Agribusiness Market

Market Overview:

The global agribusiness market size reached US$ 3.3 Trillion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.3 Trillion by 2032, exhibiting a growth rate (CAGR) of 2.89% during 2024-2032. The changing dietary preferences, rising global population, rapid globalization and trade, growing environmental sustainability, government policies and regulatory framework, technological advancements in the agricultural sector represent some of the factors driving the market.

Agribusiness refers to the integration of agriculture and business principles in the production, processing, and distribution of agricultural products. It encompasses the entire value chain of agricultural activities, combining elements of farming, manufacturing, and trade. In agribusiness, farmers and agricultural producers are involved in the cultivation of crops or rearing of livestock, and strategic decision-making, risk management and market analysis. Agribusiness enterprises often operate on a large scale, utilizing advanced technologies, modern farming practices, and efficient supply chain management. It plays a crucial role in meeting the ever-increasing demand for food, feed, fiber, and fuel in a rapidly growing global population. It focuses on optimizing productivity and profitability while ensuring sustainability and responsible resource management. Agribusiness also involves agro-processing, adding value to raw agricultural products through activities such as milling, packaging, and food manufacturing.

Agribusiness Market Trends:

The shifting dietary patterns, particularly in emerging economies, toward more protein-rich foods like meat, dairy, and fish is driving the need for increased livestock production and associated agribusiness activities. Additionally, agribusiness is expanding to produce more agricultural products to meet the rising population's nutritional requirements. Besides this, with the growing concerns about environmental issues, climate change, and resource scarcity, sustainable agriculture practices, including precision farming, water management, soil conservation, and biodiversity protection, are gaining popularity, which is shaping the agribusiness landscape. Besides this, rapid globalization and trade are transforming the agribusiness market as International trade agreements, market access, and tariff policies impact the export and import of agricultural products. Other than this, extensive investments in improving rural infrastructure, cold chains, and market linkages is playing a crucial rule for the success of agribusiness. contribute to the growth of the sector. Furthermore, government policies related to agriculture, food safety, labeling, subsidies, and agricultural research and development have a significant influence on the agribusiness sector. In line with this, the technological advancements in the agricultural sector is revolutionizing the agribusiness market. For instance, innovations in areas, such as precision farming, agricultural biotechnology, and smart farming techniques, enable increased productivity, efficient resource management, and enhanced quality control. These factors are expected to provide a favorable market outlook in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global agribusiness market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on the product.

Product Insights:

• Grains
  • Wheat
  • Rice
  • Coarse grains-ragi
  • Sorghum
  • Millets
• Oilseeds
  • Wheat
  • Rice
  • Coarse grains-ragi
  • Sorghum
• Dairy
  • Liquid milk
  • Milk powder
  • Ghee
  • Butter
  • Ice-cream
  • Cheese
  • Others
• Livestock
  • Pork
  • Poultry
  • Beef
  • Sheep meat
• Others
   

The report has provided a detailed breakup and analysis of the agribusiness market based on the product. This includes grains (wheat, rice, coarse grains-ragi, sorghum and millets), oilseeds (wheat, rice, coarse grains-ragi) and ragi, dairy (liquid milk, milk powder, ghee, butter, ice-cream, cheese, and others), livestock (pork, poultry, beef, and sheep meat), and others. According to the report, grains represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for agribusiness. Some of the factors driving the North America agribusiness market included technological advancements, shift in consumer preferences, and trade and export opportunities.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global agribusiness market. Also, detailed profiles of all major companies have been provided. Some of the companies covered include ABP Food Group, Archer-Daniels-Midland Company, Associated British Foods Plc, BASF SE, Bayer AG, Bunge Limited, Cargill Incorporated, CHS Inc., Nippon Soda Co. Ltd., Nutrien Ltd., Syngenta AG (China National Chemical Corporation), Wilmar International Limited., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Agribusiness Market Report Scope:

Key Questions Answered in This Report:

• How has the global agribusiness market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global agribusiness market?
• What is the impact of each driver, restraint, and opportunity on the global agribusiness market?
• What are the key regional markets?
• Which countries represent the most attractive agribusiness market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the agribusiness market?
• What is the competitive structure of the global agribusiness market?
• Who are the key players/companies in the global agribusiness market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the agribusiness market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global agribusiness market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the agribusiness industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.