Agriculture Global Market Report 2022

Agriculture Global Market Report 2022

  • May 2022 •
  • 500 pages •
  • Report ID: 6282186 •
  • Format: PDF
Major companies in the agriculture market include Cargill Incorporated, Dairy Farmers of America, Bayer AG, WH Group Limited, Bunge Limited, Wens Foodstuff Group Co. Ltd, Charoen Pokphand Foods PCL, Corteva Inc, Olam International, and Land O’Lakes Inc.

The global agriculture market is expected to grow from $11,287.56 billion in 2021 to $12,541.15 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%. The agriculture market is expected to grow to $18,814.21 billion in 2026 at a CAGR of 10.7%.

The agriculture market consists of sales of agriculture and related services by entities (organizations, sole traders, and partnerships) that provide agriculture and related services such as animal and crop production and other support services.Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibers, bio-fuel, medicinal and other products used to sustain and enhance human life.

This market also includes horticulture and aquaculture. This market excludes proceeds from captive (internal) consumption of agriculture and forest produce for further processing.

The main types of agriculture are animal produce, crop production, and rural activities.Crop production is the practice of cultivating crops for both domestic and commercial use.

Wheat, maize, rice, jute, and other crops are grown on a big scale. The nature of agricultural products can be organic and conventional that are distributed through supermarkets/hypermarkets, convenience stores, e-commerce, and other channels.

The Asia Pacific was the largest region in the agriculture market in 2021.North America was the second largest region in the agriculture market.

The regions covered in the agriculture report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The world population is growing and is expected to reach 10 billion by 2050.An increase in population creates more demand for food.

According to The Agricultural Outlook by the Organization for Economic Co-operation and Development (OECD) and FAO (Food and Agriculture Organization) published, global cereal production was projected to increase by 13% by 2027.Crop production, farming activities, and trade volumes will have to increase to meet the need for the increased population.

Agriculture companies will increase acquisitions in arable land to increase crop production. Agriculture companies are expected to increase their presence and activities to meet increased demand from farming activities and increase their growth.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the agriculture market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.As governments imposed lockdowns, farmers faced difficulties in harvesting and marketing their produce.

Also, the export of agricultural produce declined significantly as countries imposed restrictions on cross-border trade.The outbreak is expected to continue to hurt businesses throughout 2020 and into 2021.

However, it is expected that the agriculture market will recover from the shock across the forecast period as it is a ‘black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Shortage of labor and increasing demand for advanced agriculture tools in many countries is driving the demand for agriculture robots or agribots.Agribots are used in farmlands for pruning, weeding, and spraying pesticides and herbicides.

They are connected to tractors for spraying water, seeds, pesticides, nutrients, and harvesting.For instance, Energid Citrus Picking Robot System picks an orange every two seconds from a tree, thus enhancing productivity and thereby limiting the need for agricultural labor.

Some of the companies providing ag robots for effective and efficient productivity in agriculture are Small Robot Company, Naio Technologies, EarthSense, HETO Agrotechnics, Harvest Automation, PrecisionHawk, BoniRob, and others.

The countries covered in the agriculture market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam.