As per BIS Research, the global digital agriculture marketplace industry was valued at $10.00 billion in 2020 and is projected to reach $22.88 billion in 2026, following a CAGR of 15.0% during the forecast period 2021-2026. The market growth is highly impacted by increasing awareness about digital platforms among consumers and suppliers and rising investment in the agri-food sector, especially in the digital platforms.
Agriculture and the food industry are rapidly penetrating the era of platform economics. Digital technology allows such platforms to target the global market even as being rooted in the national economy. The rapid development of digital interfaces is not solely a matter of matching supply and demand. Collaborative platforms have emerged alongside marketplaces. Some of the platforms are dedicated to financing, while others are dedicated to exchanging services.
Covid-19 Impact on Digital Agriculture Marketplace Industry:
Due to COVID-19, the growth in the global digital agriculture marketplace industry increased exponentially in 2020 and 2021; owing to the increase in the demand for agriculture products, the market is likely to witness a sharp growth over the forecast period.
Perishables Segment Dominates the Global Digital Agriculture Marketplace Industry:
Digital agriculture marketplace offers various products such as organic produce, seeds, and fertilizers, among others, which can be characterized by perishables, non-perishables, Agri raw materials, and others. Digital agriculture marketplace uses marketing to raise awareness and drive usage of their platform. Digital agriculture marketplace offers fresher produce, equipment, and services and improved incomes for farmers compared with the conventional value chain.
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Asia-Pacific to Register Highest Demand for the Global Digital Agriculture Marketplace Industry:
Asia-Pacific region is expected to dominate the global digital agriculture marketplace industry during the forecast period. The high agricultural growth in these regions, along with the increased emphasis on digitization in agriculture, is expected to boost the development of the digital agriculture marketplace in these regions.
Key Companies in the Digital Agriculture Marketplace Industry:
Companies such as Twiga Foods Limited, COFCO International, Cranswick PLC, Crofarm Agriproduct Pvt. Ltd., Tanihub, Eden Farm, WayCool Foods and Products Pvt Ltd., Agrofy, Kaset Thai Hitech Co., Ltd., Agri Marketplace, among others, are developing end-use products by collaborating with various companies offering innovative and advanced technologies, products, and others.
Key Questions Answered in the Report
• What is the estimated global digital agriculture marketplace market size in terms of revenue during the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
• What are the key trends, market drivers, and opportunities in the market pertaining to the global digital agriculture marketplace industry?
• What are the major restraints inhibiting the growth of the global digital agriculture marketplace market?
• What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the global digital agriculture marketplace industry on the basis of analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key global digital agriculture marketplace market players in the agriculture sector based on the analysis of their market coverage and market potential?
• How much revenue each of the following segments is expected to record during the forecast period along with the growth percentage? The segments are as follows:
o Business Channel, including business-to-business (B2B) and business-to-consumer (B2C)
o Product Type, including perishables, non-perishables, Agri raw materials, and others
o Region, including North America, the U.K., Europe, Asia-Pacific, China, and the Middle East and Africa, South America
• Which type of players and stakeholders are operating in the market ecosystem of the global digital agriculture marketplace, and what is their significance in the global market?
• Which are the leading consortiums and associations in the global digital agriculture marketplace, and what are their roles in the market?
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