Authored By: Sarah
15 Jul 2024

 Agriculture Market Size to grow by USD 23.5 billion between 2024-2028

According to a research report “ Agriculture Market” by Crop Type (Soya bean, Maize, Wheat, Others) Type (Conventional, Organic) Geography (South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 23.5 billion, at a CAGR of  5.97% during the forecast period. In the agricultural sector of Argentina, coffee and soy-based crops hold significant economic importance. The US is a key player in supplying advanced agriculture machinery and technologies to Argentina's burgeoning poultry industry, which the Argentinian government is actively supporting through subsidies on imported agricultural equipment. Sophisticated technologies, such as GPS, are in high demand within the sector, yet most farms lack the necessary resources for such investments. Farmers acknowledge the benefits of premium fertilizers, but their availability is limited due to the marginal profitability of the Argentinian agricultural market. The US exports not only machinery but also advanced technologies, which are crucial for enhancing the productivity and efficiency of Argentine farms. The Argentinian government's subsidies aim to bridge the resource gap and promote the adoption of modern agricultural practices. However, the challenge remains in making high-quality fertilizers accessible to farmers to ensure sustainable agricultural growth.

Browse market data tables, figures, and in-depth TOC on “Agriculture Market” by Crop Type (Soya bean, Maize, Wheat, Others) Type (Conventional, Organic) Geography (South America) Global Forecast to 2028. Download Free Sample


By Crop Type, the Soya bean segment is projected to dominate the market size in 2024

As a seasoned virtual assistant, I'm pleased to provide insights into the current agriculture market landscape. Agricultural businesses face dynamic challenges, including fluctuating commodity prices, weather volatility, and regulatory changes. To mitigate risks and optimize profits, agribusinesses must employ innovative strategies, such as implementing advanced farming techniques, exploring alternative markets, and leveraging technology. By staying informed and adaptable, agriculture businesses can thrive in today's complex market environment.

By Type, Conventional  segment is expected to hold the largest market size for the year 2024

As a seasoned virtual assistant, I'm pleased to provide insights into the current agriculture market landscape. This sector is experiencing significant growth, driven by increasing global demand for food and agricultural commodities. Farmers are adopting advanced technologies and sustainable farming practices to enhance productivity and profitability. Key players are investing in research and development to innovate and differentiate their offerings. The market is expected to continue its robust expansion in the coming years.

South America is forecasted to hold the largest market size by region in 2024


The Agriculture Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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
  • Trimble Inc.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The agriculture market has experienced significant changes in recent years due to various factors including the rise of chronic diseases such as cancer and the impact of the pandemic on health consciousness. This has led to a surge in demand for organic food, particularly in fresh vegetable segments like strawberries, avocados, peaches, oranges, turnips, beans, chilies, peppers, carrots, onions, pears, lemons, limes, apples, bananas, grapes, and more. According to the Food and Agriculture Organization (FAO), global agricultural production has been affected by weather conditions and other challenges, with the wheat crop averaging at around 762 million metric ton in 2020. Import and export analysis show that countries like Mexico, China, and the United States are major players in the global agriculture market, particularly in the export of fruits and vegetables. Consumption analysis indicates that demand for these products is expected to continue growing, making agriculture a vital sector for economic growth and global food security.

Market Research Overview

Title: Agriculture Market: Overcoming Challenges through Innovative Practices and Policies The agriculture market is currently facing numerous challenges, including credit shortages, macroeconomic instability, and post-harvest losses due to logistics services inefficiencies. These issues are further compounded by natural factors such as drought, which affects wheat production and sunflowers, as well as abiotic and biotic stresses like wind and soil erosion. To address these challenges, innovative farming practices are being adopted, such as no-tillage farming, genetically modified traits in seeds, and precision farming. New technologies like genetically engineered crops, improved seeds, and climate-smart infrastructure are also being implemented to increase crop production and ensure soil sustainability. However, external factors such as the Ukraine conflict and Black Sea supplies, global exports from South American producers, and export taxes on specialty crops like alfalfa, nuts, cauliflower, broccoli, blueberries, and off-season varieties, can impact the market. Government agencies and agricultural policies play a crucial role in providing extension services, agricultural R&D, and technical assistance to farmers. Additionally, value chains, standardized export taxes, and international competitiveness are essential for ensuring the sustainability of the agri-food system. The health consciousness trend and the pandemic effect have led to an increased demand for organic food and fresh vegetable segments. This trend is driving innovation in crops like strawberries, avocados, peaches, oranges, turnips, beans, chilies, peppers, carrots, and off-season varieties. In conclusion, the agriculture market is facing numerous challenges, but innovative farming practices, policies, and technologies offer promising solutions. The World Bank and other loan facilities can help farmers overcome credit shortages and invest in climate-resilient infrastructure. By working together, we can ensure a sustainable and competitive agri-food system that meets the needs of consumers while supporting employment and economic growth. Keywords: Credit shortage, Macroeconomic instability, Post-harvest losses, Logistics services, Silos areas, Drought, Wheat production, Sunflowers, HB4, Genetically engineered, Black Sea supplies, Ukraine conflict, Global exports, Wheat exporter, South American producer, Abiotic stress, Biotic stress, Wind erosion, Soil erosion, Grasses, Carbon fixation, Soil sustainability, Risk management, Innovative farming practices, Notillage farming, Geneticallymodified traits, Improved seeds, Precision farming, Crop rotation, New technologies, Domestic production, Employment, Addedvalue products, Standardize export tax, International competitiveness, Alfalfa, Nuts, Cauliflower, Broccoli, Blueberries, Export taxes, Extension services, Agricultural R&D, Value chains, Technical assistance, Agricultural policies, Government agencies, Diabetes, Hypertension, Cancer, Chronic diseases, Organic food demand, Pandemic effect, Fresh vegetable segments, FAO, Strawberries, Avocados, Peaches, Oranges, Turnips, Beans, Chilies, Peppers, Carrots, Off-season varieties, Health consciousness trend, Soybased crops, Coffee, Loan facilities, Crop production, Geneticallymodified seeds, INTA, Climateresilient infrastructure, Green development, Agri-food system, innovative practices, Climatesmart, Loan, The World Bank, Fresh oranges, Domestic consumption, Tomatoes, Potatoes, Garlic, Onions, Pears, Lemons, Limes, Apples, Bananas, Grapes, Supply and distribution, wheat average, Wheat crop, Metric ton, Import Analysis, Export Analysis, Consumption Analysis.


Technavio Research
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