Press release
Agriculture Global Market Analysis, Trends, Growth, Research And Forecast 2033
Agriculture Global Market
The agriculture market size is expected to see strong growth in the next few years. It will grow to $19286.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing sustainable agriculture practices, genetic engineering in crops, organic farming, vertical farming, water management solutionsglobal food security concerns. Major trends in the forecast period include precision agriculture technologies, integration of artificial intelligence in farming, digital marketplaces for agricultural products, utilization of autonomous farming equipment, adoption of farm management software.
Market Overview -
Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibers, biofuel, medicinal and other products used to sustain and enhance human life.
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Rising Demand For Food And The Agribusiness Expansion
The world's population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. According to the Agricultural Outlook by the Organization for Economic Co-operation and Development (OECD) and FAO (Food and Agriculture Organization) published, global cereal production was projected to increase by 13% by 2027. Crop production, farming activities, and trade volumes will have to increase to meet the needs of the increased population. Agribusiness companies will increase acquisitions of arable land to increase crop production. Agriculture companies are expected to increase their presence and activities to meet increased demand from farming activities and increase their growth.
Competitive Landscape -
Major companies operating in the agriculture market report are Cargill Incorporated, Archer Daniels Midland Co., BASF SE, Wilmar International Ltd., Dow Inc., Olam International, Bayer AG, Tyson Foods, Deere & Company, Nutrien Ltd., WH Group Limited, Yara International ASA, CNH Industrial NV, Kubota Corporation, Syngenta AG, The Mosaic Company, Corteva Inc., The Andersons Inc., Charoen Pokphand Foods PCL, Land O'Lakes Inc., Mahindra & Mahindra Ltd., AGCO Corporation, Wens Foodstuff Group Co. Ltd., FMC Corporation, The Toro Company, Valmont Industries Inc., The Scotts Miracle-Gro Company, Flour Mills of Nigeria, Dairy Farmers of America, Bunge Limited
Elevating Agriculture With Cutting-Edge Drones
Major companies operating in the agriculture market are developing agriculture drones to collect precise data on crop health, soil conditions, and pest infestations which helps to strengthen their market postion. Agriculture drones are unmanned aerial vehicles (UAVs) that are used in the agricultural industry to improve crop yields, reduce costs, and increase efficiency. For instance, in July 2023, XAG, a China-based drone service provider, launched the XAG P100 Pro. The XAG P100 Pro is a highly advanced and efficient drone that can help farmers with their agriculture needs. It has a large payload of 50 kilograms, making it a highly productive drone for agriculture. The XAG P100 Pro is a fully autonomous unmanned aerial system that can help farmers with seeding, crop spraying, and fertilization. The drone has a dual-link communication system that ensures stable operation on LAN and in poor network conditions.
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Key Segments -
The agriculture market covered in this report is segmented -
1) By Type: Animal Produce, Crop Production, Rural Activities
2) By Nature: Organic, Conventional
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments Covered: Milk, Honey, Meat, Wool, Egg, Skin And Hide, Live Animals, Other Animal Produce, Grain Farming, Oilseed Farming, Fruit And Nut Farming, Vegetable Farming, General Crop Farming, Greenhouse, Nursery, And Flowers, Fishing, Hunting And Trapping, Forestry And Logging, Agriculture And Forestry Services
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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