Global Agricultural Commodity Market Set For 7.49% Growth, Reaching $8,034.03 Billion By 2029

The agricultural commodity report describes and explains the agricultural commodity market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global agricultural commodity market reached a value of nearly $5,597.70 billion in 2024, having grown at a compound annual growth rate (CAGR) of 8.59% since 2019. The market is expected to grow from $5,597.70 million in 2024 to $8,034.03 billion in 2029 at a rate of 7.49%. The market is then expected to grow at a CAGR of 7.36% from 2029 and reach $11,460.52 billion in 2034.

What strategies are being adopted by key players in the agricultural commodity market?
The key players in the market are adopting extensive strategies in the agricultural commodity market such as:
• Expand production facilities to meet demand.
• Invest in advanced machinery for efficiency.
• Strengthen supply chain for steady operations.
• Adopt automation to optimize workflows.

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To take advantage of opportunities, The Business Research Company suggests that agricultural commodity companies enhance offerings:
• Innovating wheat breeding through research.
• Expanding futures trading with flexible contracts.
• Boosting coffee sustainability via collaboration.
• Enhancing cocoa production with customization.
• Advancing low-carbon farming for sustainability.

What Is Agricultural Commodity: Market Overview?
Agricultural commodities refer to raw materials and primary food products that are cultivated, harvested and traded globally for consumption, processing and manufacturing. These commodities are essential to food production, textile manufacturing and various industrial applications, forming the backbone of global agricultural trade. Agricultural commodities include staple crops such as grains, oilseeds and cash crops, which serve as inputs for food, beverages, textiles and biofuels.
Once harvested, agricultural commodities undergo various post-harvest processes such as drying, milling and grading before they are stored or transported to markets. The distribution of agricultural commodities takes place through supply chains that involve farmers, cooperatives, wholesalers, exporters and processors. These commodities are transported using trucks, ships and rail networks to domestic and international markets. The sales channels for agricultural commodities include physical commodity exchanges, direct contracts between buyers and sellers and digital trading platforms.

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Who Are The Major Companies Operating In The Global Agricultural Commodity Market?
The top 10 competitors in the market made up 4.97% of the total market in 2023. Archer Daniels Midland (ADM) was the largest competitor with a 1.30% share of the market, followed by:
• Wilmar International Limited.
• Bunge Limited.
• Cargill Inc.
• Louis Dreyfus Company B.V.
• Marubeni Corporation.
• Ingredion Incorporated.
• Itochu Corporation.
• Olam Group.
• Nestle S.A.

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