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Comprehensive Agritech Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.Agritech Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the agritech market has witnessed swift expansion over the past few years. Its estimated value will increase from $30.63 billion in 2024 to $34.58 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. The expansion during the historic period was fueled by factors such as the green revolution, innovations in agricultural machinery, the introduction of genetically modified organisms (GMOs), and the adoption of precision agriculture.
Agritech Market Size Forecast: What's the Projected Valuation by 2029?
The size of the agritech market is anticipated to witness a swift expansion in the coming years, reaching a valuation of $53.1 billion by 2029, growing at a compound annual growth rate (CAGR) of 11.3%. The upsurge during the forecast period can be credited to the digital revolution in farming, adoption of climate-intelligent agriculture, advancements in biotechnology, as well as the emergence of agricultural robotics and automation. Key trends for the forecast timeline include digital and precision farming, vertical and indoor farming, sustainable and regenerative agriculture, the increase of blockchain and transparency in the supply chain, as well as the rise of robotics and automation in the agricultural sector.
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What Are the Drivers Transforming the Agritech Market?
The increase in food requirements is anticipated to fuel the agritech market's expansion in the future. Food, which supplies essential nutrients for growth and health, originates from plant or animal sources and is ingested for physiological purposes. This need emerges from population expansion, urbanization, and shifts in dietary choices. Agritech plays a significant role in food production, improving efficiency, productiveness, and farming practices' sustainability to satisfy the escalating worldwide food demand. For instance, recent reports from the U.S. Bureau of Labor Statistics, a U.S. government entity, indicate that the average household spending on food rose by 12.7% in 2021 and 2022. This surge was triggered by a 20.1% rise in expenditures on meals eaten outside the home and an 8.4% increase in food spending at home. Therefore, the escalating food requirements are propelling the agritech market's development.
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What Are the Key Trends Driving Agritech Market Growth?
Prominent organizations in the agritech sector concentrate on producing novel solutions for crop protection, yield aid, pest resistance, and so on, with the aim of gaining a competitive market advantage. These terms refer to agricultural methodologies and technologies designed to safeguard crops from pests and diseases, improve output, and boost crop's natural immunity against pests, leading to sustainable farming and improved yields. For instance, John Deere, an agricultural machinery manufacturer based in the United States, introduced the See and Spray Ultimate, a piece of agritech equipment powered by artificial intelligence (AI), in March 2022. The John Deere 410R, 412R, and 612R Sprayers, intended for the 2023 model year, come with a factory-fitted See and Spray system. It is uniquely designed to spray non-residual herbicide directly upon weeds found in corn, soybean, and cotton crops. Utilizing advanced computer vision and machine learning, the system is equipped with cameras and processors on a new carbon-fiber truss-style boom, which allows it to accurately distinguish weeds from crops. The system, equipped with a camera for every meter across the boom-summarizing 36 cameras on a 120-foot boom, can simultaneously cover over 2,100 square feet. John Deere's industry-leading BoomTrac Ultimate, a superior boom height control system, boosts the precision of the targeted spray, ensuring optimized, individual plant care by using AI and machine learning.
Which Segments in the Agritech Market Offer the Most Profit Potential?
The agritech market covered in this report is segmented -
1) By Type: Big Data And Analytics, Biotechnology And Biochemical, Mobility, Sensors And Connected Devices, Other Types
2) By Application: Production And Maintenance, Irrigation, Supply Chain, Marketplace, Other Applications
3) By Sector: Precision Farming, Agriculture, Agrochemicals, Smart Agriculture, Biotechnology, Indoor Farming, Other Sectors
Subsegments:
1) By Big Data And Analytics: Predictive Analytics, Data Management Platforms, Farm Management Software
2) By Biotechnology And Biochemical: Genetically Modified Organisms (GMOs), Biopesticides, Biofertilizers
3) By Mobility: Agricultural Drones, Autonomous Tractors, Farm Management Apps
4) By Sensors And Connected Devices: Soil Sensors, Weather Stations, Livestock Monitoring Devices
5) By Other Types: Precision Agriculture Technologies, Supply Chain Solutions, Smart Irrigation Systems
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Which Firms Dominate the Agritech Market by Market Share and Revenue in 2025?
Major companies operating in the agritech market are Cargill Incorporated, Archer Daniels Midland Company (ADM), BASF SE, Wilmar International Limited, Bunge Limited, Dow AgroSciences LLC, Bayer Crop Science AG, Deere & Company, Nutrien Ltd., Syngenta Group AG, Olam International Limited, Yara International ASA, CNH Industrial NV, Sumitomo Chemical Company Limited, Kubota Corporation, The Mosaic Company, Corteva Agriscience Inc., The Andersons Inc., Land O'Lakes Inc., Tractor Supply Company, Ball Corporation, Tetra Pak Group, AGCO Corporation, Darling Ingredients Inc., Calavo Growers Inc.
Which Regions Offer the Highest Growth Potential in the Agritech Market?
North America was the largest region in the agritech market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agritech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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