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General Crop Farming Market 2033: Growth Trends, Size, and Outlook
General Crop Farming Global Market Report 2024
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According to The Business Research Company's, The general crop farming market size has grown strongly in recent years. It will grow from $391.16 billion in 2023 to $429.96 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to food security, population growth, export opportunities, advancements in farming technologies, commodity prices.
The general crop farming market size is expected to see strong growth in the next few years. It will grow to $595.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to sustainability and regenerative agriculture, climate change adaptation, innovation in crop varieties, digitization and precision agriculture, global market expansion. Major trends in the forecast period include cover cropping and crop rotation, local and small-scale farming, organic and non-gmo farming, vertical farming, smart crop management.
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Market Drivers and Trends:
The increasing crop production is expected to propel the growth of the general crop farming market going forward. Crop production refers to the process of growing and cultivating crops, for various purposes such as human and animal consumption, industrial use, and raw materials for other industries which aimed at producing healthy, high-yielding, and quality crops. General crop farming is primary activity involved in crop production which is essential for the growth, development, and yield of crops for domestic and commercial purposes. For instance, in May 2023, according to Gov.UK a UK based public sector information website, the total crop output was $14,034.6(£13,330) million in 2022 which is an increase of $2,524.76 (£2,398) million (21.9%) from the year 2021. Therefore, increasing crop production is driving the growth of the general crop farming market.
Implementing microbe-enhanced seeds boosts crop production and increases profitability with its ability to produce crops in drought conditions. The microbes function similarly to beneficial bacteria in the human intestine and are found on the surface of the plant and in plant tissue. This treatment for cotton seeds utilises beneficial microbes that live in plants to produce a cotton plant without genetic modification. The microbe-enhanced cotton, developed by Indigo agriculture, is already implemented on 50,000 acres spread across five different states in the southern part of the USA. Monsanto is another agriculture company that has released many microbial products.
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Major Key Players of the Market:
Associated British Foods plc, Sinochem International Corporation, Grupo Amaggi, Batu Kawan Berhad, Syngenta AG, KWS Saat SE, Tata Consumer Products Limited, Yuan Longping High-Tech Agriculture Co. Ltd., Menderes Tekstil Sanayi ve Ticaret AS, Seed Co Limited, Cargill Inc., Archer-Daniels-Midland Company, Bunge Limited, Monsanto Company, DowDuPont Inc., Agrium Inc., The Mosaic Company, CNH Industrial N.V., Deere & Company, Kubota Corporation, Pioneer Hi-Bred International Inc., Olam International Ltd., Dole Food Company, Chiquita Brands International, Wilmar International Limited, New Hope Group, COFCO Corporation, ITOCHU Corporation, Wilbur-Ellis Company Inc., Land O'Lakes Inc., J.R. Simplot Company, SunOpta Inc., The Andersons Inc., Calavo Growers Inc., United Phosphorus Limited, FMC Corporation, Nufarm Limited, Israel Chemicals Ltd.
General Crop Farming Market 2024 Key Insights:
• The general crop farming market size is expected to see strong growth in the next few years. It will grow to $595.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• Increasing Crop Production Driving Growth In The General Crop Farming Market
• Boosting Crop Yields And Profitability With Microbe-Enhanced Seeds For General Crop Farming
• The Asia-Pacific was the largest region in the general crop farming market in 2023
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