Latest News- Agribusiness Market: Grains and cereals is expected to lead the Product segment during 2025-2029

The Agribusiness Market is being driven by Increasing demand for food due to population growth

The Agribusiness Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 843.4 million. In the agribusiness sector, automation is revolutionizing agricultural production by eliminating human intervention in various processes. This technology enables data capturing and field scouting, enhancing farmer engagement. With remote monitoring of crop health, automation optimizes agricultural productivity by controlling sowing, watering, harvesting, and early detection of pests. AI integration analyzes data from multiple sources to make informed decisions, reducing production issues and supply chain inefficiencies, ultimately contributing to increased financial sustainability and mitigating food losses. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Grains and cereals
  • Dairy
  • Oilseeds
  • Livestock
  • Others
• Application
  • Agrichemicals
  • Seed business
  • Breeding
  • Machinery and equipment
• Technology
  • Traditional agriculture
  • Mechanized farming
  • Precision agriculture and smart farming
  • Organic and sustainable Farming
• Distribution Channel
  • Retail chains and supermarkets
  • Wholesale distribution
  • Direct-to-consumer
  • Food processing and manufacturing companies
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for food due to population growth
• High adoption of bio-agrochemicals
• Improving agriculture trade policy

However, the market also witnesses some limitations, which are as follows:

• Reduction in amount of land used for agriculture
• Rapidly changing climatic conditions
• Lack of transparency across agribusiness value chain

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Market Scope in Agribusiness Market Research Report

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Research Analysis Overview

The Agribusiness Market is witnessing significant advancements with the integration of IoT sensors in farming, revolutionizing the cocoa supply chain and coarse grain production. Precision farming software and machine-learning technologies are enhancing farming techniques, optimizing crop yield, and reducing resource wastage. Autonomous tractors and robotics are transforming field conditions, while AI and machine learning improve fertilization and soil composition. Vertical farming and sustainable supply chain management are addressing climate change and population growth. Strategic partnerships and seed biotechnology are driving technology adoption, regulatory norms, and agritech development. AI-powered farming solutions, precision farming, and crop protection are essential for productivity and resource utilization. Livestock management and organic products are also gaining importance in this sector.

Market Research Overview

In the agribusiness sector, the fertilizers and agricultural chemicals market encompasses organizations engaged in the production of fertilizers and agricultural chemicals, as well as associated components. This market scope encompasses agricultural pesticides, such as insecticides, herbicides, fungicides, nematicides, and fertilizers, including nitrogenous, phosphatic, potassic, and biofertilizers. According to Technavio's market analysis, the expansion of this market is attributable to several key factors. Primarily, there is an increasing trend towards new product launches by market participants, aimed at broadening their offerings. Additionally, advancements in technology, such as machine learning, vertical farming systems, GPS technology, IoT devices, and agricultural finance, are driving innovation in urban agriculture, agricultural automation, and pest control solutions. These developments are expected to significantly contribute to the growth of the global fertilizers and agricultural chemicals market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/