Agritech Market - Global Agritech Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By Application Coverage, By Geographic Coverage and By Company)
The agritech market is set to witness remarkable growth in the coming years, with market revenue projected to soar to US$32.7 billion by 2030, up from US$15.7 billion recorded in 2023. A comprehensive analysis conducted by Fairfield Market Research indicates that the agritech market size is expected to expand at a compound annual growth rate (CAGR) of 11% over the period spanning from 2023 to 2030.
Fueling Growth Trends in the Agritech Sector
The key trend anticipated to fuel the growth of the agritech market is the surge in global investments in agriculture technology solutions. This surge is propelled by the increased demand for agricultural products resulting from population growth. Agritech platforms are offering a plethora of services to farmers, including soil analysis, weather forecasting, crop monitoring, precision farming, and farm management tools.
Implementation of Modern Technologies by Farmers
Another major market trend expected to drive agritech market growth is the implementation of modern technologies by farmers. These technologies aim to boost crop yields, reduce resource waste, and enhance agricultural practices. Innovations such as drones and GPS-guided tractors enable accurate planting and harvesting, resulting in lower input costs and environmental impact.
Dominance of Biotechnology & Biochemicals
In 2022, the biotechnology & biochemicals category dominated the agritech industry. Innovations in genetically modified crops and biochemical treatments are revolutionizing agriculture and driving market growth.
Market Share Dominance by Production & Maintenance Segment
The production & maintenance segment is anticipated to dominate the global agritech market. Irrigation systems play a critical role in optimizing water use, ensuring efficient crop hydration, and reducing water waste, especially in regions with limited water resources.
Regional Insights
North America is expected to account for the largest share of the global agritech market, attributed to ongoing contributions from tech giants and a growing trend of mergers and acquisitions. Meanwhile, the agritech market is rapidly expanding in Asia Pacific, driven by investments in agricultural technologies by countries like China and India.
Growth Determinants and Barriers
The agritech market is primarily driven by exploding global population and rising food security concerns. However, high start-up expenses and security and privacy issues with data pose significant barriers to market growth.
Key Trends and Opportunities
Transition to cutting-edge technology and supportive government initiatives, along with the rise of precision agriculture and smart farming, present significant opportunities for market expansion.
Leaders in the Global Agritech Space
Among the leaders in the global agritech space are ARSR Tech, AeroFarms, Apollo Agriculture, Crofarm Agriproducts Pvt Ltd., Conservis, Indigo AG Inc., LettUs Grow Ltd., Pivot Bio, AgBiome Inc., and Ceres Imaging.
Global Agritech Market is Segmented as Below:
By Type:
• Biotechnology & Biochemicals
• Big Data Analytics
• Sensors & Connected Devices
• Mobility
By Application:
• Irrigation
• Production & Maintenance
• Supply Chain
• Marketplace
By Geographic Coverage:
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Turkey
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o South Korea
o India
o Southeast Asia
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
• Middle East & Africa
o GCC
o South Africa
o Egypt
o Nigeria
o Rest of Middle East & Africa
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- 1. Executive Summary
- 1.1. Global Agritech Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value, 2022
- 1.5. Analyst Recommendations
- 2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter’s Five Forces Analysis
- 2.5. Covid-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.7.1. World Economic Projections
- 2.8. PESTLE Analysis
- 3. Global Agritech Market Outlook, 2018 - 2030
- 3.1. Global Agritech Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 3.1.1. Key Highlights
- 3.1.1.1. Biotechnology & Biochemicals
- 3.1.1.2. Big Data Analytics
- 3.1.1.3. Sensors & Connected Devices
- 3.1.1.4. Mobility
- 3.2. Global Agritech Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 3.2.1. Key Highlights
- 3.2.1.1. Irrigation
- 3.2.1.2. Production & Maintenance
- 3.2.1.3. Supply Chain
- 3.2.1.4. Marketplace
- 3.3. Global Agritech Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
- 3.3.1. Key Highlights
- 3.3.1.1. North America
- 3.3.1.2. Europe
- 3.3.1.3. Asia Pacific
- 3.3.1.4. Latin America
- 3.3.1.5. Middle East & Africa
- 4. North America Agritech Market Outlook, 2018 - 2030
- 4.1. North America Agritech Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 4.1.1. Key Highlights
- 4.1.1.1. Biotechnology & Biochemicals
- 4.1.1.2. Big Data Analytics
- 4.1.1.3. Sensors & Connected Devices
- 4.1.1.4. Mobility
- 4.2. North America Agritech Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 4.2.1. Key Highlights
- 4.2.1.1. Irrigation
- 4.2.1.2. Production & Maintenance
- 4.2.1.3. Supply Chain
- 4.2.1.4. Marketplace
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
- 4.3. North America Agritech Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 4.3.1. Key Highlights
- 4.3.1.1. U.S. Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 4.3.1.2. U.S. Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 4.3.1.3. Canada Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 4.3.1.4. Canada Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
- 5. Europe Agritech Market Outlook, 2018 - 2030
- 5.1. Europe Agritech Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 5.1.1. Key Highlights
- 5.1.1.1. Biotechnology & Biochemicals
- 5.1.1.2. Big Data Analytics
- 5.1.1.3. Sensors & Connected Devices
- 5.1.1.4. Mobility
- 5.2. Europe Agritech Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
- 5.2.1.1. Irrigation
- 5.2.1.2. Production & Maintenance
- 5.2.1.3. Supply Chain
- 5.2.1.4. Marketplace
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
- 5.3. Europe Agritech Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 5.3.1. Key Highlights
- 5.3.1.1. Germany Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 5.3.1.2. Germany Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 5.3.1.3. U.K. Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 5.3.1.4. U.K. Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 5.3.1.5. France Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 5.3.1.6. France Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 5.3.1.7. Italy Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 5.3.1.8. Italy Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 5.3.1.9. Turkey Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 5.3.1.10. Turkey Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 5.3.1.11. Russia Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 5.3.1.12. Russia Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 5.3.1.13. Rest of Europe Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 5.3.1.14. Rest of Europe Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
- 6. Asia Pacific Agritech Market Outlook, 2018 - 2030
- 6.1. Asia Pacific Agritech Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 6.1.1. Key Highlights
- 6.1.1.1. Biotechnology & Biochemicals
- 6.1.1.2. Big Data Analytics
- 6.1.1.3. Sensors & Connected Devices
- 6.1.1.4. Mobility
- 6.2. Asia Pacific Agritech Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 6.2.1. Key Highlights
- 6.2.1.1. Irrigation
- 6.2.1.2. Production & Maintenance
- 6.2.1.3. Supply Chain
- 6.2.1.4. Marketplace
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
- 6.3. Asia Pacific Agritech Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 6.3.1. Key Highlights
- 6.3.1.1. China Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 6.3.1.2. China Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 6.3.1.3. Japan Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 6.3.1.4. Japan Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 6.3.1.5. South Korea Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 6.3.1.6. South Korea Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 6.3.1.7. India Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 6.3.1.8. India Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 6.3.1.9. Southeast Asia Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 6.3.1.10. Southeast Asia Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 6.3.1.11. Rest of Asia Pacific Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 6.3.1.12. Rest of Asia Pacific Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 7. Latin America Agritech Market Outlook, 2018 - 2030
- 7.1. Latin America Agritech Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 7.1.1. Key Highlights
- 7.1.1.1. Biotechnology & Biochemicals
- 7.1.1.2. Big Data Analytics
- 7.1.1.3. Sensors & Connected Devices
- 7.1.1.4. Mobility
- 7.2. Latin America Agritech Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 7.2.1. Key Highlights
- 7.2.1.1. Irrigation
- 7.2.1.2. Production & Maintenance
- 7.2.1.3. Supply Chain
- 7.2.1.4. Marketplace
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
- 7.3. Latin America Agritech Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 7.3.1. Key Highlights
- 7.3.1.1. Brazil Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 7.3.1.2. Brazil Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 7.3.1.3. Mexico Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 7.3.1.4. Mexico Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 7.3.1.5. Argentina Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 7.3.1.6. Argentina Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 7.3.1.7. Rest of Latin America Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 7.3.1.8. Rest of Latin America Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 8. Middle East & Africa Agritech Market Outlook, 2018 - 2030
- 8.1. Middle East & Africa Agritech Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
- 8.1.1. Key Highlights
- 8.1.1.1. Biotechnology & Biochemicals
- 8.1.1.2. Big Data Analytics
- 8.1.1.3. Sensors & Connected Devices
- 8.1.1.4. Mobility
- 8.2. Middle East & Africa Agritech Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
- 8.2.1. Key Highlights
- 8.2.1.1. Irrigation
- 8.2.1.2. Production & Maintenance
- 8.2.1.3. Supply Chain
- 8.2.1.4. Marketplace
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
- 8.3. Middle East & Africa Agritech Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
- 8.3.1. Key Highlights
- 8.3.1.1. GCC Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 8.3.1.2. GCC Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 8.3.1.3. South Africa Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 8.3.1.4. South Africa Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 8.3.1.5. Egypt Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 8.3.1.6. Egypt Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 8.3.1.7. Nigeria Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 8.3.1.8. Nigeria Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 8.3.1.9. Rest of Middle East & Africa Agritech Market by Type, Value (US$ Mn), 2018 - 2030
- 8.3.1.10. Rest of Middle East & Africa Agritech Market Application, Value (US$ Mn), 2018 - 2030
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 9. Competitive Landscape
- 9.1. Capacity vs Application Heatmap
- 9.2. Manufacturer vs Application Heatmap
- 9.3. Company Market Share Analysis, 2022
- 9.4. Competitive Dashboard
- 9.5. Company Profiles
- 9.5.1. ARSR Tech
- 9.5.1.1. Company Overview
- 9.5.1.2. Product Portfolio
- 9.5.1.3. Financial Overview
- 9.5.1.4. Business Strategies and Development
- 9.5.2. AeroFarms
- 9.5.2.1. Company Overview
- 9.5.2.2. Product Portfolio
- 9.5.2.3. Financial Overview
- 9.5.2.4. Business Strategies and Development
- 9.5.3. Apollo Agriculture
- 9.5.3.1. Company Overview
- 9.5.3.2. Product Portfolio
- 9.5.3.3. Financial Overview
- 9.5.3.4. Business Strategies and Development
- 9.5.4. Crofarm Agriproducts Pvt Ltd.
- 9.5.4.1. Company Overview
- 9.5.4.2. Product Portfolio
- 9.5.4.3. Financial Overview
- 9.5.4.4. Business Strategies and Development
- 9.5.5. Conservis
- 9.5.5.1. Company Overview
- 9.5.5.2. Product Portfolio
- 9.5.5.3. Financial Overview
- 9.5.5.4. Business Strategies and Development
- 9.5.6. Indigo AG Inc.
- 9.5.6.1. Company Overview
- 9.5.6.2. Product Portfolio
- 9.5.6.3. Financial Overview
- 9.5.6.4. Business Strategies and Development
- 9.5.7. LettUs Grow Ltd.
- 9.5.7.1. Company Overview
- 9.5.7.2. Product Portfolio
- 9.5.7.3. Financial Overview
- 9.5.7.4. Business Strategies and Development
- 9.5.8. Pivot Bio
- 9.5.8.1. Company Overview
- 9.5.8.2. Product Portfolio
- 9.5.8.3. Business Strategies and Development
- 9.5.9. AgBiome Inc
- 9.5.9.1. Company Overview
- 9.5.9.2. Product Portfolio
- 9.5.9.3. Financial Overview
- 9.5.9.4. Business Strategies and Development
- 9.5.10. Ceres imaging
- 9.5.10.1. Company Overview
- 9.5.10.2. Product Portfolio
- 9.5.10.3. Financial Overview
- 9.5.10.4. Business Strategies and Development
- 10. Appendix
- 10.1. Research Methodology
- 10.2. Report Assumptions
- 10.3. Acronyms and Abbreviations
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