Global Overview of the Agriculture Industry

November 2021

The briefing examines how the agriculture industry performs globally and in the largest countries in terms of agriculture output. The report also provides data for production, market size, imports, exports, industry’s costs, industry’s profitability and number of companies. The industry and market overview provide benchmarks against other countries in the region.

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Examining Four Trends Shaping the Agriculture Industry

Digitalisation to improve productivity

Limited capacity to increase agri-food production by expanding arable land coverage and rapidly expanding global population numbers elevate the need to increase the industry’s productivity, especially in the developing countries. Digitalisation is able to achieve this goal by employing advanced machinery, Internet of Things (IoT) and other smart technologies to save on labour and other costs as well as produce larger yields.

Water management

In light of the changing climate, water scarcity in agriculture is becoming a growing concern. Agricultural lands not equipped with irrigation are increasingly vulnerable to severe weather events such as heatwaves and droughts. Smart water management is to become crucial to secure stable agricultural production output over the long-term outlook.

Feeding the growing Asian population

China is increasingly dependent an agricultural, namely, animal feed imports for its growing livestock herds. High population growth and increasing middle-income band will further drive demand for meat and in turn animal feeds. Such countries as Brazil and the US have already secured their status as the main suppliers to the Asian giant, however opening trade routes and emerging Asia are expected to continue attracting the global agro-trade.

Organic agriculture

Meanwhile, Western consumers are increasingly concerned with food sustainability and its effect on the environment, stimulating the demand for organic agricultural produce over the future outlook.

Introduction

Scope
Examining four trends shaping the agriculture industry
COVID-19: impact on agriculture
Agriculture among the least COVID-19-affected industries
Agriculture registers turnover growth even through the pandemic
Asia to continue dominating global agriculture industry
Government funding helps sustain agricultural profitability
Pandemic results in declining exports in global context
Asia Pacific to drive crop and cereal demand to feed expanding livestocks
Economic growth drives agricultural market expansion in Asian giants
US companies dominate otherwise fragmented competitive landscape
Total number of companies declines
Concentration in agriculture to increase over the long-term outlook
Asia to drive future production value growth
Most global producers to swiftly recover from COVID-19 shocks
Key future trends shaping the global industry
Digitalisation explained in more detail
China : industry remains resilient to COVID-19 shock
Agricultural revenues in China to continue growth with improvements in production quality
India : COVID-19 disruptions drag India’s agricultural revenues
Rapid population growth to drive demand for agri-food production
US : industry to continue benefiting from extensive exports
Strong global demand for agri-food exports and rising production output in the US
Indonesia : positive long-term forecasts with rising domestic demand
Indonesia’s agriculture to expand with government incentives
Iran : growth driven largely by weak currency rates
Iran’s agricultural output to remain heavily susceptible to worsening weather conditions
Brazil : exports to China to continue stimulating revenue growth
Booming soybean and corn production paints positive outlook for Brazil’s agriculture
Russia : farming industry remains strong during the pandemic
Wheat farming to continue bringing strong revenues for Russia’s agriculture industry
Japan : stagnating outlook as country struggles with aging population
Japan to employ digital technologies to sustain growth of agricultural revenues
Pakistan : strong growth over the outlook period
Pakistan’s agriculture industry increasingly vulnerable to climate and socioeconomic changes
France : industry on recovery path over the outlook period
France’s farming sector to witness continued stagnating growth over the future outlook
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