The agriculture industry is one of the largest influencers of the global economy, employing more than one billion people globally, with some of the top players earning $50-$115 billion USD in annual revenue.
Numerous sectors of the agriculture industry are expected to see rapid growth over the next 4-5 years due to emerging trends that are likely to shape the sector for the foreseeable future. For example, the increasing adoption of new technologies is driving the enormous potential for industries such as the global smart farming market (2.88 billion USD growth by 2025), the global agriculture AI market (458 million USD growth by 2025), and the global automated pest control system market (100 million USD growth by 2025).
However, despite the massive potential for the future growth of numerous sectors, there are plenty of challenges ahead for the agriculture and farming industries. Due to the COVID-19 pandemic, combined with climate change impacts, increased disease risks, and increased labor costs, many companies are facing extreme financial stress, with a slower than the expected recovery period.
In the following article, we will elaborate on same of the major trends and challenges expected to impact various sectors of the agriculture industry.
Before we dive into the future trends and challenges of agriculture, it is important to define the major sectors of the agriculture industry. BizVibe’s platform contains more than 50,000 agriculture companies which are segmented into 17 categories. Each of the 17 categories belongs to one of four agriculture sectors being farming, forestry, fishing, and hunting.
Each category is being transformed by its own set of trends and challenges that will greatly influence the direction of the agriculture companies in the coming years. Below we will discuss the trends and challenges of categories across the major agriculture sectors.
The implementation of sustainable practices is a trend which every sector is shifting towards, but it is especially prominent in farming industry. Oilseed and grain farmers are specifically giving more importance to integrated pest management, crop management, and nutrient management. The adoption of such farming practices by industry stakeholders which are sustainable in long term, will make agriculture more sustainable and reduce the concerns related to overuse of fertilizers and pesticides.
Changing climate patterns are threatening agriculture production as adverse weather conditions like monsoons and droughts have a huge impact on farm produce. Farmers are dependent on timely and adequate rainfall which help maximize output, but output is also negatively impacted by unexpected calamities such as floods and hailstorms. Increasing pollution levels and deforestation could significantly impact farmers as further changes to climate patterns could cause irreversible changes such as global warming.
The resiliency of the logging industry during the pandemic has seen some industry players post better than expected revenue and profits despite a weakened economy. Toilet paper, face masks, disinfecting wipes and corrugated paper for cardboard boxes for online deliveries are some of the products seeing extremely high demand since the Covid-19 outbreak, leading to higher demand for forest products originated from the logging industry.
Climate change is a key factor in the increased risk of forest fires. Many geographical regions are prone to eruptions of sudden and unexpected forest fires. Such fires lead to a significant loss of trees and affect the operations of timber tract operators. Affected trees also take a long time to recover from such fires and could have a long-lasting and negative impact on the operations of these companies
New technologies such as cloud computing, IoT, machine learning, and artificial intelligence have made their way to the aquaculture industry. The use of these technologies will continue to increase as they help fish farmers automate operational activities such as the collection of fish data, ensuring weight gain with efficient feed conversion ratio, and preventing diseases, thereby maximizing yields.
Farmed fish may face increased risk of disease due to the impact of global warming. Some diseases can seriously harm the entire batches of produce. Moreover, as diseases are spreading from animals to humans, farmers need to comply with safety regulations, and they have a threat of shutting down their farms in case of disease outbreaks. There are thousands of rickettsial, viral, bacterial, protozoan, and metazoan parasites that cause disease in farmed aquatic animals.
BizVibe’s platform contains more than 50,000 agriculture company profiles which are free to view. Each profile consists of in-depth company insights, comprising 50+ data points, including full industry trends and challenges analysis for all sectors of the agriculture industry.
BizVibe company insights help provide answers to questions such as:
✓ How will industry challenges impact specific geographic regions?
✓ Which regions will emerging trends be the most prominent?
✓ What are a company’s major product and service offerings?
✓ Who are the company’s key executives and what are their roles?
✓ How is a company positioned financially?
✓ Who are the company’s major competitors?
✓ What is the risk level of doing business with a given company?
✓ What is the latest company news?
Additionally, BizVibe enables users to connect with agriculture companies and includes a feature which allows companies to send and respond to RFI/RFPs directly on the platform. There are agriculture profiles of companies from over 200 countries on BizVibe. Accessing these profiles to discover, analyze, and connect with agriculture companies is free to use.
Key Product and Services
Tyson Foods Inc.
1121, 1122, 1123
Beef products, chicken production
Animal nutrition, meat, poultry
Cal-Maine Foods Inc.
Oregon Potato Company
Dehydrated potatoes, dehydrofrozen onions
DreamTree Forestry and Farms
Acreage Holdings Inc.
AG Leader Technology
Kaolin Mushroom Farms Inc.
Opal Foods LLC
Key Product and Services
Crop farming, seed production
DCM Shriram Ltd.
Avanti Feeds Ltd.
Animal husbandry, livestock
Grain farming, seed production
National Seeds Corp. Ltd.
Seed farming, biofertilizers, seed distribution
S.S. Crop Care Ltd.
Insecticides, agro services
SAAHAJ Milk Producer Company Ltd.
V.S.T Tillers Tractors Ltd.
Al Golden Foods Pvt. Ltd.
Key Product and Services
LC Agrícola S.A.
Corn growing, soybean growing, cotton farming
Wheaton Brasil Vidros Ltda
Garbanzo farming, rice seed production
Cargill Agricola S/A
Animal nutrition, agriculture services
Cooperativa Agropecuria de Londrina
Dairy production, milk-based beverages
Hunting and trapping
Corn farming, wheat farming, raw materials
Camil Alimentos S/A
Oilseed and grain farming
Wheat farming, rice production, cash grains