DUBLIN--(BUSINESS WIRE)--The "Agritech Market - Global Outlook & Forecast 2025-2030" report has been added to ResearchAndMarkets.com's offering.
The Agritech Market was valued at USD 24.42 billion in 2024, and is projected to reach USD 48.98 billion by 2030, rising at a CAGR of 12.30%
The global agritech market is experiencing robust growth, driven by the increasing demand for sustainable agricultural practices, technological advancements, and supportive government policies. Key technologies, including precision agriculture, AI-based analytics, IoT-enabled devices, robotics, and smart farming solutions, are transforming the sector. Major players have secured significant market shares by focusing on innovation and expanding their global presence. The key players in the global agritech market include AGCO Corporation, Bayer Crop Science, CNH Industrial, Corteva Agriscience, John Deere, Kubota Corporation, Syngenta, and Trimble Inc.
John Deere (Deere & Company) leads the market with a share of approximately 15%-18%, offering advanced solutions such as autonomous tractors and the John Deere Operations Center. Trimble Inc. follows John Deere, known for its GPS technologies and field analytics. Bayer CropScience holds 8%-10% of the market through its Climate FieldView platform, which integrates data analytics with on-field applications. AGCO Corporation contributes 7%-9% via its Fendt, Massey Ferguson, and Valtra brands, integrating IoT and telemetry into its machinery. CNH Industrial, with its New Holland and Case IH brands, accounts for a significant agritech market share, providing telematics and data-driven solutions.
Other players, such as Corteva Agriscience, Kubota Corporation, Indigo Ag, and Yara International, focus on digital agronomy, seed technology, and sustainable solutions. Emerging startups like Farmers Edge and CropX are gaining traction with niche innovations in AI, drones, and blockchain. The agritech market is poised for continued expansion, with sustainability and digital transformation at the forefront of competitive strategies.
AGRITECH MARKET TREND & DRIVERS
Rise of Vertical Farming and Controlled Environment Agriculture (CEA)
Adopting vertical farming and Controlled Environment Agriculture (CEA) is revolutionizing the global agritech market, addressing challenges like limited arable land and climate change. Vertical farming leverages hydroponics and AI-driven systems to enhance productivity, while CEA ensures precise environmental control, enabling year-round, resource-efficient cultivation. These advancements, supported by substantial investments and government initiatives, are reshaping sustainable food production worldwide.
Increased Investments in Agri-Biotechnology and Sustainable Practices
The global agritech market is witnessing unprecedented growth, driven by advancements in agri-biotechnology, precision agriculture, and sustainable farming practices. Investments surpassed USD 27 billion in 2023, marking a 19% rise from 2022, as governments and private enterprises prioritize technological solutions to address challenges like food security and climate change. Innovations such as drought-resistant crops, precision irrigation, and autonomous machinery are revolutionizing agriculture, enabling higher yields and resource efficiency.
Government Support and Initiatives
The global agritech market is experiencing rapid growth, driven by government initiatives targeting critical issues such as food security and climate change. Substantial funding programs, such as the EU's $10 billion Horizon Europe initiative and the US Farm Bill's $500 million allocation for precision agriculture, are accelerating technology adoption. These efforts have enhanced productivity and sustainability, with emerging markets in Asia and Africa leading the democratization of agritech solutions. Moreover, governments are also promoting agritech adoption through tax incentives and startup-friendly policies. For instance, in North America, the United States and Canada have introduced tax credits for agritech investments, encouraging farmers and corporations to adopt sustainable technologies.
Population Growth and Food Security
The global agritech market is experiencing significant growth, driven by rising food demand as the population approaches 9.7 billion by 2050. Advanced technologies like precision agriculture, AI, and vertical farming are transforming agricultural practices, enhancing productivity while minimizing environmental impact. Vertical farming is a key area of growth in the agritech sector, with companies like AeroFarms and Plenty leading the charge. These companies are developing state-of-the-art indoor farms that use minimal water, land, and energy to produce crops in urban settings. For example, AeroFarms' vertical farming systems use aeroponics and LED lighting to grow leafy greens and herbs without soil, using 95% less water than traditional farming methods. This not only increases food availability in urban areas but also reduces the carbon footprint associated with food production and transportation.
INDUSTRY RESTRAINTS
Limited Digital Literacy in Rural Areas
The global agritech market faces significant barriers due to limited digital literacy and infrastructure in rural areas, particularly in emerging economies. Farmers often lack the skills and resources to adopt innovative technologies, which restricts agritech adoption and stifles growth. Collaborative efforts among governments, NGOs, and agritech companies are crucial to bridging this gap and unlocking the sector's full potential.
High Initial Investment Costs
High initial investment costs pose a significant barrier to agritech adoption, particularly in regions with limited financing access. Technologies like precision farming and autonomous machinery require substantial capital, often exceeding USD 100,000, making them unaffordable for small and medium-sized farms in both emerging and developed markets.
GEOGRAPHICAL ANALYSIS
North America holds the most significant share of the global agritech market, accounting for over 35% in 2024. The region's growth is fueled by high adoption of precision farming technologies, robust investment in agricultural R&D, and government incentives for sustainable practices.
The Asia Pacific agritech market is growing rapidly due to rising food demand driven by a population of over 4.7 billion. Governments in countries like China and India are offering subsidies to boost precision farming and modern agricultural technologies. Furthermore, government initiatives like Japan's Smart Agriculture Project and Australia's "Ag2030" plan are driving innovation.
Europe represents another mature agritech market, driven by stringent environmental regulations and the adoption of sustainable agricultural practices. Government support is a key driver, with the European Commission allocating €1.3 billion under Horizon Europe for sustainable agricultural R&D in 2023. This funding fosters the development of data-driven solutions and promotes innovation in the sector. Also, the rising demand for organic produce is pushing the use of Agritech tools for better crop management and reduced resource consumption. Companies like BASF launched digital platforms in 2024 to help farmers meet environmental regulations. Furthermore, labor shortages are leading to increased use of robotics and automation in agriculture, with over 25% of farms in Northern Europe integrating robotic systems by late 2023. These systems are helping reduce operational costs by up to 40%.
The Latin American Agritech market is growing due to rising food demand, driven by a growing population and urbanization. By 2030, the region's population is projected to increase by 8%, boosting the need for sustainable agricultural solutions. Government policies in countries like Brazil are accelerating Agritech adoption, with investments in digital farming and precision agriculture. The focus on sustainability is reshaping the sector, as Latin American farmers adopt technologies to reduce resource usage and waste. This is attracting investment and fostering partnerships between startups and major agricultural companies.
The Middle East and Africa (MEA) region is witnessing a gradual adoption of Agritech, primarily in water-scarce countries like Israel, the UAE, and South Africa. For example, the UAE's "Food Security Strategy 2051" promotes sustainable farming practices and drone technology. Also, government support is crucial for the adoption of agritech solutions. The South African government's "Agriculture and Agro-processing Master Plan," launched in 2020, aims to integrate technology into farming. Furthermore, venture capital investments in agritech startups are growing. In 2023, Egypt's agritech company "Greenhouse" raised USD 1.5 million to expand its operations, focusing on vertical farming and efficient water use.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 317 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $24.42 Billion |
| Forecasted Market Value (USD) by 2030 | $48.98 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
Premium Insights
- Market Trend & Opportunities
- Rise of Vertical Farming and Controlled Environment Agriculture (Cea)
- Increased Investments in Agri-Biotechnology and Sustainable Practices
- Market Drivers
- Government Support and Initiatives
- Population Growth and Food Security
- Market Challenges
- Limited Digital Literacy in Rural Areas
- High Initial Investment Costs
- Segmental Analysis
- Vendors Landscape
- Recent Developments by Top Major Brands
Market at a Glance
- The Role of IoT, AI, and Machine Learning in Transforming Traditional Farming Practices
- IoT in Precision Agriculture
- AI for Predictive Insights
- Machine Learning for Automated Solutions
- Livestock Management and Monitoring
- Benefits and Challenges
- Recent Developments in the Agritech Market
- Strategic Partnerships and Collaborations
- Mergers and Acquisitions (M&A)
- Technological Advancements
- Shifting Consumer Preferences
- Government Regulations and Policy Support
- Value Chain Analysis
- Research and Development (R&D)
- Input Suppliers
- Technology Providers
- Farmers and Agricultural Producers
- Processing and Manufacturing
- Distribution and Logistics
- Retail and Consumer Engagement
- Support Services
- Supply Side and Demand Side Indicators
- Supply Side Indicators of the Global Agritech Market
- Demand Side Indicators of the Global Agritech Market
Market Opportunities & Trends
- Rise of Vertical Farming and Controlled Environment Agriculture (Cea)
- the Vertical Farming Revolution
- Controlled Environment Agriculture (Cea) Advancements
- Growing Consumer Demand for Fresh, Sustainable Produce
- Technological Innovations Driving Agritech
- Government Support and Investments
- Increased Investments in Agri-Biotechnology and Sustainable Practices
- Agri-Biotechnology at the Forefront of Innovation
- Precision Agriculture Boosting Sustainable Practices
- Regulatory Push and Incentives Driving Adoption
- Private Sector Innovations Transforming the Market
- Adoption of Precision Agriculture and IoT Integration in Farming
- Precision Agriculture: Enhancing Resource Efficiency and Crop Yield
- IoT Integration: Revolutionizing Farm Management
- Economic and Environmental Benefits Driving Adoption
Market Growth Enablers
- Population Growth and Food Security
- The Challenge of Food Security
- Technological Innovations Enhancing Agricultural Productivity
- Urban Agriculture and Vertical Farming
- Agritech Solutions for Sustainable Food Production
- Government Support and Initiatives
- Funding and Incentives Bolstering Agritech Adoption
- Public-Private Partnerships Driving Technological Integration
- Tax Benefits and Startup Support
- Addressing Global Challenges Through Agritech
- Impact on the Agritech Market Outlook
- Rising Adoption of Automation and Robotics
- Addressing Labor Shortages and Cost Efficiency
- Enhancing Sustainability with Precision Technology
- Investments and Policy Support
Market Restraints
- Limited Digital Literacy in Rural Areas
- the Digital Divide in Rural Areas
- Impact of Limited Digital Skills on Agritech Adoption
- Limited Digital Infrastructure and Connectivity
- Skepticism and Lack of Trust in Agritech Solutions
- Financial Burden on Agritech Companies
- Collaborative Efforts to Address the Digital Literacy Gap
- Developing Hybrid Solutions for Easier Adoption
- Overcoming Digital Literacy Barriers to Unlock Agritech Potential
- High Initial Investment Costs
- Financial Barriers in Emerging Markets
- Slow Adoption in Developed Markets
- Financing Challenges and Innovative Solutions
- Addressing High Initial Investment Costs
- Regulatory and Policy Challenges
- Inconsistent Regulatory Landscapes
- Data Privacy and Security Concerns
- Government Subsidies and Traditional Agricultural Policies
- Environmental and Safety Regulations
- Regional Disparities and Market Access
- Impact on Investment and Innovation
Key Company Profiles
- AGCO Corporation
- Bayer Crop Science
- CNH Industrial
- Corteva Agriscience
- John Deere
- Kubota Corporation
- Syngenta
- Trimble Inc.
Other Prominent Vendors
- Agreena
- AgroStar
- ARSR Tech
- CeresAI
- CropX
- DeHaat
- EcoRobotix
- FarmInsect
- Indigo Ag
- Yara International
For more information about this report visit https://www.researchandmarkets.com/r/ojz16z
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