The report below gives a good overview of the Spring 2024 M&A activity in the Agriculture Industry Sector. According to a Statista report, the global agriculture market is projected to reach a gross production value of USD 3.90 trillion in 2024. It is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 5.66% from 2024 to 2028, culminating in a value of USD 4.86 trillion by the end of the period. In 2024, the import value of the agriculture market is estimated at USD 949.7 billion, with an expected annual growth rate of 11.54% over the next four years. Meanwhile, the export value is set to start at USD 841.7 billion in 2024, increasing at a significant CAGR of 17.73% through 2028. This robust growth in both import and export values highlights the dynamic nature of the global agricultural market. According to Business Research Company Several factors have contributed to this growth, including population expansion, globalization, government policies, climate influences, and technological advancements. Key drivers of this anticipated growth include the adoption of sustainable agricultural practices, advancements in genetic engineering, the emphasis on organic farming, the rise of vertical farming, and the implementation of water management solutions to address global food security concerns. Consumer preferences are shifting towards healthier and more diverse diets, driving increased demand for a broader range of crops and fostering market expansion. The outbreak of COVID-19 had a substantial impact on the agriculture market in 2020, disrupting supply chains and reducing consumption. However, the industry is expected to recover from the effects of the pandemic over the forecast period.
Posted by Dan Halvorson.