Global Agriculture Market Analysis
Growing worldwide population is putting enhanced pressure on agriculture sector to fulfill the demand for food. Vital breakthroughs and significant growth in seeds, fertilizers and chemicals has assisted the agriculture industry in satisfying the demand for food. With the global population set to expand by 1.2 billion before the culmination of this decade and regular calorie consumption rising by more than 500 calories per day during the last few years, the intake of food will continue to grow and farmers will become growingly dependent on mechanization and technology to enhance food production. By end of year 2050, there will be more than three billion to be fed owing to which the demand for production of meat will increase by about three fourths and cereal output will have to be improved by one billion tons.
Industry Overview
Countries like Ukraine, Russia and Brazil are all set to join (or belong to) the group of the nations like European Union, USA and Australia who are the long standing exporters of agricultural commodities. Factors like limited cultivatable land , changing climate and growing expenditure on equipments and materials like fertilizers are some of the challenges that are faced by agricultural industry.
Today, there is 1.5 billion hectares of cultivable land in the world and it is worth 5 trillion dollars. Lesser direct factors and elements like rules, revenues and rate of interests also affect the growth of the agriculture sector. With 13 billion dollars already invested in agriculture sector or agriculture related industry since year 2007, the market is going to observe enhanced business investment. The agriculture segment is expected to focus on enhancing the production by using scientific methods of production and through technological innovations.
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Agriculture Market
Agriculture Market size was valued USD 12120 billion in 2024 and is anticipated to reach USD 19908.36 billion by 2032, at a CAGR of 6.4% during the forecast period.
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Agricultural Biotechnology Market
Agricultural Biotechnology Market size was valued at USD 126,204.5 Million in 2024 and is anticipated to reach USD 244,181.89 Million by 2032, at a CAGR of 8.6 % during the forecast period.
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Aquaponics Market
The global aquaponics market was valued at USD 988 million in 2024 and is projected to reach USD 2,683 million by 2032, expanding at a CAGR of 13.3% during the forecast period.
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Pet Food Additive Market
The Pet Food Additive Market size was valued at USD 13.1 billion in 2024 and is anticipated to reach USD 19.8 billion by 2032, at a CAGR of 5.3% during the forecast period.
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Chaff Cutter Market
Chaff Cutter Market size was valued USD 1445.45 million in 2024 and is anticipated to reach USD 1855.37 million by 2032, at a CAGR of 3.17% during the forecast period.
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Digital Agriculture Market
Digital Agriculture Market size was valued USD 22,000 million in 2024 and is anticipated to reach USD 47,849 million by 2032, at a CAGR of 10.2% during the forecast period.
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Smart Plantation Management Systems Market
The Global Smart Plantation Management Systems Market size was valued at USD 1,020.0 million in 2018, reaching USD 1,197.9 million in 2024, and is anticipated to attain USD 1,849.9 million by 2032, expanding at a CAGR of 5.67% during the forecast period.
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Farm Equipment Leasing Market
The Global Farm Equipment Leasing Market size was valued at USD 32,976.13 million in 2018 to USD 47,543.02 million in 2024 and is anticipated to reach USD 79,961.04 million by 2032, at a CAGR of 6.25% during the forecast period.
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Drought Tolerant Seeds Market
Drought Tolerant Seeds Market size was valued USD 8.89 billion in 2024 and is anticipated to reach USD 16.33 billion by 2032, at a CAGR of 7.9% during the forecast period.
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Smart Agriculture Market
The smart agriculture market was valued at USD 20.68 billion in 2024 and is projected to reach USD 51.93 billion by 2032, growing at a CAGR of 12.2% during the forecast period.
