Forecast market value of smart agriculture worldwide in 2017 to 2026 (in billion U.S. dollars)
|Characteristic||Market value in billion U.S. dollars|
How much money is there in the agriculture industry?
· Agriculture: A $2.4 Trillion Industry Worth Protecting. Over one billion people worldwide work in agriculture generating $2.4 trillion for the global economy. Plant science innovations are vital to keep crops healthy and maintain this thriving economy. Check out these five graphics which show just how important it is to protect the farming industry.
How many people work in agriculture worldwide?
· The global agriculture market is expected to grow from $9602. 79 billion in 2020 to $10181. 92 billion in 2021 at a compound annual growth rate (CAGR) of 6%.
Why is the agriculture industry important to the United States?
· Agriculture is also crucial to economic growth: in 2018, it accounted for 4% of global gross domestic product (GDP) and in some least developing countries, it can account for more than 25% of GDP.
What is the largest agricultural company in the world?
· The global food & agriculture technology and products market size is projected to grow from USD 494.9 billion in 2018 to USD 729.5 billion by 2023, at a …
How much is the agriculture industry worth Worldwide 2020?
The global agriculture market is expected to decline from $9997 billion in 2019 to $9890 billion in 2020 at a compound annual growth rate (CAGR) of -1.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it.
How much is the farming industry worth?
What is agriculture’s share of the overall U.S. economy? Agriculture, food, and related industries contributed $1.055 trillion to the U.S. gross domestic product (GDP) in 2020, a 5.0-percent share. The output of America’s farms contributed $134.7 billion of this sum—about 0.6 percent of GDP.
How much is the global farming industry worth?
Global vertical farming market projection 2019 & 2025 In 2020, the vertical farming market reached some 5.5 billion U.S. dollars , but the market value is expected to increase to about 20 billion U.S. dollars by 206.
Is agriculture the largest industry in the world?
Agriculture is the world’s largest industry. It employs more than one billion people and generates over $1.3 trillion dollars worth of food annually. Pasture and cropland occupy around 50 percent of the Earth’s habitable land and provide habitat and food for a multitude of species.
How big is agriculture industry globally?
[249 Pages Report] The global agriculture analytics market size is expected to grow from USD 0.8 billion in 2020 to USD 1.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.
How much of GDP is agriculture?
The share of agriculture in GDP increased to 19.9 per cent in 2020-21 from 17.8 per cent in 2019-20. The last time the contribution of the agriculture sector in GDP was at 20 per cent was in 2003-04.
How much is the agriculture industry worth UK?
£120 billionToday, farming and agriculture is worth a whopping £120 billion to the UK economy, employing over four million people. With 149,000 farm businesses spread across the nation, farming offers a greater contribution to the UK economy than the motor trade, education, finance and insurance.
How much money does the agriculture industry make in Canada?
In 2020, the whole agriculture and agri-food system: employed 2.1 million people. provided 1 in 9 jobs in Canada. generated $139.3 billion (around 7.4%) of Canada’s gross domestic product (GDP)
How large is the vertical farming industry?
The vertical farming market size was valued at $3.24 billion in 2020, and is projected to reach $24.11 billion by 2030, registering a CAGR of 22.9%. The building-based structure segment has been positively impacted by the emergence of COVID-19 pandemic.
What is the number 1 industry in the world?
That’s right, the financial industry is the largest industry in the world! Totalling $109 trillion, it dwarfs the competition. (1) For comparison, real estate is worth $33 trillion and retail amounts to $26 trillion.
What are the 5 largest industries in the world?
The 10 Global Biggest Industries by EmploymentGlobal Consumer Electronics Manufacturing. 17,430,942.Global Commercial Real Estate. 17,164,710.Global Fast Food Restaurants. 13,458,146.Global HR & Recruitment Services. 11,988,376.Global Apparel Manufacturing. 9,675,672.Global Hotels & Resorts. … Global Coal Mining. … Global Tourism.More items…
Which is the richest sector in the world?
Our annual ranking of the world’s largest corporationsIndustry rankIndustry2008 %1Mining, Crude-Oil Production19.82Pharmaceuticals19.13Tobacco12.34Food Consumer Products11.931 more rows
What is the agriculture market?
The agriculture market consists of sales of agriculture and related services by entities (organizations, sole traders and partnerships) that provide agriculture and related services such as animal and crop produce and other support services. Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibres, …
What are the major companies in the agriculture market?
Major companies in the agriculture market include Cargill; JBS S. A. and Tyson Foods. The global agriculture market is expected to grow from $9602. 79 billion in 2020 to $10181. 92 billion in 2021 at a compound annual growth rate (CAGR) of 6%. New York, Feb. 01, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release …
Why are agribots needed?
Shortage of labor and increasing demand for advanced agriculture tools in many countries is driving the demand for agriculture robots or agribots. Agribots are used in farmlands for pruning, weeding and spraying pesticides and herbicides. They are connected to tractors for spraying water, seeds, pesticides, nutrients and harvesting.
Which region has the largest agricultural market?
Asia Pacific was the largest region in the global agriculture market, accounting for 57% of the market in 2020. South America was the second largest region accounting for 12% of the global agriculture market. Middle East was the smallest region in the global agriculture market.
How many people will be in the world by 2050?
World population is growing and is expected to reach 10 billion by 2050. Increase in 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 in 2018, global cereal production was projected …
Why is agriculture important?
Healthy, sustainable and inclusive food systems are critical to achieve the world’s development goals. Agricultural development is one of the most powerful tools to end extreme poverty, boost shared prosperity, and feed a projected 9.7 billion people by 2050. Growth in the agriculture sector is two to four times more effective in raising incomes among the poorest compared to other sectors. Analyses in 2016 found that 65% of poor working adults made a living through agriculture.
How did the Agriculture Sector Project help the cashew industry?
To aid the cashew industry, the Bank also supported a research program that helped disseminate 209 genotypes of high-performing trees and establish 18 nurseries. The Bank-financed project also helped leverage US$27.5 million in private investment to boost productivity on at least 26,500 hectares.
How has the Bank of Madagascar boosted the productivity of farmers?
The Bank also supported the cocoa sector through research, the development of certified seeds, and promotion of improved production and processing techniques. This allowed 4,000 cocoa producers to increase their incomes and increase production and export volumes by 50%. The Bank also financed the country’s largest land rights registration, facilitating the delivery of over 200,000 land certificates to farmers.
What is the World Bank’s Food and Land Use and Restoration Global Platform?
The World Bank leads the Food Systems, Land use and Restoration Global Platform (FOLUR), financed by the Global Environment Facility , in partnership with UNDP, the UN Food and Agriculture Organization (FAO), the Global Landscapes Forum and the Food and Land-use Coalition. FOLUR aims to promote sustainable, integrated landscapes and green the value chains of eight major food commodities.
What is the leading cause of death worldwide?
Risks associated with poor diets are also the leading cause of death worldwide. Millions of people are either not eating enough or eating the wrong types of food, resulting in a double burden of malnutrition that can lead to illnesses and health crises.
What is the World Bank’s role in CGIAR?
The World Bank chairs the System Council of CGIAR , a global partnership that advances cutting-edge science to reduce rural poverty, increase food security, improve human health and nutrition, and ensure sustainable management of natural resources.
What is the role of the World Bank in the Global Agriculture and Food Security Program?
The World Bank plays three distinct roles of Trustee, project implementation partner, and host to the secretariat.
What is the agricultural industry worth?
The global agricultural industry is worth USD 2.4 trillion, making it one of the largest and definitely the most important industries in the world. The industry isn’t just massive with respect to the annual turnover, but also significant as it employs the largest global population; amounting to close to 1 billion people globally. Worldwide, Cargill remains the biggest and topmost agricultural company with over USD 114 billion turnovers in 2020. ADM and Bayer together with Cargill make up the top 3 agriculture companies in the world.
How much of the world’s GDP is agriculture?
Agriculture contributed around 4% of the global GDP in 2019, whereas, for some developing countries, the agriculture industry accounted for as much as 35% of their GDP. In the USA, nearly 22 million people were employed in the agricultural industry (either full-time or part-time). This means that agriculture alone accounts for around 11% …
What is the biggest agricultural company in the world?
Worldwide, Cargill remains the biggest and topmost agricultural company with over USD 114 billion turnovers in 2020. ADM and Bayer together with Cargill make up the top 3 agriculture companies in the world. With the ever-increasing human population, there is a massive demand for food supply, which is also the biggest driver for …
How many employees does Cargill have?
Cargill is also one of the biggest employers in the USA with over 166,000 employees working for the company in over 66 countries worldwide. The company is responsible for about 25% of the grain exports from the USA. Last year’s revenue for the company was USD 114.69 billion, making it the top agriculture company in the world.
How much will agriculture increase by 2050?
According to some estimates, the largest agriculture businesses will have to increase their food production by nearly 70% as compared to 2007, to meet the increasing food demand by 2050.
How much did John Deere’s last year turnaround cost?
John Deere’s last year turnaround reached USD 37.35 billion, making it 4th on the list of the top agriculture companies globally.
Why is agriculture important?
Today, as we stand at the helm of the largest population burst in human history, the key to food security remains in integrating modern technology. That’s also what’s common among all of the companies listed in our list of top 5 biggest agriculture companies in the world. All of these companies are leveraging technology to not only maximize yield and meet massive food demand but also to keep processes more efficient and affordable for end-users.
What is the agricultural technology market?
In 2021, the agricultural technology (Agtech) market value in North America stood at approximately 6.2 billion U.S. dollars, the largest market value when compared to other regions throughout the world. The Agtech market consists of the following segments: Agricultural Management Platforms, Supply Chain & Inventory Management Solutions, GPS Services & Field Mapping Services, Agricultural Monitoring Services, and Micro-farming Solutions.
How long will agriculture technology be available?
Agricultural technology (Agtech) market value worldwide from 2020 to 2025, by region (in million U.S. dollars) You need a Single Account for unlimited access. Add this content to your personal favorites. These can be accessed from the favorites menu in the main navigation.
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What is the market size of agriculture equipment?
The global agriculture equipment market size was valued at USD 139.0 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% from 2019 to 2025. Adoption of modern technologies by farmers to increase farm yield and meet the soaring demand for food is expected to be a key factor driving the market.
Why is the global farm machinery market growing?
The global market is expected to witness significant growth over the forecast period owing to rising incorporation of innovative technologies in farm machinery. For instance, various farm machinery manufacturers are concentrating on integrating technologies such as Google Earth, GPS, and robotic systems into present equipment to improve productivity. Another key reason for the predicted growth is government subsidies and low rates offered to farmers in emerging countries to adopt agricultural machinery.
What are the key players in the global market?
Key players in the market include John Deere, AGCO, Mahindra & Mahindra, CNH Industrial N.V., Iseki & Co., Ltd., and Kubota. These players compete on parameters such as quality and availability of products as well as technological advancements. Furthermore, mergers and acquisitions are being undertaken as an attempt to gain market share and expand their product portfolio.
What is the market share of harvesters in 2025?
Harvesters are expected to account for a share of over 21.0% in the agriculture equipment market by 2025, registering a CAGR of more than 10.0% over the forecast period. This growth is attributed to the fact that farmers are increasingly preferring harvesters to increase production and limit dependency on farm labor.
What are the benefits of agricultural robotics?
Technologically-advanced agricultural robotics, such as ground-based sensors, autonomous tractors, and flying drones, aid farmers in producing food at low costs to fulfill growing demand for food. Farmers are gradually becoming tech-savvy and adoption of GPS software products and tractors equipped with telematics are anticipated to spur sales of agriculture machinery over the forecast years. Furthermore, growing usage of cost-cutting strategies for designing farm equipment is projected to offer key growth opportunities players. An escalating number of suppliers, coupled with growing number of government subsidies, is predicted to offer growth avenues for market expansion.
What countries are producing farm machinery?
Strong economic growth in developing countries such as China, India, and Middle Eastern countries is projected to drive the farm machinery industry. Asia Pacific is expected to emerge as the largest market and witness the fastest growth over the forecast period. China alone held over 30.0% of the regional revenue in 2018. Regional growth can be ascribed to low level of mechanization and large area of agricultural land. However, mechanization of various agricultural processes is evolving progressively in Asia Pacific, which is estimated to spur demand for agricultural machinery over the forecast period.
How does agriculture equipment help farmers?
Agriculture equipment enable easy farming; it makes the process simpler and more profitable by enhancing crop quality and reducing labor cost. The market is expected to witness high growth over the forecast period owing to amalgamation of several novel technologies in this arena.
What is value added in agriculture?
Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation …
Why is agricultural output not exchanged?
In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household ) or not exchanged for money. Agricultural production often must be estimated indirectly, using a combination of methods involving estimates of inputs, yields, and area under cultivation.
What is value added in the United Nations?
The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes).
Which countries are involved in farming?
The principal countries/regions of origin were Canada, the European Union, and Mexico. Farming also involves significant production costs. A closer look at the composition of these costs shows that feed made up the largest share, followed by costs associated with farm services, livestock and poultry.
What countries are exporting agricultural products in 2020?
In 2020, exports of agricultural products were worth some 164 billion U.S. dollars. The most important countries of destination were China, Canada, and Mexico. Conversely, imports worth around 130.2 billion U.S. dollars made their way into the United States that same year. The principal countries/regions of origin were Canada, the European Union, and Mexico.
Is the United States a leading agricultural producer?
Thanks to its natural resources and land conditions, the United States was always destined to be one of the world’s leading agricultural producers and suppliers.