The Global Food Security program, which monitors food security in 57 countries, released a report on Friday showing that global food shortage and price hikes will triple by 2040.

As global population continues to rise, the food demand is predicted to exceed the supply. The Taskforce on Extreme Weather and Global Food System Resilience estimated that the population would increase by 1.7 billion by 2050 and would need more than 60 percent additional food production to meet the demand and prevent civil disorder, according to Reuters.

Technological advancements are keeping food production in check, but climate change continues to affect production due to floods and droughts.

"It is likely that the effects of climate change will be felt most strongly through the increasing frequency of extreme weather events such as droughts, heat waves and floods and their impact on the production and distribution of food - something we almost take for granted," Tim Benton, U.K. Champion for Global Food Security and acting ambassador and spokesperson for food security, told CBS News.

Researchers from the U.K. and the U.S. looked at the possible effects of climate change on food production in the next 30 years and over the century. Their calculation showed that major crop production would continue to drop to as low as 10 percent of the current production by 2070.

"It is very difficult to characterize these extreme events and their frequency, but what we do see quite clearly is that events that are very rare in the present day are becoming more frequent in the future," Kirsty Lewis, one of the authors from the U.K'.s Met Office, told BBC News.

"The most extreme events of the future are likely to become more intense, so potentially larger shocks and more frequent shocks."

The task force recommends to policymakers that they start preparing for the future and improve the resilience of the food system against climate change, especially in North and South America and Asia, which produce most of the world's four major crops - maize, soybean, wheat and rice. Africa and the Middle East are also hotspots.