The rising demand for sustainable & organic products and
advancements in agricultural technology are projected to drive the
global agricultural commodity market's growth during the forecast
period. The Asia-Pacific region is
predicted to witness prominent growth by 2032.
WILMINGTON, Del., May 20, 2024 /PRNewswire/ -- Allied Market
Research has recently published a report, titled,
"Agricultural Commodity Market Size, Share,
Competitive Landscape and Trend Analysis Report by Product, by
Nature, by Distributional Channel: Global Opportunity Analysis and
Industry Forecast, 2023-2032." According to the report,
the global agricultural commodity market generated $1.6 trillion in 2022, and is anticipated to
generate $2.2 trillion by 2032,
rising at a CAGR of 3.2% from 2023 to 2032.
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Prime Determinants of Growth
The growing awareness of environmental degradation &
sustainability, a shift towards sustainable farming & organic
production methods, and the supportive government policies
promoting sustainable agricultural practices are the factors
expected to drive the growth of the global agricultural commodity
market in the forecast period from 2023 to 2032. However,
environmental degradation and climate change may restrict market
growth in the coming future. Contrarily, the adoption of
sustainable farming methods like organic farming & regenerative
agriculture and the rising demand for sustainable and organic
products are expected to offer remunerative opportunities for
expanding the agricultural commodity market during the forecast
period.
Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$1.6
trillion
|
Market Size in
2032
|
$2.2
trillion
|
CAGR
|
3.2 %
|
No. of Pages in
Report
|
315
|
Segments
covered
|
Product, Nature,
Distribution Channel, and Region
|
Drivers
|
- Increasing awareness of environmental
degradation & sustainability
- A shift towards sustainable farming
practices & organic production methods.
- Supportive government policies
|
Opportunities
|
- Rising demand for sustainable and
organic products
- Technological advancements like
precision farming
|
Restraints
|
Climate change and
environmental risks
|
Product: Cereals Sub-segment to be the Most Dominant During the
Forecast Period
The cereals sub-segment accounted for the largest global
agricultural commodity market share of 38.4% in 2022 and is
expected to rise at the highest CAGR of 3.5% during the forecast
period. Rapid population growth, dietary shifts, and global trade
dynamics are the primary drivers behind the dominance of this
sub-segment. Besides, global trade agreements and climate
variability impact production and distribution, influencing market
prices and presenting challenges and opportunities for
producers.
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Nature: Conventional Sub-segment to Hold Major Share by
2032
The conventional sub-segment accounted for the largest global
agricultural commodity market share of 54.6% in 2022 and is
expected to hold major share during the forecast period. This is
mainly because conventional farming practices utilize synthetic
fertilizers, pesticides, and herbicides to enhance soil fertility,
control pests and weeds, and ensure consistent water supply through
irrigation systems. Mechanization further boosts efficiency,
enabling farmers to prioritize high-yield crop varieties to meet
consumer demands and remain competitive in the industry.
Distribution Channel: Hypermarkets/Supermarkets Sub-segment
to Flourish Immensely by 2032
The hypermarkets/supermarkets sub-segment held the largest
market share of 36.0% in 2022 and is predicted to continue to hold
major share by 2032. The rising consumer demand for convenience and
variety fuels the need for a diverse range of fresh produce,
stimulating demand for agricultural commodities. Efficient supply
chain management ensures timely delivery of perishable goods, while
competitive pricing and promotions influence purchasing decisions.
Moreover, stringent quality standards drive suppliers to maintain
high-quality products, fostering consumer trust and loyalty.
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Region: Asia-Pacific Market to be the Most Prominent During
the Forecast Period
The Asia-Pacific agricultural
commodity market accounted for the largest share of
51.2% in 2022 and is predicted to continue its dominance and grow
at the highest CAGR of 3.5% during the forecast period. Population
growth, urbanization, and evolving dietary preferences towards
higher-value products stimulate market growth. Government policies,
trade agreements, and technological advancements play pivotal roles
in production, distribution, and pricing. Moreover, increasing
demand for sustainable and organic products reflects evolving
consumer preferences, offering premium pricing opportunities.
Leading Players in the Agricultural Commodity Market:
- Archer Daniels Midland
- Louis Dreyfus
- Ag Processing Inc.
- Marubeni Corporation
- Cofco
- Olam International
- Cargill Incorporated
- Bunge Limited
- Glencore Agriculture
- Wilmar International Limited
The report provides a detailed analysis of the key players of
the global agricultural commodity market. These players are
employing various strategies including launching new products,
entering collaborations, expanding operations, forming joint
ventures, and signing agreements, all aimed at boosting their
market share and securing their competitive position across
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
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