Report: Global Agricultural Industry Value to Reach US$227 Billion by 2029

According to a MarketsandMarkets research report, the global agricultural industry is projected to reach US$227 billion by 2029, growing at an annual rate of 8.9% from its 2024 value of US$148.4 billion. This growth is fueled by rising global demand for agricultural products and the increasing adoption of modern agricultural practices. The Asia-Pacific region, with its large populations in countries like China and India, is emerging as a key driver of this growth, alongside established agricultural powerhouses like North America. This expansion is further supported by significant investments in agricultural infrastructure, technology, and sustainable practices, aimed at increasing productivity and addressing environmental concerns. The report highlights the critical role of AgTech solutions, such as precision agriculture, in optimizing resource use and improving yields. Despite this positive outlook, the industry faces challenges, including climate change, rising input costs, and labor shortages.