Future of the Agriculture Market: Trends, Innovations, and Key Forecasts Through 2034

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Agriculture Market Size Growth Forecast: What to Expect by 2025?
The size of the agriculture market has experienced significant expansion recently, and it is projected to go from $12122.26 billion in 2024 to reach $12974.17 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 7.0%. The expansion during the historical phase can be linked to factors such as population growth, the internationalization of trade, governmental regulations, the use of crop protection products, crucial climate and weather factors, as well as rural development programs.

How Will the Agriculture Market Size Evolve and Grow by 2029?
In the coming years, the agriculture market is projected to witness robust growth, escalating to a worth of $16763.88 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. This predicted expansion in the forecast period can be credited to the rise of sustainable agricultural practices, advancements in crop genetic engineering, the popularity of organic and vertical farming, and strategic water management solutions in response to global food security issues. Noteworthy trends contributing to this development during the forecast period incorporate precision agriculture technologies, the fusion of artificial intelligence into farming operations, the emergence of digital marketplaces for agricultural goods, the employment of autonomous farming equipment, and the uptake of farm management software.

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What Drivers Are Propelling the Growth of Agriculture Market Forward?
With a projection of the world's populace hitting 10 billion by 2050, there is an amplified necessity for food provision. This surge in population is thereby escalating the demand for food according to the Agricultural Outlook provided by the Organization for Economic Co-operation and Development (OECD) and FAO (Food and Agriculture Organization). Their research also proposes that by 2027, there will be a 13% growth in global cereal production. To achieve this, an upturn in crop production, agricultural activities, and trading would be necessary to cater to the growth in population. As a direct response, it's anticipated that agribusiness firms will boost their acquisition of fertile lands for escalated crop production. Furthermore, it is expected that agriculture companies will enhance their operations and engagements to gratify the uprising demand emanating from farming activities, thereby augmenting their growth.

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What Are the Key Trends Driving Agriculture Market Growth?
Leading businesses in the agricultural sector are innovating by building agriculture drones that accumulate accurate information on plant health, soil quality, and pest problems, ultimately solidifying their standing in the market. Agriculture drones, otherwise known as unmanned aerial vehicles (UAVs), are utilized in farming to enhance crop production, decrease expenses, and boost effectiveness. For example, in July 2023, the drone service provider XAG, located in China, introduced the XAG P100 Pro. This cutting-edge and efficient drone is designed to assist farmers with various agricultural requirements. With its massive payload capacity of 50 kilograms, the XAG P100 Pro stands out as an incredibly productive agricultural drone. The XAG P100 Pro is an entirely independent aerial system that aids farmers with tasks like seeding, spraying crops, and fertilization. Its dual-link communication feature guarantees reliable functioning on LAN and when network conditions are substandard.

What Are the Key Segments in the Agriculture Market?
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:
1) By Animal Produce: Livestock, Poultry, Dairy Products
2) By Crop Production: Cereal Crops, Oilseed Crops, Horticultural Crops
3) By Rural Activities: Agroforestry, Organic Farming, Agricultural Services

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Who Are the Key Players Shaping the Agriculture Market's Competitive Landscape?
Major companies operating in the agriculture market include 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

What Geographic Markets Are Powering Growth in the Agriculture Market?
Asia-Pacific was the largest region in the agriculture market in 2024. North America was the second largest region in the agriculture market. The regions covered in the agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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