Digital Agriculture Marketplace Market Size, Future Demand 2020-2026

Posted by BIS RSRCH on December 20th, 2021

Digital agriculture marketplaces are also variously known as online agriculture marketplaces, e-commerce agriculture marketplaces, agriculture trading platforms, and digital farmer marketplaces. A digital agriculture marketplace is a website or an application that connects farmers with suppliers or buyers. By accessing the digital platform, a farmer gains access not only to an actual marketplace but also to other software tools. Farmers can connect with buyers, arrange delivery, and finalize transactions. On the other end are traders that see offers from farmers. Also, digital agriculture marketplaces provide insights on grain trading and other markets.

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The business model of digital agriculture marketplaces is tremendously profitable for farmers to overcome various challenges. For instance, farmers can easily find buyers for its products and get more aware of the latest agricultural technology, simplifying adoption.

The agriculture sector is quickly emerging in platform economics, and the rapid development of digital interfaces does not entirely depend on supply and demand. Collaborative platforms, such as finance, renting farms, exchanging services, and produces such as seeds, fruits, vegetables, and others have also appeared along with marketplaces.

As internet networks are expanding into rural areas and smart devices are penetrating the agriculture sector, more opportunities to use technology for the benefit of farmers are growing. The agricultural produce, supplies, equipment, among others, are available on various platforms.

Conventional agricultural value chains include several mediators between farmers and consumers. Typically, farmers sell their produce at the farm gates to mediators and produce passes through various intermediaries before reaching the end customer. Hence, farmers receive only a tiny proportion of the price paid by the end consumer, as every mediator in the value chain earns a margin. E-commerce in the agriculture sector offers various opportunities to streamline the agricultural value chain and lessen inefficiencies in the distribution of farm produce. E-commerce in the agriculture sector provides a different way for farmers to sell their produce to several buyers, such as restaurants, consumers, agribusinesses, and retailers. It also increases farmers’ access to new markets and improves transparency to the value chain. It empowers farmers to bypass several mediators, resulting in higher income, reduced wastage, and providing fresh produce to customers.

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The digital agriculture marketplace is becoming more prevalent due to the increasing internet connectivity and the penetration of mobile technologies enabling the interruption of informal value chains, giving farmers access to customers and buyers. E-commerce in the agriculture sector has appeared as an alternative model to informal value chains by enabling the online buying and selling of produce. Hence, it allows the farmers to bypass mediators and sell directly to various customers, including retailers, agribusinesses, hospitality, and individual consumers.

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