including native plants such as kakadu plum, seaweeds and native pepper, as well as newer additions to Australian agricultural flora such as quinoa, hazelnuts and coffee. Emerging animal industries including sea urchin, camel milk, game birds, working dogs, alpaca and crocodile have also received funding to support RD&E.
AgriFutures Australia has developed a layout for visualising the Emerging Industries Program strategy.
The layout shows distinct developmental phases of emerging industries with guidelines to define them. Success criteria are described for each developmental phase. The Australian Tea Tree Oil industry, for example started at Phase 1 and is now ‘emerged’ as a levy paying industry.
We’ve set an ambitious goal of identifying and supporting the emergence of agricultural industries that can reach or exceed a $10M per annum threshold in the next five years.
Research funding is provided in the context of clear commercial growth strategies for developing emerging industries. Research funding for the AgriFutures Emerging Industries Program is provided by AgriFutures Australia and industry voluntary contributions.
Industry Advisory Panel
AgriFutures Australia is committed to working with industry to deliver research and development outcomes. We work in partnership with advisory panels to decide on research priorities and to make investment decisions each year.
For future funding opportunities register for the AgriFutures Emerging Industries newsletter.
Looking to diversify
Farm Diversity is an AgriFutures Australia initiative that allows farmers to search crop and animal production alternatives by type or location to discover what is best suited to their farm.