The Agriculture Market Is Expected To Grow To USD 15 Trillion By 2021
Posted by praneethtbrc on June 29th, 2018
Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibers, bio-fuel, medicinal and other products used to sustain and enhance human life. This industry also includes horticulture and aquaculture.
The agricultural market is expected to grow from USD 12 trillion in 2017 to USD 15 trillion in 2021. Going forward, the market is expected to witness a higher growth, resulting from changing consumer preferences and rising demand for better quality and high-end food products.
Agriculture can be split into crop production, animal produce and rural activities.
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Asia Pacific was the largest region in the agriculture market in 2017, accounting for over 50% market share. China was the largest country in the agriculture market in 2017, accounting for around one-fifth of the market share. This can be attributed to the large population and agricultural land mass in the country.
Some of the major players in market in 2017 were Cargill, Inc., JBS S.A., and Tyson Foods, Inc.
Cargill, Inc. was the largest competitor in the agriculture market in 2017 with a 0.93% share of the market. It was founded in 1865, at Minnesota, USA. It is a provider of food, agriculture, financial and industrial products and services to the world. It has approximately 155,000 employees in 68 countries around the globe. Cargill is the largest privately held corporation in USA, in terms of its revenue.
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