Global Agricultural Commodity Market Report 2024: Market Insights And Future Outlook

The Business Research Company's Agricultural Commodity Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ -- The global agricultural commodity market has demonstrated significant growth in recent years, expanding from $208.83 billion in 2023 to $220.48 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.6%. Despite historical challenges, the market is projected to reach $277.73 billion by 2028 at a compound annual growth rate (CAGR) of 5.9%, driven by increasing demand for healthier diets, technological advancements, and growing adoption of sustainable practices.

Increasing Demand for Healthier Diets Drives Market Growth
The growing demand for healthier diets is a major factor propelling the agricultural commodity market. Healthier eating patterns are driven by rising health awareness, concerns about food safety, and a desire for weight management. Agricultural commodities play a crucial role in providing essential nutrients and promoting diverse food choices. According to the 2022 Food and Health Survey by the International Food Information Council (IFIC), 52% of Americans followed a specific diet or eating pattern, up from 39% in 2021. This shift highlights the growing emphasis on nutritious food options, which is fueling market growth.

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Key Players and Market Trends
Leading companies in the agricultural commodity market include Glencore plc, Cargill Inc., Nestle S.A., and Archer Daniels Midland Company. These players are innovating with products like agri-sectoral indices, which provide standardized measures of performance for specific agricultural segments. For example, in July 2021, the National Commodity and Derivatives Exchange introduced NCDEX GUAREX and NCDEX SOYDEX, the first agricultural sectoral indices in India, offering benchmarks for guar seed and soybean prices. These indices facilitate risk management, investment diversification, and market transparency.

Trends Shaping the Market
• Technological Advancements: Innovations in agricultural technology are enhancing productivity and efficiency.
• Sustainable Farming Practices: Growing emphasis on sustainability is driving adoption of eco-friendly farming methods.
• Biotechnological Innovations: Advances in biotechnology are improving crop yields and nutritional value.
• Shifts in Dietary Preferences: Changing consumer tastes are influencing the demand for various agricultural products.
• Digital Agriculture Adoption: The integration of digital technologies is transforming agricultural practices.

Segments:
• By Product: Soybeans, Corn, Wheat, Rice, Cocoa, Coffee, Cotton, Spices, Other Products
• By Trading: Online, Offline
• By End User: Business to Business, Business to Consumer

Geographical Insights: North America and Emerging Markets
North America was the largest region in the agricultural commodity market in 2023, reflecting its significant agricultural production and trade. Asia-Pacific is expected to see substantial growth in the forecast period, driven by increasing population, rising incomes, and growing interest in renewable energy sources.

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Agricultural Commodity Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Agricultural Commodity Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on agricultural commodity market size, agricultural commodity market drivers and trends, agricultural commodity market major players, competitors' revenues, market positioning, and market growth across geographies. The agricultural commodity market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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Agriculture Market Growth Forecast 2023-2027