bal agribusiness market through 2020
Agribusiness: Key market research findings
- Introduction of biotechnology in agribusiness stimulates market growth
- The Americas dominate the market geographically
- Key vendors – Bayer CropScience, Cargill, DowDuPont, Monsanto, and Syngenta
Technavio’s market research analysts predict the global agribusiness market to grow at a CAGR of around 3% between 2016 and 2020. The growth of this market can be accredited to the introduction of biotechnology in agribusiness. Biotechnology can be used to modify the agribusiness products with respect to the nutrition and taste. It enables the natural system of flora and fauna to work more efficiently and ensures the final product contains different types of food values like nutrition and taste. During 2015, the Americas dominated the global agribusiness market by occupying more than 45% of the overall market space. The application and development of new agricultural technologies regarding seeds, crop protection, agricultural equipment, biotechnology, and renewable energies coupled with the introduction of agri-innovation programs will propel growth in the agribusiness market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the agribusiness segments based on the product.
“Recently, there has been a noticeable rise in the introduction of trade policies in agribusiness. Governments of different countries, especially the American and APAC countries, are taking initiatives to improve the trade policies through the adoption of free trade agreements (FTAs) across geographical boundaries. FTAs reduce barriers on exports and improve trade opportunities, contributing to the growth of agribusiness across nations,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the grains segment will continue its dominance over the agribusiness market globally as the key revenue generator with a market share of more than 37%. Grains can be further classified into wheat, rice, and coarse grains. Of all the types of grains, wheat and rice are considered to be the staple food of millions of people. While wheat and rice enjoy a major share of the grain market, coarse grains are also in high demand from people who prefer gluten-free grains on wheat. Regions such as Africa and Europe are expected to substantial growth in this market owing to massive efforts to increase the grain production by bringing irrigation to arid lands.
The key vendors in the market include Bayer CropScience, Cargill, DowDuPont, Monsanto, and Syngenta. This market is highly segmented and consists of a vast number of big and mid-sized competitors. The production chains of the market are geographically large and interlinked. In this market, the vendors are constantly looking for opportunities in the market to refine their production techniques, especially regarding efficiency and innovation.
A more detailed analysis is available in the Technavio report, Global Agribusiness Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
