The agricultural commodity market size has grown strongly in recent years. It will grow from $208.83 billion in 2023 to $220.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. During the historic period, growth was driven by factors such as increased crop yields, enhanced nutritional value of agricultural products, expanded agricultural production, improvements in water efficiency in farming practices, and rising income levels among agricultural communities.
The agricultural commodity market size is expected to see strong growth in the next few years. It will grow to $277.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The forecasted growth can be attributed to increasing demand for healthier diets, rising adoption of hydroponic farming methods, growing interest in renewable energy sources, expanding global population, evolving consumer preferences, and increasing demand for biofuels. Major trends anticipated in the forecast period include advancements in technology, adoption of sustainable farming practices, biotechnological innovations, shifts in dietary preferences towards healthier options, and the widespread adoption of digital agriculture solutions.
The agricultural commodity market is set to grow driven by increasing demand for healthier diets. Healthier diets promote physical well-being and lower the risk of chronic diseases, fueled by rising health awareness, concerns over food safety, weight management goals, chronic disease prevalence, and access to nutritious food options. Agricultural commodities play a crucial role in supporting these diets by providing essential nutrients, offering diverse food choices, and enhancing overall health and wellness. For instance, according to the 2022 Food and Health Survey by the International Food Information Council (IFIC), 52% of Americans followed specific diets or eating patterns, up from 39% in 2021, with popular choices including clean eating, mindful eating, and calorie counting. This trend underscores the increasing demand for healthier diets driving growth in the agricultural commodity market.
Leading companies in the agricultural commodities market are focusing on innovation with products such as agri-sectoral indices. These indices track the performance of specific segments within the agricultural industry, providing standardized measures for commodities such as guar seed and soybeans. For example, India's National Commodity and Derivatives Exchange launched NCDEX GUAREX and NCDEX SOYDEX in July 2021, India's first agricultural sectoral indices. These indices enhance market transparency, facilitate risk management, and offer investment opportunities in critical agricultural commodities.
In December 2023, Rovensa Group, a Portugal-based agricultural technology and crop protection solutions company, acquired Agro-K Corporation to bolster its presence in the biostimulant market and expand its portfolio in the US agricultural sector. Agro-K Corporation specializes in organic and sustainable agricultural inputs, reflecting the industry's shift towards more environmentally friendly practices and solutions.
Major companies operating in the agricultural commodity market are Glencore plc, Cargill Inc., Nestle S.A., Archer Daniels Midland Company, BASF SE, Bunge Limited, Bayer AG, Louis Dreyfus Company B.V., Yara International ASA, General Mills Inc., Smithfield Foods Inc., Wilmar International Limited, Syngenta Group, Barry Callebaut Group, Ingredion Incorporated, Fresh Del Monte Produce Inc., Olam International Limited, Adecoagro S.A., BrasilAgro Companhia Brasileira de Propriedades Agrícolas, Devex S.A., Agrium Inc., Monsanto Company, Agro-K Corporation.
North America was the largest region in the agricultural commodity market in 2023. The regions covered in the agricultural commodity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the agricultural commodity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
An agricultural commodity refers to a raw product sourced from farming and agriculture, essential for consumption, trade, or further processing. These commodities are typically produced in large quantities and play a crucial role in global trade and economies.
The primary agricultural commodities include soybeans, corn, wheat, rice, cocoa, coffee, cotton, spices, and other products. Soybeans, for example, are legumes cultivated primarily for their protein-rich seeds, widely utilized in various food and industrial applications. They are integral to livestock feed and processed foods such as oils and soy milk. Soybeans are traded through various channels, both online and offline, serving diverse end-users ranging from business-to-business to business-to-consumer markets.
The agricultural commodity market research report is one of a series of new reports that provides agricultural commodity market statistics, including agricultural commodity industry global market size, regional shares, competitors with an agricultural commodity market share, detailed agricultural commodity market segments, market trends, and opportunities, and any further data you may need to thrive in the agricultural commodity industry. This agricultural commodity research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The agricultural commodity market consists of sales of livestock and animal products, fruits, vegetables, oilseeds, nuts, and fibers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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The agricultural commodity market size is expected to see strong growth in the next few years. It will grow to $277.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The forecasted growth can be attributed to increasing demand for healthier diets, rising adoption of hydroponic farming methods, growing interest in renewable energy sources, expanding global population, evolving consumer preferences, and increasing demand for biofuels. Major trends anticipated in the forecast period include advancements in technology, adoption of sustainable farming practices, biotechnological innovations, shifts in dietary preferences towards healthier options, and the widespread adoption of digital agriculture solutions.
The agricultural commodity market is set to grow driven by increasing demand for healthier diets. Healthier diets promote physical well-being and lower the risk of chronic diseases, fueled by rising health awareness, concerns over food safety, weight management goals, chronic disease prevalence, and access to nutritious food options. Agricultural commodities play a crucial role in supporting these diets by providing essential nutrients, offering diverse food choices, and enhancing overall health and wellness. For instance, according to the 2022 Food and Health Survey by the International Food Information Council (IFIC), 52% of Americans followed specific diets or eating patterns, up from 39% in 2021, with popular choices including clean eating, mindful eating, and calorie counting. This trend underscores the increasing demand for healthier diets driving growth in the agricultural commodity market.
Leading companies in the agricultural commodities market are focusing on innovation with products such as agri-sectoral indices. These indices track the performance of specific segments within the agricultural industry, providing standardized measures for commodities such as guar seed and soybeans. For example, India's National Commodity and Derivatives Exchange launched NCDEX GUAREX and NCDEX SOYDEX in July 2021, India's first agricultural sectoral indices. These indices enhance market transparency, facilitate risk management, and offer investment opportunities in critical agricultural commodities.
In December 2023, Rovensa Group, a Portugal-based agricultural technology and crop protection solutions company, acquired Agro-K Corporation to bolster its presence in the biostimulant market and expand its portfolio in the US agricultural sector. Agro-K Corporation specializes in organic and sustainable agricultural inputs, reflecting the industry's shift towards more environmentally friendly practices and solutions.
Major companies operating in the agricultural commodity market are Glencore plc, Cargill Inc., Nestle S.A., Archer Daniels Midland Company, BASF SE, Bunge Limited, Bayer AG, Louis Dreyfus Company B.V., Yara International ASA, General Mills Inc., Smithfield Foods Inc., Wilmar International Limited, Syngenta Group, Barry Callebaut Group, Ingredion Incorporated, Fresh Del Monte Produce Inc., Olam International Limited, Adecoagro S.A., BrasilAgro Companhia Brasileira de Propriedades Agrícolas, Devex S.A., Agrium Inc., Monsanto Company, Agro-K Corporation.
North America was the largest region in the agricultural commodity market in 2023. The regions covered in the agricultural commodity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the agricultural commodity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
An agricultural commodity refers to a raw product sourced from farming and agriculture, essential for consumption, trade, or further processing. These commodities are typically produced in large quantities and play a crucial role in global trade and economies.
The primary agricultural commodities include soybeans, corn, wheat, rice, cocoa, coffee, cotton, spices, and other products. Soybeans, for example, are legumes cultivated primarily for their protein-rich seeds, widely utilized in various food and industrial applications. They are integral to livestock feed and processed foods such as oils and soy milk. Soybeans are traded through various channels, both online and offline, serving diverse end-users ranging from business-to-business to business-to-consumer markets.
The agricultural commodity market research report is one of a series of new reports that provides agricultural commodity market statistics, including agricultural commodity industry global market size, regional shares, competitors with an agricultural commodity market share, detailed agricultural commodity market segments, market trends, and opportunities, and any further data you may need to thrive in the agricultural commodity industry. This agricultural commodity research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The agricultural commodity market consists of sales of livestock and animal products, fruits, vegetables, oilseeds, nuts, and fibers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Agricultural Commodity Market Characteristics3. Agricultural Commodity Market Trends and Strategies32. Global Agricultural Commodity Market Competitive Benchmarking33. Global Agricultural Commodity Market Competitive Dashboard34. Key Mergers and Acquisitions in the Agricultural Commodity Market
4. Agricultural Commodity Market - Macro Economic Scenario
5. Global Agricultural Commodity Market Size and Growth
6. Agricultural Commodity Market Segmentation
7. Agricultural Commodity Market Regional and Country Analysis
8. Asia-Pacific Agricultural Commodity Market
9. China Agricultural Commodity Market
10. India Agricultural Commodity Market
11. Japan Agricultural Commodity Market
12. Australia Agricultural Commodity Market
13. Indonesia Agricultural Commodity Market
14. South Korea Agricultural Commodity Market
15. Western Europe Agricultural Commodity Market
16. UK Agricultural Commodity Market
17. Germany Agricultural Commodity Market
18. France Agricultural Commodity Market
19. Italy Agricultural Commodity Market
20. Spain Agricultural Commodity Market
21. Eastern Europe Agricultural Commodity Market
22. Russia Agricultural Commodity Market
23. North America Agricultural Commodity Market
24. USA Agricultural Commodity Market
25. Canada Agricultural Commodity Market
26. South America Agricultural Commodity Market
27. Brazil Agricultural Commodity Market
28. Middle East Agricultural Commodity Market
29. Africa Agricultural Commodity Market
30. Agricultural Commodity Market Competitive Landscape and Company Profiles
31. Agricultural Commodity Market Other Major and Innovative Companies
35. Agricultural Commodity Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Agricultural Commodity Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on agricultural commodity market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for agricultural commodity? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The agricultural commodity market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product: Soybeans; Corn; Wheat; Rice; Cocoa; Coffee; Cotton; Spices; Other Products2) By Trading: Online; Offline
3) By End User: Business To Business; Business To Consumer
Key Companies Mentioned: Glencore plc; Cargill Inc.; Nestle S.A.; Archer Daniels Midland Company; BASF SE
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Glencore plc
- Cargill Inc.
- Nestle S.A.
- Archer Daniels Midland Company
- BASF SE
- Bunge Limited
- Bayer AG
- Louis Dreyfus Company B.V.
- Yara International ASA
- General Mills Inc.
- Smithfield Foods Inc.
- Wilmar International Limited
- Syngenta Group
- Barry Callebaut Group
- Ingredion Incorporated
- Fresh Del Monte Produce Inc.
- Olam International Limited
- Adecoagro S.A.
- BrasilAgro Companhia Brasileira de Propriedades Agrícolas
- Devex S.A.
- Agrium Inc.
- Monsanto Company
- Agro-K Corporation
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | August 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 220.48 Billion |
Forecasted Market Value ( USD | $ 277.73 Billion |
Compound Annual Growth Rate | 5.9% |
Regions Covered | Global |