Agriculture Global Market Report 2023 – Market Size, Trends, And Forecast 2023-2027

The Business Research Company’s Agriculture Global Market Report 2023 – Market Size, Trends, And Forecast 2023-2027

LONDON, GREATER LONDON, UK, December 13, 2023 /EINPresswire.com/ -- In the transition from 2022 to 2023, the global agriculture market exhibited substantial growth, ascending from $12,245.63 billion to $13,398.79 billion, marked by a commendable Compound Annual Growth Rate (CAGR) of 9.4%. Projections suggest that this positive trajectory will persist, propelling the agriculture market to $19,007.8 billion by 2027, maintaining a steady CAGR of 9.1%.

Driving Forces: Population Surge and Agricultural Innovations

The primary impetus behind this expansion is the escalating global population, expected to reach 10 billion by 2050. The Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) project a 13% increase in global cereal production by 2027 to meet the surging demand. Consequently, agribusiness companies strategically acquire arable land to amplify crop production, while agriculture companies expand to meet heightened demand.

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Tech-Infused Revolution: The Rise of Agribots

To address challenges like labor shortages, the agriculture sector is undergoing a transformative shift with the advent of agriculture robots or agribots. These intelligent machines perform tasks from pruning and weeding to precise pesticide and herbicide application. Leading companies, including Small Robot Company, Naio Technologies, EarthSense, and PrecisionHawk, are at the forefront, offering innovative solutions to enhance productivity and mitigate the need for extensive labor.

Regional Dynamics and Market Segmentation

In 2022, the Asia-Pacific region emerged as the nucleus of the agriculture market, claiming the largest market size, with North America closely following. This regional dominance reflects the diverse dynamics at play within the global agriculture landscape.

Diverse Segmentation and Market Dynamics

The global agriculture market is intricately segmented to reflect its diverse facets:

• By Type: Animal Produce, Crop Production, Rural Activities
• By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
• By Nature: Organic, Conventional
• Subsegments add granularity, encompassing Milk, Honey, Meat, Wool, Egg, Skin And Hide, Live Animals, Other Animal Produce, Grain Farming, Oilseed Farming, Fruit And Nut Farming, Vegetable Farming, General Crop Farming, Greenhouse, Nursery, And Flowers, Fishing, Hunting And Trapping, Forestry And Logging, Agriculture And Forestry Services.

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Agriculture Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Agriculture Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on agriculture market size, agriculture market drivers and trends, agriculture market major players, competitors' revenues, agriculture market positioning, and agriculture market growth across geographies. The agriculture market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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