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Sustainable Agriculture Market Trends, Top Companies, Share, Growth And Forecast 2033
Sustainable Agriculture Market Trends
According to The Business Research Company's, the sustainable agriculture market size has grown rapidly in recent years. It will grow from $13.54 billion in 2023 to $15.07 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to environmental awareness, regulatory support, consumer demand for organic products, soil health concerns, water conservation.
The sustainable agriculture market size is expected to see strong growth in the next few years. It will grow to $21.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to climate change adaptation, global food security concerns, circular economy practices, supply chain sustainability, education and knowledge sharing. Major trends in the forecast period include innovations in agroecology, technology integration, precision agriculture adoption, agroecology and crop diversity, blockchain for supply chain transparency.
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Market Drivers and Trends:
The increasing demand for organic products is expected to propel the growth of the sustainable agriculture market going forward. Organic products refer to goods that are produced using an agricultural practice that avoids the use of synthetic pesticides, herbicides, genetically modified organisms (GMOs), and synthetic fertilizers. Sustainable agriculture is used to produce organic products without the use of synthetic fertilizers, pesticides, herbicides, genetically modified organisms (GMOs), and other synthetic inputs. For instance, in May 2023, according to the Organic Trade Association, a US-based non-profit business association, the US organic food market witnessed an unprecedented surge in sales, reaching a new record of $61.7 billion in 2022, an increase of 4.4% compared to $59.1 billion in 2021. Further, organic beverages were second highest-selling category among organic products, registering sales of $9 billion, reflecting a 4% increase. Therefore, the rise in demand for organic products will drive the growth of the sustainable agriculture market.
Major companies operating in the sustainable agriculture market are developing innovative products, such as sustainable biostimulants, to enhance crop growth and resilience while minimizing environmental impact and reducing the reliance on synthetic chemicals. Sustainable biostimulants are organic or naturally-derived substances that are applied to crops or plants to promote growth, improve nutrient uptake, and enhance their resistance to stressors, all while minimizing harm to the environment. For instance, in June 2023, Cascadia Seaweed Corp., a Canada-based company that specializes in the sustainable cultivation of indigenous seaweed species on low-impact ocean farms, along with Refeed Canada Farms Ltd., a Canada-based company that focuses on natural liquid plant food, launched sustainable seaweed-based biostimulants, a liquid plant food made from seaweed extract. It is derived from cultivated cold-water kelp and contains essential nutrients for plant growth. It is designed for various agricultural applications and aims to promote sustainable and climate-resistant food systems.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Cargill Inc., Archer Daniels Midland Co., BASF SE, Deere And Company, Yara International, China National Chemical Corporation, KUBOTA Corporation, Corteva Agriscience LLC, Monsanto Company, AGCO Corporation, Pioneer Hi-Bred International Inc, UPL Limited, Thai Union Group PCL, Trimble Inc., Groupe Limagrain, KWS SAAT SE, Netafim Ltd, Agricool, Irritec USA Inc., Gakon Horticultural Projects, Vertical Future Limited, BrightFarms Inc., Dream Greens Inc, Godrej Agrovet, Eden Green Technologies, Jones Food Company, FarmBox Foods
Sustainable Agriculture Market 2024 Key Insights:
• The sustainable agriculture market is expected to grow to $21.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.
• Driving Growth In The Sustainable Agriculture Market As Demand For Organic Products Soars
• Sustainable Biostimulants Advance Agriculture Practices
• North America was the largest region in the sustainable agriculture market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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