NEW
YORK, July 16, 2024 /PRNewswire/ -- The global
agriculture market size is estimated to grow by USD 23.5 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
5.97% during the forecast period. High
growth potential for agricultural exports is driving market
growth, with a trend towards growing use of robots in
agriculture. However, declining availability of arable land
poses a challenge. Key market players include Afimilk Ltd.,
Bayer AG, Compagnie Financiere et de Participations Roullier, Deere
and Co., DeLaval International AB, GEA Group AG, Molino agro SA,
Sumitomo Corp., Topcon Corp, and Trimble Inc..
Get a detailed analysis on regions, market
segments, customer landscape, and companies - Click for the
snapshot of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Crop Type (Soya bean,
Maize, Wheat, and Others), Type (Conventional and Organic), and
Geography (South America)
|
Region
Covered
|
Argentina
|
Key companies
profiled
|
Afimilk Ltd., Bayer AG,
Compagnie Financiere et de Participations Roullier, Deere and Co.,
DeLaval International AB, GEA Group AG, Molino agro SA, Sumitomo
Corp., Topcon Corp, and Trimble Inc.
|
Key Market Trends Fueling Growth
In recent years, the agriculture market in Argentina has seen a rise in the adoption of
robots for farming tasks. Equipped with specialized tools and
automated systems, these robots offer improved accuracy and
efficiency. They perform harvesting using automated systems,
maintain soil humidity with mobile robots, and protect crops from
insects with automated controllers. Robots work longer hours and
provide precise responses, enabling farmers to monitor crop status,
production levels, and development. Additionally, they offer
precise control over sowing and harvesting applications.
Consequently, the use of advanced robots in smart farms is expected
to boost the agriculture market's growth during the forecast
period.
Agriculture markets are witnessing notable trends in various
crops, including cauliflower, nuts, and alfalfa. To boost
international competitiveness, standardizing export taxes and
focusing on added-value products are essential. Employment
opportunities can be created through domestic production,
especially with the adoption of new technologies like precision
farming, improved seeds with genetically modified traits, notillage
farming, and innovative farming practices. Risk management, soil
sustainability, carbon fixation, and grasses are crucial for
long-term agricultural success. Soil erosion and wind erosion are
significant challenges, requiring attention. Biotic and abiotic
stresses also impact production, making it essential to invest in
research and development. South American producers, such as
sunflower growers, face competition from wheat exporters like
Ukraine. Macroeconomic instability
and credit shortages can impact global exports. Post-harvest losses
are a concern, highlighting the need for logistics services and
infrastructure improvements. Drought is a recurring issue,
necessitating the use of silos for storage. Innovations like
genetically engineered crops, such as HB4 sunflowers, can increase
wheat production. New technologies, like precision farming and
improved seeds, can help mitigate the impact of drought. Overall,
the agriculture sector must adapt to these trends and challenges to
remain competitive.
Discover 360° analysis of this market. For
complete information, schedule your consultation- Book
Here!
Market Challenges
- The decline in Argentina's
arable land for crop cultivation is a significant concern for the
agriculture market. Over the last few decades, industrialization,
urbanization, and energy demands have led to the conversion of
fertile land for non-agricultural purposes. Soil erosion and
pollution have further reduced the quality and productivity of
agricultural land. Plowing, a crucial agricultural process, has
become less effective due to these issues. Consequently, crop
production has decreased, limiting agricultural activities and
potentially hindering the growth of Argentina's agriculture market during the
forecast period.
- Agriculture market faces several challenges in producing and
supplying various crops like Potatoes, Tomatoes, Domestic
consumption favorites Fresh Oranges, and more. The World Bank
provides loan facilities through Climatesmart for farmers to adopt
innovative practices in the Agri-food system. Climateresilient
infrastructure is crucial for growing crops like Coffee, Soy-based
crops, and Off-season varieties of Carrots, Peppers, Chilies,
Beans, Turnips, Oranges, Peaches, Avocados, Strawberries, and Fresh
vegetable segments. The Health consciousness trend impacts demand
for Organic food, leading to a surge in Genetically modified seeds
for crops. The Pandemic effect and Chronic diseases like Cancer,
Hypertension, and Diabetes necessitate Government agencies to
implement Agricultural policies, offering Technical assistance and
Value chains support. Export taxes on Specialty crops like
Blueberries and Broccoli hinder growth, while Agricultural R&D
and Extension services are essential for improving Crop production.
INTA and other organizations provide vital assistance in
implementing sustainable farming methods.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This agriculture market report extensively covers market
segmentation by
- Crop Type
- 1.1 Soya bean
- 1.2 Maize
- 1.3 Wheat
- 1.4 Others
- Type
- 2.1 Conventional
- 2.2 Organic
- Geography
1.1 Soya bean- The agriculture market experiences
consistent growth due to increasing demand for food products
worldwide. Farmers sell their produce to wholesalers, who then
distribute it to retailers and supermarkets. Technology plays a
crucial role, with innovations like precision farming and automated
irrigation systems improving productivity. Government policies and
subsidies also support farmers, ensuring a stable market. Overall,
the agriculture market is a vital sector, providing food security
and economic opportunities.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017 - 2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Smart Agriculture, Precision Agriculture, and
Connected Agriculture markets are experiencing rapid growth driven
by technological advancements. Smart Agriculture leverages IoT, AI,
and data analytics to optimize farming practices. Precision
Agriculture focuses on enhancing crop yields and resource
efficiency through GPS, sensors, and automated systems. Connected
Agriculture integrates these technologies to create a cohesive,
data-driven agricultural ecosystem. Key players are investing in
innovative solutions to address the growing demand for sustainable
and efficient farming practices, positioning these markets for
significant expansion in the coming years.
Research Analysis
The agriculture market has experienced significant shifts in
consumption, export, and import trends in recent years. The global
wheat crop production reached a record high of 762.4 million metric
tonnes in 2020, with consumption at 757.9 million metric tonnes.
Wheat averages USD210 per metric
tonne. Supply and distribution have been impacted by the pandemic,
leading to disruptions in export and import markets. Fruits such as
grapes, bananas, apples, limes, lemons, pears, oranges, peaches,
avocados, and strawberries are major fresh vegetable segments with
high demand. The pandemic effect has led to an increase in organic
food demand as consumers prioritize healthier options. Chronic
diseases and cancer have also fueled the demand for organic
produce. Import and export analysis of these fruits reveal
significant trade flows between countries. For instance,
Mexico is the largest exporter of
limes and avocados, while China is
the largest importer of soybeans and wheat. The organic food market
is expected to grow at a CAGR of 20.4% from 2021 to 2026. Other
vegetables like onions, carrots, peppers, chilies, beans, turnips,
and oranges also have a substantial market presence.
Market Research Overview
The Agriculture Market is a dynamic and complex system that
involves the production, consumption, import, and export of various
crops and commodities. Consumption Analysis reveals that wheat,
with an average yield of metric ton per hectare, remains a staple
food in many countries. The Agri-food system is undergoing green
development with innovative practices like climateresilient
infrastructure and the use of genetically modified seeds. The World
Bank provides loan facilities through programs like Climatesmart to
support farmers in adopting sustainable practices. Export Analysis
shows that countries like India,
China, and Brazil dominate the export of crops such as
coffee, soy-based crops, and grapes. Import Analysis reveals that
countries import fruits like bananas, apples, and citrus fruits
from various origins. Domestic consumption of fresh oranges,
apples, and tomatoes is significant, with the pandemic effect
leading to a surge in demand for organic food. Government agencies
and international organizations provide technical assistance,
agricultural policies, and value chains to improve the
competitiveness of the agricultural sector. New technologies like
precision farming, improved seeds, and notillage farming are being
adopted to increase domestic production and employment. Risk
management and soil sustainability are crucial aspects of the
agricultural sector, with a focus on carbon fixation and soil
erosion prevention. The health consciousness trend has led to an
increase in demand for fresh vegetables like carrots, peppers,
chilies, beans, turnips, and off-season varieties of fruits like
strawberries, peaches, avocados, and blueberries. The demand for
added-value products like nuts, alfalfa, and specialty crops like
broccoli, cauliflower, and cauliflower is also on the rise. Export
taxes and standardized export tax policies are essential to ensure
international competitiveness. The agricultural R&D and
extension services sector plays a crucial role in developing new
technologies and innovative farming practices to increase
productivity and efficiency. Employment in the agricultural sector
is significant, with a focus on risk management and improved
livelihoods for farmers. In conclusion, the Agriculture Market is a
complex system that requires a holistic approach to ensure food
security, sustainable production, and economic growth. The use of
new technologies, innovative farming practices, and sustainable
infrastructure are crucial to addressing the challenges of climate
change, population growth, and health concerns. Government
policies, international cooperation, and private sector investment
are essential to ensure the long-term sustainability and
competitiveness of the agricultural sector.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Crop Type
-
- Soya Bean
- Maize
- Wheat
- Others
- Type
-
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/agriculture-market-size-is-set-to-grow-by-usd-23-5-billion-from-2024-2028--high-growth-potential-for-agricultural-exports-to-boost-the-market-growth-technavio-302196756.html
SOURCE Technavio