Agriculture refers to the practice of cultivating plants and raising animals for the production of food, fiber and other products that are essential to sustaining human life. It encompasses a broad range of activities, including crop production, livestock farming and various rural activities that support these core functions.
The agriculture market consists of revenues generated by offering agriculture products and services by entities (organizations, sole traders or partnerships) involved in the practice of cultivating soil, growing crops and raising animals for food, fiber and other products used to sustain and enhance human life.
The global agriculture market was valued at $9,540.51 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.00%.
Rising Demand For Organic Food Products
The rising demand for organic food products supported the growth of the agriculture market during the historic period. Organic food products are agricultural or processed food items that are produced and processed in accordance with organic farming principles. Consumers are becoming more aware of the health benefits of organic food, which is free from synthetic pesticides, genetically modified organisms (GMOs) and artificial additives. This is leading to a growing preference for organic fruits, vegetables, dairy and meat products. Organic farming practices emphasize soil health, biodiversity and reducing pollution. Consumers who are concerned about the environment often opt for organic products, as they are seen as eco-friendlier and more sustainable. For instance, according to the Organic Trade Associations (OTA), a US-based trade organization, in 2022, sales of organic food in the USA reached $60 billion for the first time and reached $61.7 billion in 2023. Therefore, the increasing demand for organic food products contributed to the growth of the agriculture market.
Innovation In Biological Crop Protection For Sustainable Agriculture
Companies in the agriculture market are focusing on the development of innovative products in bio fungicides for sustainable agriculture. For example, in August 2023, FMC Corporation, an India-based agricultural sciences company, launched ENTAZIATM, a ground-breaking biological crop protection solution based on Bacillus subtilis. This cutting-edge technology provides farmers with a potent and long-lasting tool for fungus protection while protecting environmental purity. It provides farmers with instruments that not only secure their productivity but also contribute to a greener, more balanced agricultural ecology, as exemplified by ENTAZIATM bio fungicide. ENTAZIATM bio fungicide can be used in conjunction with FMC's bio stimulants and synthetic fungicides in an integrated pest control program to provide additional plant advantages in agriculture practices.
The global agriculture market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 3.52% of the total market in 2023.
Agriculture Global Market Report 2024 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global agriculture market as it emerges from the COVID-19 shut down.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Where is the largest and fastest-growing market for agriculture? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The agriculture market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider agriculture market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by nature and by distribution channel.
- Product Analysis The product analysis section of the report describes the leading products in the agriculture market, along with key features and differentiators for those products.
- Supply Chain The supply chain section of the report defines and explains the key players in the agriculture industry supply chain.
- Customer Information The chapter covers recent customer trends/preferences in the global agriculture market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the agriculture market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by nature and by distribution channel in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for agriculture providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 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
- Companies Mentioned: Cargill Incorporated; Archer Daniels Midland Co. (ADM); JBS S.A.; COFCO International Ltd. (China Foods Limited); Bunge Global SA
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; agriculture indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.