With world population expected to grow nearly a third by 2050, agricultural production will need to increase by approximately 70 percent to meet the needs of 9 billion people around the world. As incomes are projected to increase in developing countries around the globe, the demand for high-value plant-based products, as well as livestock and dairy products, is expected to skyrocket.
It seems simple enough. What is a farm? The U.S. Agriculture Department defines it as "any place from which $1,000 or more of agricultural products were produced and sold, or normally would have been sold, during the year." "Very large farms" are defined as having gross sales of more than $500,000.