Global Agriculture Industry Outlook Overview Report

Top 10 Agriculture Markets Will Grow From USD 81.5 billion In 2023 to USD 94.3 billion by 2024 at A YOY Increase of 15.7%.

The Agriculture Industry Outlook covers vertical farming market, plant breeding market, precision farming market, regenerative agriculture market, blockchain in agriculture market, smart irrigation market, connected agriculture market, agriculture drones’ market, and agricultural biologicals market.

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The agriculture industry anticipates a transformative journey from 2023 to 2024, with a focus on agricultural biologicals, the demand for sustainable and carbon neutral agriculture, and innovative technologies like farm automation, and precision agriculture. This period promises unprecedented innovation and heightened competition as companies strive to meet evolving technology integration and embrace ethical organic farming.

In 2023, the agriculture industry is experiencing significant developments, marked by the rise of sustainable practices, increased adoption of advanced technologies, and strategic initiatives by key players. Growing population, increasing demand for food, widespread implementation of technology in agriculture, and a surge in demand for organic and sustainable agriculture are primary demand drives.

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Top Key Companies in Global Agriculture Industry Outlook: In the rapidly evolving landscape of the agriculture industry, key companies are spearheading transformative initiatives across various sectors. In the agrigenomics industry Eurfins Scientific (Luxembourg), and Illumina Inc. (US) are leading the charge.

In the connected space IBM (US), AT&T (US), and Microsoft (US) are leveraging their expertise in technology to offer premium agricultural services. For organic agricultural production, Syngenta (Switzerland), UPL (India), BASF SE (Germany), Bayer AG (Germany), and Marrone Bio Innovation, Inc. (US) are at the forefront.

Additionally, in plant breeding and CRISPR Plants technologies companies such as Corteva, Inc. (US), BASF SE (Germany), and Bayer AG (Germany), are leading the charge by offering biotechnological and conventional methods of plant breeding to obtain desirable agriculture outputs.

The global drip irrigation market is estimated at USD 5.6 billion in 2024 and is projected to reach USD 8.6 billion by 2029, at a CAGR of 9.0% during the forecast period.

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The need for drip irrigation is driven by increasing global demand for food security, water scarcity concerns, and the imperative to enhance agricultural productivity sustainably. Drip irrigation addresses these needs by efficiently delivering water and nutrients directly to plant roots, minimizing wastage, and optimizing crop yields. Factors driving the drip irrigation market include advancements in technology such as AI and IoT integration, government incentives promoting water-efficient practices, expansion of commercial farming, and the rising adoption of precision agriculture techniques. These factors collectively propel the growth of drip irrigation systems, meeting the challenges of modern agriculture while ensuring environmental sustainability.

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Key players in this market include Rivulis (Isarel), The Toro Company (US), Jain Irrigation Systems Ltd. (India), HUNTERS INDUSTRIES INC. (US), NETAFIM (Isarel), Mahindra EPC Irrigation Limited (India), Rain Bird Corporation (US), Chinadrip Irrigation Equipment (Xiamen) Co., Ltd. (China), Elgo Irrigation Ltd. (Isarel), Shanghai Irrist Corp., Ltd. (China), Antelco (Australia), Microjet Irrigation Systems (South Africa), metzer (Isarel), Grupo Chamartin S.A. (Spain), and Azud (Spain).

The non-thermal pasteurization market is expected to experience significant growth, with a projected value of USD 5.7 billion by 2028 at a CAGR of 20.0% during the forecast period.

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One of the main drivers of growth in Europe is the increasing demand for minimally processed foods that retain their natural flavor, texture, and nutritional value. Consumers are becoming more health-conscious and are looking for food products that are free from preservatives and additives. Non-thermal pasteurization allows food manufacturers to meet this demand while still ensuring the safety of their products. Non-thermal pasteurization methods, such as HPP, PEF, and UV light treatment, are known to preserve the natural flavor, texture, and nutritional value of food products while still ensuring their safety. This has been documented in various studies, including a study published in the Journal of Food Science and Technology in 2021 that found that HPP can preserve the nutritional quality of orange juice while still ensuring its safety.

Key players in the market include JBT Corporation, Hiperbaric, Thyssenkrupp AG, Kobelco Construction Machinery Ltd., Lyras, Syntegon, Multivac, Stansted Fluid Power Ltd., Pulsemaster, Elea, Symbios Technologies, Clextral, Dukane, FresherTech, and Nordion.

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The global post-harvest treatment market was valued at USD 2.01 billion in 2022 and is projected to reach USD 3.12 billion by 2028, with a CAGR of 7.6% during the study period. Post-harvest losses of fruits and vegetables are estimated between 30 and 40%, resulting in significant food and financial waste. Post-harvest treatments play a crucial role in reducing these losses by extending the shelf life of produce and mitigating rot and deterioration. They offer economic benefits such as decreased food waste, increased profits, and enhanced market access. Additionally, they create opportunities for exporting exotic fruits like avocados, dragon fruits, and jackfruit, further driving market growth and sustainability.

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By type, coatings is projected to gain largest share in the post-harvest treatment market during the study period
The global commerce in fruits and vegetables is rapidly expanding. This necessitates the development of post-harvest treatments to assist preserve the freshness and safety of fruits and vegetables throughout transportation and storage. Organic and sustainable products are becoming increasingly popular among consumers. This is increasing demand for post-harvest treatments derived from natural and sustainable chemicals. Convenience foods, such as pre-cut and pre-washed fruits and vegetables, are growing popular among the consumers. This is creating a demand for coatings that can assist to increase the shelf life of these items while also making them more user-friendly. Thus, driving the growth of segment in the market.

By crop type, fruits is forecasted to be the largest segment in the market during the research period
Fruits are frequently consumed raw, which means they are not cooked or treated before consumption. As a result, they are more prone to deterioration and loss during post-harvest processing. Fruits are a seasonal crop, which means they are only accessible for a short period of time each year. This may raise the demand for post-harvest treatments, as producers and merchants seek ways to extend the shelf life of fruits in order to keep them available for extended periods of time.

By origin, synthetic segment is anticipated to occupy major share in the post-harvest treatment market during the study period
This is because they are less expensive to create and use, synthetic items are frequently more cost-effective than natural products. Synthetic products are often more easy to use than natural treatments since they are easier to apply and do not necessitate as much specialized equipment. A substantial corpus of research is being conducted to produce novel and creative synthetic post-harvest treatments. This is resulting in the creation of more effective, cost-efficient, and user-friendly goods.

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Key players in global post-harvest treatment market have strong distribution network and have strong financial records. These firms have experience of several years, well established manufacturing facilities, r&d centers, and skilled workforce. Prominent players in this market include JBT (US), AgroFresh (US), Syngenta Crop Protection AG (Switzerland), DECCO (US), and BASF (Germany).

The global commercial greenhouse market is on the brink of significant growth, presenting exciting opportunities for businesses and agricultural enthusiasts alike. According to a recent research report by MarketsandMarkets, titled “Commercial Greenhouse Market by Type, Crop Type, Equipment, and Region – Global Forecast to 2028,” this industry is poised to reach a staggering USD 68.7 billion by 2028, experiencing a robust CAGR of 11.6% during the forecast period in terms of value.

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Types of Greenhouses

One of the key findings of the report is the prominence of plastic greenhouses in this evolving market. These structures not only address environmental concerns but also offer higher yield capacities. With an increasing focus on research and development and the approval of innovative products, plastic greenhouses are gaining traction. Their versatility, ranging from small stand-alone structures to large gutter-connected greenhouses, positions them as a driving force in the commercial greenhouse market.

The Role of Hardware

Hardware plays a pivotal role in the greenhouse industry, providing the essential building blocks for efficient operations. Structural frameworks, ventilation systems, heating and cooling systems, lighting, irrigation systems, and automated controls are the linchpin components that ensure optimal growing conditions. These elements directly influence temperature, humidity, lighting intensity, and nutrient delivery, all of which are crucial for successful crop cultivation in controlled environments.

As the adoption of commercial greenhouses continues to grow, businesses and growers are prioritizing investments in advanced hardware solutions, promising consistent yields, higher-quality produce, and resource efficiency.

The Vegetable Advantage

In terms of crop types, vegetables claim the largest share of the commercial greenhouse market.

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Vegetables are a dietary staple worldwide, and commercial greenhouses provide an ideal environment for year-round cultivation. This capability aligns with consumer preferences shifting towards locally sourced and sustainably grown produce. The market's ability to provide fresh, environmentally conscious options resonates with the evolving demands of consumers.

Europe Leading the Way

Europe has emerged as a frontrunner in the commercial greenhouse market, accounting for the largest share in terms of value in 2022. Several factors contribute to the expansion of this market in Europe. The need for a year-round supply of vegetables and crops aligns with commercial greenhouses' ability to meet this demand effectively. Moreover, Europe's affinity for cutting-edge agricultural technologies, supportive government policies, and incentives for sustainable farming practices create a favorable climate for greenhouse adoption.

Key Players

The market's evolution wouldn't be possible without the contributions of key players such as Berry Global Group, Signify Holding, Heliospectra AB, PLASTIKA KRITIS S.A., EVERLIGHT ELECTRONICS CO., LTD, Prospiant, RICHEL GROUP, Argus Control Systems Limited, Certhon, LOGIQS.B.V., Lumigrow, Inc, Agra Tech, Inc, Hort Americas, Top Greenhouses, and Stuppy Greenhouse. Their dedication to innovation and quality products drives the industry forward.