Agriculture Global Market Exhibit a Remarkable CAGR of 7.7% and is Expected to Reach $19,286.79 Billion By 2028 | BASF SE, Dow Inc., Bayer AG, Nutrien Ltd., WH Group Limited

Overview and Scope
Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibers, biofuel, medicinal and other products used to sustain and enhance human life.

Sizing and Forecast
The agriculture market size has grown strongly in recent years. It will grow from $13272.75 billion in 2023 to $14356.23 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to population growth, globalization of trade, government policies, crop protection products, climate and weather patterns, rural development programs.

The agriculture market size is expected to see strong growth in the next few years. It will grow to $19286.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing sustainable agriculture practices, genetic engineering in crops, organic farming, vertical farming, water management solutionsglobal food security concerns. Major trends in the forecast period include precision agriculture technologies, integration of artificial intelligence in farming, digital marketplaces for agricultural products, utilization of autonomous farming equipment, adoption of farm management software.

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Segmentation & Regional Insights
The agriculture market covered in this report is segmented –
1) By Type: Animal Produce, Crop Production, Rural Activities
2) By Nature: Organic, Conventional
3) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

Subsegments Covered: Milk, Honey, Meat, Wool, Egg, Skin And Hide, Live Animals, Other Animal Produce, Grain Farming, Oilseed Farming, Fruit And Nut Farming, Vegetable Farming, General Crop Farming, Greenhouse, Nursery, And Flowers, Fishing, Hunting And Trapping, Forestry And Logging, Agriculture And Forestry Services

The Asia-Pacific was the largest region in the agriculture market in 2023. North America was the second largest region in the agriculture market. The regions covered in the agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The world’s population is growing and is expected to reach 10 billion by 2050. An increase in the population creates more demand for food. According to the Agricultural Outlook by the Organization for Economic Co-operation and Development (OECD) and FAO (Food and Agriculture Organization) published, global cereal production was projected to increase by 13% by 2027. Crop production, farming activities, and trade volumes will have to increase to meet the needs of the increased population. Agribusiness companies will increase acquisitions of arable land to increase crop production. Agriculture companies are expected to increase their presence and activities to meet increased demand from farming activities and increase their growth.

Key Industry Players
Major companies operating in the agriculture market report are Cargill Incorporated, Archer Daniels Midland Co., BASF SE, Wilmar International Ltd., Dow Inc., Olam International, Bayer AG, Tyson Foods, Deere & Company, Nutrien Ltd., WH Group Limited, Yara International ASA, CNH Industrial NV, Kubota Corporation, Syngenta AG, The Mosaic Company, Corteva Inc., The Andersons Inc., Charoen Pokphand Foods PCL, Land O’Lakes Inc., Mahindra & Mahindra Ltd., AGCO Corporation, Wens Foodstuff Group Co. Ltd., FMC Corporation, The Toro Company, Valmont Industries Inc., The Scotts Miracle-Gro Company, Flour Mills of Nigeria, Dairy Farmers of America, Bunge Limited

The agriculture market report table of contents includes:
1. Executive Summary