Satisfying the consumer demand for agricultural products: Possibilities and its prediction

Abstract

In the modern world, consumer preferences and demand for agricultural products are constantly changing. Meeting these demands efficiently and effectively is crucial for the sustainability and profitability of the agricultural sector. That is why it remains important to study the demand for agricultural products and find methods to predict it. The research aims to investigate the main factors that influence the demand for agricultural products. The main methods used in this study were analysis, abstraction, forecasting and modelling. The article examines the level of demand satisfaction, the current situation and opportunities depending on the scale of the market, the volume of goods and services, based on the fact that the satisfaction of consumer demand is one of the current problems in the world. The relationship between the development of agriculture and meeting the demand for food products and solving the problem of starvation was emphasized. Factors affecting consumer demand in agriculture – consumption costs, number of consumers, gross agricultural product, consumer price index, consumer incomes were analysed. On the basis of econometric analysis, the dependence between the optimization of consumer demand and the indicators related to it was determined. Using multi-factor linear correlation and multi-factor linear regression models, were described the level of actual and regression model consumption costs, as well as the forecast for the next years. The study contributes new knowledge to assess the level of demand for agricultural products