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Growth and Information Trajectory of the Global Agriculture Market: An Overview and Outlook from 2024-2029
Agriculture Market Size
What Is The Projected Market Size Of The Global Agriculture Market And Its Growth Rate?
The agriculture market has seen impressive growth in recent years and is projected to continue in the same direction:
• The market will grow from $14361.62 billion in 2024 to $15502.69 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%.
• The agriculture market is destined for strong gains in the upcoming years, expected to reach $20637.4 billion in 2029 at a CAGR of 7.4%.
Noteworthy factors contributing to this growth include population growth, globalization of trade, increased sustainability practices, advances in crop technology, and government policies.
What Is Driving The Growth In The Agriculture Market?
Impressive growth in the global agriculture market is largely due to the world's burgeoning population, projected to peak at 10 billion people by 2050. As such, the demand for food is amplified, necessitating increased crop production and farming activities. As per the Agricultural Outlook by the Organization for Economic Co-operation and Development (OECD) and FAO, global cereal production is anticipated to increase by 13% by 2027. Agribusiness companies are therefore likely to acquire more arable land to boost crop production and to keep pace with higher demands.
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Who Are the Key Players Driving Agriculture Market Growth?
Several organizations are instrumental in supporting the agriculture market's growth, including:
• Cargill Incorporated
• Archer Daniels Midland Co.
• BASF SE
• Wilmar International Ltd.
• Dow Inc.
• Olam International
• Bayer AG
• Tyson Foods
• Deere & Company
• Nutrien Ltd., and many more.
What Are The Key Trends In The Agriculture Market?
Key trends shaping the future of the agriculture market include:
• Growing adoption of sustainable agriculture practices
• Advances in genetic engineering in crops
• Rise in organic and vertical farming
• Growth in water management solutions for farming
• Precision agriculture technologies
• Increased use of artificial intelligence in farming
• Emergence of digital marketplaces for agricultural products
• Utilization of autonomous farming equipment
• Adoption of farm management software
What Are The Segments Of The Global Agriculture Market?
The present worldwide agriculture market is divided by:
• Type: Animal Produce, Crop Production, Rural Activities
• Nature: Organic, Conventional
• Distribution Channel: Super markets Or Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels
Which Region Leads The Agriculture Market?
Asia-Pacific has been the largest agriculture market as of 2024. North America follows as the second largest. The regions considered in this report span across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Agriculture Market Global Market Report?
- Market Size Analysis: Analyze the Agriculture Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Agriculture Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Agriculture Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Agriculture Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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