Global Agribusiness
Market Report
2024
Agribusiness market size is USD 33514845.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.00% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Agribusiness market size is USD 33514845.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.00% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 13405938.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 10054453.56 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 7708414.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 1675742.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 670296.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.
The Manufacturers held the highest Agribusiness market revenue share in 2024
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Agribusiness Market Sales Revenue 2024 | $ 33514800 Million |
Global Agribusiness Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3% |
South America Agribusiness Market Sales Revenue 2024 | $ 167574000 Million |
South America Agribusiness Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.4% |
Middle East and Africa Agribusiness Market Sales Revenue 2024 | $ 670297 Million |
Middle East and Africa Agribusiness Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.7% |
North America Agribusiness Market Sales Revenue 2024 | $ 13405900 Million |
North America Agribusiness Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.2% |
Europe Agribusiness Market Sales Revenue 2024 | $ 10054500 Million |
Europe Agribusiness Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.5% |
Asia Pacific Agribusiness Market Sales Revenue 2024 | $ 77081400 Million |
Asia Pacific Agribusiness Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5% |
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List of Competitors |
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Key Qualitative Information Covered |
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Agribusiness Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The agribusiness market includes a wide range of activities associated with agriculture production, processing, distribution, and marketing. Farming, cattle, forestry, fisheries, and agrochemicals are among the industries represented, along with input suppliers, equipment makers, and food processors. Agribusiness is critical to guaranteeing food security, strengthening rural economies, and driving global economic growth. With a growing global population and shifting food choices, the agriculture sector faces problems such as sustainability, climate change, and technological innovation. However, it also provides potential for investment, innovation, and value chain optimization to fulfill the rising demand for food, feed, fiber, and fuel in a fast changing global market.
The growing global population provides substantial difficulties to food production systems, prompting innovation and expansion in the agricultural sector. As the population expands, so does the need for food, putting tremendous strain on agricultural resources and infrastructure. Agribusinesses are at the forefront of tackling these difficulties by leveraging technological breakthroughs, sustainable farming techniques, and effective supply chain management. Precision agriculture, genetic engineering, and vertical farming are all examples of innovations that boost productivity and optimize resources. Furthermore, investments in R&D, infrastructure, and education are critical to guaranteeing food security and sustainability in the face of population expansion. Agribusinesses continue to play an important role in satisfying the changing needs of a growing global population while maintaining environmental sustainability and economic viability.
The increased consumer desire for high-value commodities such as fresh fruit, organic foods, and protein sources such as meat and fish is changing the agricultural landscape. Agribusinesses must react to changing demand by adopting more efficient farming practices and improving supply chain management. This includes using technology for precision agriculture, sustainable agricultural methods, and optimal distribution routes to ensure the quality and availability of these high-value commodities. Furthermore, expenditures in agricultural yield improvement research and development, disease resistance genetic engineering, and environmentally friendly production methods are critical for achieving consumer demands while increasing food security and sustainability. Agribusinesses play a critical role in meeting the growing demand for high-value commodities while addressing resource restrictions and environmental issues.
Climate change provides a significant threat to agriculture, resulting in extreme weather events such as droughts, floods, and unpredictable crop seasons. Agribusinesses are entrusted with creating resilient crops that can weather these obstacles, using techniques such as genetic manipulation and breeding for drought and disease resistance. Furthermore, improving water management tactics, such as establishing effective irrigation systems and water-saving techniques, is critical to minimizing the impact of climate change on crop yields. Furthermore, modifying farming operations to changing climatic circumstances, such as shifting planting times and diversifying crop kinds, can boost agricultural resilience. Agribusinesses play a crucial role in mitigating the effects of climate change on agriculture by implementing adaptive measures and encouraging sustainable practices that assure food security and agricultural sustainability in the face of changing climatic conditions.
The COVID-19 pandemic has had a huge global impact on the agribusiness economy, disrupting supply chains, changing consumer behavior, and increasing pre-existing agricultural difficulties. Lockdown measures and restrictions have hampered transportation and logistics, resulting in labor shortages and supply chain bottlenecks. Furthermore, changes in consumer preferences and eating habits have influenced demand for agricultural products. While certain industries, such as grocery retail, witnessed rising demand, others, such as food service and hotel, saw decreased demand. The pandemic also highlighted vulnerabilities in global food systems, forcing a renewed focus on agricultural resilience and sustainability. Overall, the agricultural market has encountered extraordinary challenges and modifications in response to the COVID-19 pandemic.
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The competitive landscape of the Agribusiness market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established electronics manufacturers, specialized Agribusiness companies, and emerging start-ups aiming to disrupt the market with innovative solutions.
Top Companies Market Share in Agribusiness Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America's agriculture market is expanding rapidly, owing to technology breakthroughs, novel agricultural practices, and rising demand for high-value commodities. Agribusinesses in the region are using precision agriculture, genetic engineering, and advanced supply chain management to increase production and satisfy changing consumer tastes. The region's good regulatory framework and supportive infrastructure contribute to market growth.
Asia Pacific stands out as the fastest-growing region in the Agribusiness market due to several compelling reasons. The agribusiness market is steadily expanding, driven by a focus on sustainable farming techniques, technology innovation, and rising consumer demand for organic and locally sourced goods. Agribusinesses in the region are investing in precision agriculture, renewable energy solutions, and eco-friendly farming techniques to meet severe environmental criteria while catering to changing customer expectations for healthy and ecologically conscious food options.
The current report Scope analyzes Agribusiness Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global Agribusiness market size was estimated at USD 33514845.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 167574226 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031. The agribusiness market in Latin America develops due to abundant arable land, suitable climate conditions, and diverse agricultural production. Soybeans, coffee, and sugarcane are among the region's most important exports, with Brazil leading the way. Latin American agribusinesses prioritize sustainable farming practices, technological innovations, and effective supply chain management to meet global food demand. With increased investment in infrastructure and research, as well as a growing emphasis on environmental protection, the Latin American agricultural sector continues to evolve, providing considerable growth potential and contributing to the region's economic development.
According to Cognitive Market Research, the Brazil Agribusiness market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. Agribusiness sales flourish in Brazil due to the innovation in biotechnology and seed development.
The Argentina Agribusiness market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period. The demand is augmented by Argentina's a strong demand for agricultural products exists both domestically and internationally.
The Colombia Agribusiness market is projected to witness growth at a CAGR of 2.2% during the forecast period with a market size of USD XX million in 2024.
The Peru Agribusiness market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD XX million in 2024.
The Chile Agribusiness market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD XX million in 2024.
The Rest of Latin America Agribusiness market is projected to witness growth at a CAGR of 1.5% during the forecast period with a market size of USD XX million in 2024
According to Cognitive Market Research, the global Agribusiness market size was estimated at USD 33514845.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 670296.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031. The Middle East and Africa (MEA) agribusiness market has problems due to harsh temperatures and limited arable land. Dates, olives, and citrus fruits, on the other hand, grow in specific environments. MEA agribusinesses use innovative methods such as vertical farming and drip irrigation to overcome environmental limits and increase productivity. With increased investment in agricultural technology and infrastructure, as well as rising need for food security, the MEA agribusiness sector offers prospects for growth and development, helping to strengthen the region's economic resilience and sustainability.
The GCC Countries Agribusiness market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD XX million in 2024. Agribusiness sales flourish due to the adoption of advanced agriculture technologies.
The Egypt Agribusiness market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 70381.17 million in 2024.
The South Africa Agribusiness market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD XX million in 2024. Agribusiness sales flourish in the South Africa due to the diverse crop production and export capacities.
The Turkey Agribusiness market is projected to witness growth at a CAGR of 2.2% during the forecast period with a market size of USD 57645.53 million in 2024.
The Nigeria Agribusiness market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD 70381.17 million in 2024.
The Rest of MEA Agribusiness market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD 79095.03 million in 2024
According to Cognitive Market Research, the global Agribusiness market size was estimated at USD 33514845.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 13405938.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.2% from 2024 to 2031. North America's agricultural market is growing, with increased technological adoption, sustainable farming techniques, and diverse crop output. The region's vast agricultural environment includes a variety of sectors, with the United States leading in grain and cereal production. North American agribusinesses use precision agriculture, biotechnology, and supply chain optimization to meet domestic and worldwide food demand. As customer preferences shift towards organic and locally sourced products, the region's agribusiness sector evolves, promoting growth and sustainability in the agriculture industry.
According to Cognitive Market Research, the US had a major share in the Agribusiness market with a market size of USD 10577285.15 million in 2024 and is projected to grow at a CAGR of 1.0% during the forecast period. The demand is amplified by the emphasis is on organic farming and sustainable agriculture.
The Canada Agribusiness market had a market share of USD 1608712.57 million in 2024 and is projected to grow at a CAGR of 2.0% during the forecast period. Canada's precision agriculture has seen technological progress.
The Mexico Agribusiness market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD 1219940.37 million in 2024.
According to Cognitive Market Research, the global Agribusiness market size was estimated at USD 33514845.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 10054453.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.5% from 2024 to 2031. The European agribusiness market places a high value on sustainability, innovation, and food quality. The region's agricultural environment is diverse, with segments including dairy, fruits and vegetables, and wine production. With strict environmental restrictions and a growing demand for organic and locally sourced products, European agribusinesses stress sustainable farming techniques, technology developments, and luxury food offers. As the region continues to pioneer sustainable agriculture projects, the European agribusiness sector remains dynamic, encouraging growth and resilience in the face of changing market trends and customer preferences.
The United Kingdom Agribusiness market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 2.3% during the forecast period. In the UK, Agribusiness sales witness an upswing due to the increased demand for high-value crops and protein sources.
The France Agribusiness market is projected to witness growth at a CAGR of 0.7% during the forecast period with a market size of USD XX million in 2024.
According to Cognitive Market Research, the Germany Agribusiness market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 1.7% during the forecast period. In Germany, Agribusiness sales surge due to the invest in sustainable farming techniques and technology.
The Italy Agribusiness market is projected to witness growth at a CAGR of 0.9% during the forecast period with a market size of USD XX million in 2024.
The Russia Agribusiness market is projected to witness growth at a CAGR of 0.5% during the forecast period with a market size of USD XX million in 2024.
The Spain Agribusiness market is projected to witness growth at a CAGR of 0.6% during the forecast period with a market size of USD XX million in 2024.
The Luxembourg Agribusiness market is projected to witness growth at a CAGR of 1.6% during the forecast period with a market size of USD XX million in 2024.
The Portugal Agribusiness market is projected to witness growth at a CAGR of 1.3% during the forecast period with a market size of USD XX million in 2024.
The Greece Agribusiness market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD XX million in 2024.
Rest of Europe Agribusiness market is projected to witness growth at a CAGR of 0.2% during the forecast period with a market size of USD XX million in 2024
According to Cognitive Market Research, the global Agribusiness market size was estimated at USD 33514845.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 77081414.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. The Asia Pacific agribusiness market is dynamic, driven by a wide range of agricultural techniques, evolving technologies, and rising food demand. China and India are the region's primary producers of rice, wheat, and vegetables, and the agricultural landscape includes aquaculture, horticulture, and cattle cultivation. As the region's urbanization and nutritional shifts accelerate, agribusinesses prioritize increasing production, implementing sustainable practices, and adapting to changing customer preferences. With considerable growth potential and increased investment in agricultural infrastructure, the Asia Pacific agribusiness market is expanding and innovating to fulfill the region's food need.
According to Cognitive Market Research, the China Agribusiness market size was valued at USD 3468786.48 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Agribusiness sales surge in China due to the increased urbanization and shifts in food preferences.
The Japan Agribusiness market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 1063761.19 million in 2024.
The India Agribusiness market had a market share of USD 925009.73 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. The demand is augmented by the government supports agricultural modernization.
The South Korea Agribusiness market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 770841.44 million in 2024.
The Australia Agribusiness market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 400837.55 million in 2024.
The South East Asia Agribusiness market is projected to witness growth at a CAGR of 6.0% during the forecast period with a market size of USD 531880.59 million in 2024.
The Rest of Asia Pacific Agribusiness market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 547297.42 million in 2024
Global Agribusiness Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Agribusiness Industry growth. Agribusiness market has been segmented with the help of its Type, Application Products, and others. Agribusiness market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Manufacturers stands out as the dominating category. Manufacturers contribute significantly to the growth of the agribusiness sector by manufacturing innovative agricultural machinery, equipment, and technology. These innovations improve agricultural efficiency, production, and crop yields. Manufacturers also help to sustainability by developing environmentally friendly farming solutions and supporting precision agriculture practices. Their continued efforts in R&D fuel the growth of the agriculture market.
Suppliers emerges as the fastest-growing category in the Agribusiness market. Suppliers help to stimulate growth in the agricultural market by providing vital inputs like as seeds, fertilizers, herbicides, and machinery. They play an important role in providing farmers with high-quality products, technical help, and new solutions designed to maximize agricultural production. Suppliers play an important role in the evolution and development of the agricultural sector by constantly updating their offers to satisfy changing market needs and environmental standards.
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According to Cognitive Market Research, the dominating category is Agrichemicals. Agrichemicals are driving growth in the agribusiness sector by providing critical inputs for crop protection and improvement. Agrichemical firms provide farmers with pesticides, herbicides, and fertilizers that assist them combat pests and weeds while also increasing plant growth and soil fertility. With rising global food demand and the need for more sustainable agricultural methods, agrichemical developments remain critical to agricultural production and profitability.
The fastest-growing category in the Agribusiness market is Seed Businesses. Seed businesses play an important role in fostering growth in the agriculture market by supplying high-quality seeds tailored to fulfill a wide range of agricultural needs. Seed firms use research and development to create varieties with higher yields, disease resistance, and environmental resilience. Seed companies help farmers improve agricultural production and sustainability by providing superior seed products and agronomic support, hence supporting market expansion.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Agribusiness market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the dominating category is Grains & Cereals. The agribusiness sector is expanding due to rising demand for grains and cereals, which are staple food products that serve as the cornerstone of global agriculture. With expanding populations and shifting dietary choices, demand for these commodities continues to rise. Agribusinesses that produce, process, and distribute grains and cereals play an important role in meeting demand and generating market growth.
The fastest-growing category in the Agribusiness market is Dairy. The dairy sector is a prominent driver of growth in the agriculture market, owing to rising global consumer demand for dairy products. Agribusinesses involved in dairy farming, processing, and distribution are critical to servicing this demand by guaranteeing high-quality milk production, product innovation, and efficient supply chain management. As customer preferences shift, the dairy industry expands, propelling growth in the agricultural market.
Research Analyst at Cognitive Market Research
I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.
I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.
I am committed to continuous professional development, regularly engaging in workshops, seminars, and staying attuned to the latest industry trends. This commitment reflects my dedication to providing cutting-edge insights and staying ahead in the ever-evolving field of research. I led research initiatives aimed at uncovering market opportunities and enhancing competitive positioning. My responsibilities spanned the entire research lifecycle, from designing methodologies to presenting findings. Through collaborative efforts, I facilitated data-driven decision-making processes that contributed to the overall success of key projects.
The global Agribusiness market will expand significantly by 3.00% CAGR between 2024 to 2031.
Consumers are turning away from traditional farming methods as urbanization increases. Agribusiness contributes to the development of rooftop gardens, vertical farming, and other cutting-edge strategies to move food production closer to urban areas.
An emphasis on sustainable farming methods is being driven by environmental concerns. There is a growing demand for agribusiness solutions that support soil health, water conservation, and less usage of fertilizers and pesticides.
Water is a crucial resource for the coffee industry, but reports of droughts and erratic rainfall are posing problems because of climate change. To promote the "Conscious Producer Investment Program (PIPC)" and other CCA initiatives that have already impacted 150,000 people, the Consórcio Cerrado das Águas (CCA) is working with the Cooperativa dos Cafeicultores do Cerrado (Expocacer) and other public and private sector companies to ensure greater water security and mitigate socio-environmental impacts. Among other accomplishments, these efforts include putting soil and water health principles into practice over 1,143 hectares, or 2,824 acres, and attaining an 86.63% carbon management index.
"The program offers producers specialized services for the environmental development of their properties in three areas: restoration, climate-smart agricultural practices, and efficient water resource management," stated Marcelo Urtado, a coffee grower and president of the CCA. We just started an irrigation project using electronic sensors and the first line of funding for water resilience, which resulted in a 30% water savings in the pilot project."
According to Reuters, U.S. vertical farming start-up Plenty and Mawarid, a division of Alpha Dhabi Holding (ALPHADHABI.AD), are entering into a $680 million joint venture to establish an indoor farm network in the Middle East. Over the following five years, the joint venture intends to construct five farms in the area. The corporations have committed a total of roughly $130 million toward the construction of an indoor farm in Abu Dhabi, which is anticipated to commence construction early in 2019 and potentially be operational by 2026. The farm wants to produce more than 4.5 million pounds of high-quality strawberries for export to the member countries of the Gulf Cooperation Council and domestic consumption. A local bank in the area also contributed debt to the financing, indicating a unique source of funding for the venture capital-funded indoor farming business, which has garnered billions of dollars. Vertical farms are marketed as a sustainable method of growing fruits and vegetables closer to the point of consumption while using less water. They operate using stacked layers in regulated indoor conditions.
Scaling output has been hampered by the high expenses of constructing new facilities and financing for indoor farming has decreased to only a fraction of what it was in 2021, according to PitchBook. "Compared to traditional agriculture, our target returns are substantially higher we're aiming for yields north of 20%. According to Plenty's CEO, Arama Kukutai, there is a lot of funding available in that environment. Plenty is situated in San Francisco. According to Plenty, Driscoll's, which controls the majority of the berry market in the area, has pre-sold strawberries grown on the farm in the United Arab Emirates. The collaboration takes place as the indoor farming industry looks for additional funding sources to support expansion. According to PitchBook, plenty raised $400 million at a $1.43 billion valuation at the beginning of 2022. Softbank and Walmart (WMT.N) are among the investors who have contributed nearly $940 million to Plenty to date. opens a new tab.
Due to rising consumer demand, Vietnam's agricultural exports to South Korea increased by 55% year over year in the first half of 2024 to US$164 million.
"On the fringes of the 2024 Vietnam-Korea Plus Partnership Week, which opened on Tuesday, Jeong Joon Kyu, CEO of the Korea Trade-Investment Promotion Agency in HCMC, stated that many Vietnamese agricultural products are preferred by South Korean consumers owing to their quality and competitive prices." Notably, pepper exports increased by 147% to $19.8 million and coffee exports increased by 39% to $75.6 million. South Korea has emerged as Vietnam's second-largest fruit and vegetable export market, according to Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association.
The largest exports to the market, he continued, are durian, bananas, pineapples, longans, dragon fruit, and mangos. Other exports, such as textiles, machinery, phones, computers, and electronic components, grew by 2-14%. At $12 billion, exports as a whole increased by over 11%. The Foreign Investment Agency's head, Do Nhat Hoang, stated during the occasion that South Korean companies have been making more investments in Vietnam. They have invested 75% of their nearly $87.5 billion in manufacturing thus far. He anticipated that soon, the amount would increase by $10 billion. Prime Minister Pham Minh Chinh met with numerous business executives who expressed interest in investing in Vietnam during a trip to South Korea in late June. Among them is tech behemoth Samsung, which declared it will make significant investments in the nation during the ensuing three years.
19 new products have been added by BASF to its Xitavo soybean seed range for the 2025 growing season. The Xitavo soybean seed portfolio now consists of 46 products with relative maturities ranging from 0.0 to 4.8. Farmers will have more options for the 2025 planting season due to the new genetics that BASF has created and is selling only through its Xitavo soybean seed portfolio. 98% of the U.S. market's soybean breeding effort was formerly devoted to four corporations. In response to farmers' constantly evolving needs, BASF is now offering new and distinctive germplasm on the market, along with a fresh supply of soybean varieties. This new source of germplasm for soybean seeds provides much-needed genetic diversity to assist improve yields even more, lower risk from heightened climatic difficulties, and lessen the strain of diseases that growers have faced recently. The 2025 Xitavo soybean seed class's products will have traits designed for yield performance as well as particular field conditions and stresses.
According to Marc Hoobler, BASF's U.S. Soybean Agronomy Lead, "BASF is dedicated to supporting farmers in carrying out the Greatest Task on Earth, and we are delighted to demonstrate that commitment through soybean germplasm breeding in the United States." "We are introducing a whole new pool of superior genetics that farmers have not yet had access to, in addition to new products," Hoobler advises producers to go after a few of the high-yielding novel products that include: XO 2625E, XO 2865E, XO 3105E, XO 3375E, XO 3855E. Over the last five years, Xitavo seed has shown an average genetic increase of 0.75 bushels per year due to investments in trait research and development as well as breeding. This yield gain rate is significantly higher than the 0.4 bu/A annual national average.
Nichino Mexico S. de R.L. de C.V. has declared the expansion of its product line to include the insecticide Apta (Tolfenpyrad). With an active substance that is patented by its parent business, Nihon Nohyaku Co., Ltd., this creative solution will provide our customers with a wide range of options together with the expert technical support that sets us apart. Nichino Mexico, a division of Nichino America Inc. and Nihon Nohyaku, is pleased to introduce this product to the Mexican market. This will enable us to increase our market share in crops like avocado, berries, and Solanaceae and assist farmers in managing economically significant pests. Nichino Mexico will begin selling Apta through our distributor network on July 11, 2024. As we diversify our offerings and increase our footprint across a range of crops, this addition represents a significant turning point for Nichino Mexico. We anticipate offering our clients more advantages when we begin the commercialization of Apta: Expertise and innovation, Technical support, and Commitment to quality. Justo Acosta, general manager of Nichino Mexico, stated, "We are delighted to expand our portfolio with products like Apta that allow us to participate in high-value crops, expand our presence in the field, and support our growers as well as support our business partners by complementing our value offering."
Alltech has signed a two-year strategic agreement with Meat Business Women, reaffirming its commitment to promoting gender diversity, equality, and inclusion throughout the global livestock and food supply chain. Meat Business Women and Alltech will cooperate to draw in new talent to the agri-food industry while also providing seminars and tools for mentoring and growth to team members. Alltech is a strategic partner that will help the group's broader goal of increasing the visibility of women in the meat business by contributing its knowledge and ideas to its strategic direction. Additionally, the organizations will work together to host two regional "Community Connect" events that will give professionals operating throughout the whole agri-fo supply chain the chance to network. "We are promoting good change in the profession as well as personal development by giving women access to priceless tools and networking opportunities. "Alltech feels that diversity fosters innovation, fosters creativity, and is fundamental to the company's mission of Working Together for a Planet of Plenty." "We are delighted that Alltech has joined the Meat Business Women family as a strategic partner and look forward to working closely with their brilliant team," stated Harriet Wilson, director of partnerships at Meat Business Women. "We're thrilled that Alltech [has] kindly agreed to support us with these two events across the UK and the Republic of Ireland so that even more of our community can come together, learn, connect, and develop their careers. We know that networking is a crucial skill for women to develop." The official global professional network of the United Nations for women employed in the meat industry is called Meat Business Women. It was established to increase the sustainability of the meat business and expand the pool of talented women in what is typically thought of as a male-dominated field.
The Canadian company will be able to focus on its consumer packaged goods as a result of the separation, and its pork business will continue to grow independently under a new name. "With each of these exceptional companies having a unique value offer an opportunity for expansion, this acquisition marks the beginning of a new era to unlock their full potential,” Maple Leaf Foods' president and CEO, Curtis Frank said. In tandem with an unwavering dedication to sustainability and safety, Maple Leaf Foods and the new Pork Company, as distinct businesses, will each have bright futures, a focused management team, and a sharpened execution focus. They will also have the financial freedom to pursue their value-creation strategies. The new company's management team will be led by Dennis Organ, the incoming CEO. In February 2023, he began working for Maple Leaf Foods as the president of the pork complex. With over 27 years of experience in the food sector, Organ spent 11 of those years as a senior leader at Smithfield Foods, holding positions such as chief operating officer and chief executive officer. The upcoming months will see the announcement of the new company's name. According to the statement, Maple Leaf Foods will hold a 19.9% ownership stake in the new pork firm. The board of directors at Maple Leaf has accepted the separation, which is scheduled to be finalized in 2025. As the sector starts to turn a profit, the production of pork worldwide has started to stabilize. The sector saw a change in the second quarter of 2024, according to Rabobank's quarterly report, as the number of sow herds started to stabilize following a period of decrease. The optimistic view was bolstered by lower manufacturing costs in the majority of regions and higher-than-expected consumer numbers.
The Amalgamation Group's flagship enterprise is TAFE, an unlisted company situated in Chennai. Initially, TAFE Motors will produce up to 30,000 2.2 L (50-75 hp) and 2.9 L (75-100 hp) engines for Deutz to be able to supplement and enhance the group's extensive engine line-up across all emission standards.
TAFE Motors will build engines to meet Deutz's demands as well as the requirements of the Indian market's latest applications. The production of the engines will take place at its plant in Alwar, Rajasthan. DEUTZ plans to leverage the manufacturing base in India to market the remaining engines in nearby markets, particularly in the Asia-Pacific region.
Through the partnership, DEUTZ can expand its supply chain within the new geopolitical environment. Additionally, it gives the German industry access to a developing market with enormous potential for smaller combustion engines. Its engine division, which is well-established in the retail, agriculture, telecom, and industrial sectors, produces particularly developed engines for automobile and stationary applications. The company, which has its headquarters in Alwar, Rajasthan, produces diesel engines and gensets between 5 and 125 kVA. These products are sold as TMTL Engines (62.5 kVA and above) and Eicher Engines (up to 45 kVA). The transmissions section can produce a variety of gears, shafts, and housings for OEMs and captive consumers at its cutting-edge manufacturing site in Parwanoo, Himachal Pradesh.
BMS Australia had chosen Ceri Martin as the division's leader. A specialized insurance and reinsurance broker with offices in London announced the opening of its Agriculture business. The launch of this new company is a component of BMS's worldwide plan to expand its specialty line knowledge within the areas it has targeted. Martin joins BMS Australia with a plethora of agricultural experience, having previously worked for the multinational farming services company Nutrien. Martin had worked in a variety of positions over the years, starting with property underwriting and working his way up to farm broking portfolio establishment and agricultural risk advising specialist. She had worked in a variety of Australian locations, such as Toowoomba/Western Downs, the Northern Territory, and Brisbane.
Farmers now deal with a variety of problems, such as supply chain complexity and concerns related to climate change and sustainability. BMS is in a good position to support farmers in navigating these changing threats. Strong market linkages, as well as local and international wholesale and MGA capabilities, allow BMS to provide customized insurance solutions that are genuinely useful for the agricultural industry. According to Martin, "Digital agriculture is becoming increasingly crucial as farming becomes more sophisticated. The landscape of Australian agriculture has significantly shifted."
"We must assist our farmers in navigating these changes, protecting their farms and filling a void in the market by providing dynamic and innovative solutions in place of conventional insurance choices. To support our farmers when they navigate this changing environment, I am eager to develop and fortify my ties with them," she continued.
The amount surpasses a $3 million initial goal and was received shortly after the US subsidiary Ranchbot, which employs 12 people, was launched. The company is targeting a market ten times larger than its Australian base. Founded in 2014 by Craig Hendricks and Andrew Coppin, Farmbot currently has 70 employees, 20 of whom work in R&D and manufacturing at the company's Sydney headquarters. By the end of 2022, slightly over 3,000 farms and stations used its system; today, over 3,500 run."Securing this capital raise has paved the way for our upcoming expansion. Farmbot co-founder and managing director Andrew Coppin states, "This substantial equity will allow Farmbot to fulfill its growth aspirations both here in Australia and accelerate our growth in the American subsidiary, Ranchbot." The most important resource in agriculture is water, and maintaining and inspecting water sources can result in significant hidden costs for farming and ranching businesses. "Farmbot's innovative technology is fostering better communication and data exchange for farmers, as well as enabling more sustainable and productive farming practices."This partnership is evidence of our commitment to advancing Agtech innovation on Australian farms and our faith in the revolutionary potential of technology in agriculture."
Disclaimer:
Type | Manufacturers, Suppliers, Research & Development, Others |
Application | Agrichemicals, Seed Businesses, Breeding, Machinery and Equipment, Others |
Products | Grains & Cereals, Dairy, Oilseeds, Livestock, Others |
List of Competitors | Monsanto, DowDuPont, Nestlé, BrasilAgro, Cargill, Bunge, LT Foods, Associated British Foods, CHS, Cairo Poultry Company, Syngenta, Bayer CropScience, Wilmar |
This chapter will help you gain GLOBAL Market Analysis of Agribusiness. Further deep in this chapter, you will be able to review Global Agribusiness Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Agribusiness Market Trends North America Agribusiness Technological Road Map North America Agribusiness Market Drivers North America Agribusiness Market Restraints North America Agribusiness Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
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Chapter 9 Qualitative Analysis (Subject to Data Availability)
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Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Products Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Agribusiness market
Chapter 13 Research Findings
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Why Manufacturers have a significant impact on Agribusiness market? |
What are the key factors affecting the Manufacturers and Suppliers of Agribusiness Market? |
What is the CAGR/Growth Rate of Agrichemicals during the forecast period? |
By type, which segment accounted for largest share of the global Agribusiness Market? |
Which region is expected to dominate the global Agribusiness Market within the forecast period? |
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