UK Agribusiness Market

UK Agribusiness Market Overview:

The UK agribusiness market size reached USD 112.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 161.08 Billion by 2032, exhibiting a growth rate (CAGR) of 3.70% during 2024-2032. The market is driven by the increasing access to advanced farming equipment and machinery, the rising focus on animal welfare, significant growth in agro-tourism, the growing agricultural research and development activities, continual advancements in precision agriculture, considerable growth in export opportunities, the escalating demand for local and traceable food, and the rapid expansion of organic farming.

UK Agribusiness Market Trends:

Increasing automation in agriculture

Automation in agriculture is an emerging trend that is influencing the market growth. Automation removes the need for human intervention in all stages of agricultural production. It aids in data capture and field scouting to increase farmer engagement. Automation of sowing, watering, harvesting, early pest identification, and utilization of agricultural input resources, in conjunction with remote crop health monitoring, are helping to raise agricultural output, improve financial sustainability, and reduce food losses. Furthermore, artificial intelligence (AI) can aid in crop management and yield optimization by analyzing data from a range of sources. The data generated by automated systems can provide valuable insights into how decisions are made to eliminate production difficulties and supply chain inefficiencies. Thus, the adoption of automation in agriculture is likely to have a beneficial impact on the market's growth over the forecast period.

Rising population and food demand

The increasing population and increasing food requirements are playing a major role in the market of agribusiness in the United Kingdom. Ensuring that there is a stable and adequate food supply becomes more important as the population of the UK increases. This demographic change is putting more strain on the agricultural system, which has to adapt in order to produce more food. However, the prediction for the UK population is to rise to 69.2 million by mid 2030. This growing population will in turn compel an increase in food production. It has also driven farmers and agribusinesses to seek other better and cost-effective alternatives in production. Such a growth in population leads to the need for improvement in yield enhancing agricultural technologies and practices that are less harmful to the environment. To fulfill the increasing food supply expectations, agribusinesses are resorting to state-of-the-art crop farming techniques like precision farming, which is information and technology intensive crops and related inputs management. This includes using drones, sensors, and other controlled devices to check on the health of crops and soil, as well as their water requirements. Additionally, the increased demand for food is leading to a greater focus on improving distribution networks and expanding into new markets to address the increased demand.

UK Agribusiness Market News:

• June 3, 2024: Bayer announced its latest digital innovation, MagicTrap, at this year’s Cereals Event. This cutting-edge tool is designed to help growers remotely monitor the migration and distribution of critical pests affecting oilseed rape crops. MagicTrap is a state-of-the-art yellow water trap that operates fully automatically, delivering real-time updates on pest activity. The device is capable of autonomously detecting, categorizing, and quantifying various insects, distinguishing between harmful pests and beneficial species.
• January 4, 2024: The UK government introduced the biggest upgrade to farming schemes since leaving the EU, with a focus on sustainability and productivity. The new measures include more tailored support for farmers through schemes like the Sustainable Farming Incentive and grants for farm technology and infrastructure improvements. These changes aim to strengthen the UK agribusiness sector by fostering environmental stewardship while boosting profitability.

UK Agribusiness Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product and application.    

Product Insights:

• Grains and cereals
• Dairy
• Oilseeds
• Livestock
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes grains and cereals, dairy, oilseeds, livestock, and others.

Application Insights:

• Agrichemicals
• Seed business
• Breeding
• Machinery and Equipment
   

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes agrichemicals, seed business, breeding, and machinery and equipment.

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Agribusiness Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK agribusiness market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UK agribusiness market?
• What is the breakup of the UK agribusiness market on the basis of product?
• What is the breakup of the UK agribusiness market on the basis of application?
• What are the various stages in the value chain of the UK agribusiness market? 
• What are the key driving factors and challenges in the UK agribusiness?
• What is the structure of the UK agribusiness market and who are the key players?
• What is the degree of competition in the UK agribusiness market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK agribusiness market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK agribusiness market.
• 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 UK 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.