Farming: Trending Facts & Insights

Overview

The basis of the global agriculture market is its farming part, with arable farming and livestock farming geared towards satisfying the world's food, fiber, and raw materials needs. Under all conditions, the farming sector is indispensable for economic development, and it indeed requires a boost from developing innovations, climatic constraints, and evolving client demands.

Farming Market Size

In 2024, the farming market generated $6.6 trillion out of a total revenue of over $12.2 trillion. The Asia-Pacific region has the highest market share because of its large arable land and high population density in comparison to North America and Europe, which excel in the technologies and are leading in productivity.

Industry Trends

• Precision Farming: Use of geo-positioned equipment and data analytics to achieve maximum productivity and minimum waste.
• Regenerative Agriculture: By way of crop rotation, less disking, and cover cropping, it focuses on soil health.
• Alternative Proteins: Plant-based and laboratory-grown protein production is on the rise to meet the changes in eating trends.
• Farmer Cooperatives: Popular farming methods are increasingly adopting cooperative models, especially in developing regions.
• Digital Platforms: E-commerce and blockchain technologies help farmers to sell directly to consumers for advantageous pricing.

Facts & Insights

• Global Farming Output: Crop farming contributes over 55% to this amount, which totals above $12 trillion in the global agriculture industry.
• Technological Influence: Use of precision agriculture technologies like drones, AI, and IoT devices now results in productivity increases of up to 30% in the very advanced farming regions.
• Organic Farming Growth: The global market for organic technology farming stands at an annual valuation of USD 150 billion, driven by increased demand for sustainable and chemical-free products, expected for 2024.
• Climate Adaptation: Soil conservation farming can help in climate change resilience by offering new preventive mechanisms such as drought-resistant crops along with climate-smart farming methods.
• Urban Farming Boom: Integrated urban areas, particularly major cities, are experiencing a surge in urban and vertical farming due to their higher population density, which not only reduces freight charges associated with food but also promotes local health and residential welfare through fresh production.

Market Segment

• By Activity:
o  Crop Cultivation
o  Livestock Raising
o Fish Farming
• By Regions:
o  Asia-Pacific
o  North America
o  Europe
o  Latin America
The Middle East and Africa
• By Technology:
o  Conventional farming
o Precision farming
o  Organic Farming

Industry Leader

John Deere is renowned for its production of advanced agricultural machinery.
Bayer CropScience is renowned for its innovations in crop protection and seed technologies.
Cargill is a global leader in agriculture supply business systems.
CNH Industrial is a leading manufacturer of farm and construction machinery.
Monsanto (Bayer): An innovative company involved in the industry of genetically altered crops and seeds.
Types of Farming
1. Subsistence Farming: Small-scale, oriented on family consumption.
2. Commercial Farming: Largest-size, country-based operations.
3. Organic Farming: No use of synthetic chemicals; it targets natural inputs.
4. Intensive farming: maximizing the output from very restricted land with high input.
5. Extensive Farming: This refers to low-input farming that is spread out over large areas.
6. Vertical and Urban Farming: Vertical farming in an urban area for the best efficiency.