Digital Agriculture Marketplace Market Size & Share, by Business Channel (B2B, B2C); Product (Raw Agricultural Products, Perishables, Non-Perishables) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2030

Global Digital Agriculture Marketplace Market Highlights over 2022 – 2030

The global digital agriculture marketplace market is estimated to grow at a CAGR of ~16% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the penetration of smart devices in agriculture market, and rising market digitalization. Digital agriculture marketplace provides a digital platform for the transaction of agriculture products, directly from farmers to traders or consumers. Similar to other online marketplaces, agriculture marketplace offers transparency, traceability, and sustainability, which is estimated to drive the market growth. Moreover, due to COVID-19 pandemic, farmers across the globe are experiencing financial losses. In fact, various studies displayed that more than 65% of the farmers had to sell their produce at a lower price, despite the hike in food prices. Further, digital marketplace provide farmers with a platform to sell their produce globally, and also offers a fair competition in the market. Such factors are further estimated to boost the market growth. Along with this, the scope for global expansion, and increasing investment in digital agriculture, backed by rising demand for food, are some other major factors, anticipated to promote the market growth. Additionally, government initiatives to combat global hunger, are also estimated to encourage the market growth. According to the Food and Agriculture Organization (FAO), by 2050, food production will need to increase by 60% to feed a world population of about 9.3 billion.

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The market is segmented by business channel into business-to-business (B2B), business-to-consumer (B2C), and others. Out of these, the business-to-business segment is anticipated to hold the notable share in the global digital agriculture marketplace market over the forecast period on account of increasing presence of farmers and agriculture product traders at the digital marketplace, along with the advantages, such as, direct transactions, reasonable prices, and transparency, provided by digital agriculture market place. 

Major Macro-Economic Indicators Impacting the Market Growth

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Digital Agriculture Marketplace Market Regional Synopsis

On the basis of geographical analysis, the global digital agriculture marketplace market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of increasing penetration of digitalization in the agriculture industry, along with growing government focus on improving agriculture. Moreover, a large section of the population in countries, such as, China, and India, is employed in agriculture sector. According to the data by the India Brand Equity Foundation (IBEF), about 58% of India’s population is dependent on agriculture for livelihood.  Such factors are estimated to boost the market growth. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing adoption of advanced technology in the agriculture industry, backed by rising investment in the industry, along with the growing need for smart agriculture solutions.

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The global digital agriculture marketplace market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global digital agriculture marketplace market includes the following segments:

By Business Channel

• Business-to-Business (B2B)
• Business-to-Consumer (B2C)

• Others

By Product

• Raw Agricultural Products
• Perishables
• Non-Perishables
• Others

Growth Drivers

• Increasing Investments in Agribusiness Marketplace
• Increasing Government Initiatives to Combat Global Hunger

Challenges

• Lack of Digital Agricultural Knowledge amongst Farmers
• Disruption in the Agriculture Supply Chain

Top Featured Companies Dominating the Market

• Agri Marketplace
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis 
• Agrellus, Inc.
• AGCO Corporation
• Cranswick plc
• Crofarm Agriproducts Pvt. Ltd
• Trimble, Inc.
• Hummingbird Technologies
• Gamaya SA
• Conservis LLC
• Raven Industries, Inc