Agriculture - Asia

Asia

Gross production value in Agriculture market is projected to amount to US$2,317.00bn in 2024. An annual growth rate of 6.46% is expected (CAGR 2024-2028), resulting in gross production value of US$2,976.00bn in 2028.
The import value in Agriculture market is projected to amount to US$416.1bn in 2024. An annual growth rate of 14.95% is expected (CAGR 2024–2028).
The export value in Agriculture market is projected to amount to US$118.6bn in 2024. An annual growth rate of 20.34% is expected (CAGR 2024–2028).

Key regions: United States, Brazil, Germany, Italy, Spain

Market

Region

Region comparison

Currency

Analyst Opinion

The Agriculture market in Asia has been experiencing significant growth in recent years due to various factors. Asia is home to some of the world's largest agricultural producers and consumers, including China, India, and Indonesia. The region also has a large and growing population, which has contributed to the increased demand for food and agricultural products.

Customer preferences: In Asia, customers have a growing preference for organic and sustainable agricultural products. This trend has been driven by increasing health awareness and concerns about the environment. As a result, many farmers in the region are adopting more sustainable and eco-friendly farming practices to meet this demand. Additionally, there is a growing demand for processed and packaged food products in the region, particularly in urban areas.

Trends in the market: The agriculture market in Asia is characterized by a number of trends that vary by country. In China, for example, there has been a shift towards larger-scale farming operations, with many small farmers leaving the industry. This trend has been driven by government policies aimed at modernizing the agriculture sector and increasing productivity. In India, on the other hand, there has been a focus on improving the quality of agricultural products and increasing exports. This has been supported by government initiatives to improve infrastructure and increase access to credit for farmers.

Local special circumstances: One of the key challenges facing the agriculture market in Asia is the lack of arable land in many countries. This has led to increased pressure on existing farmland and a need for more efficient farming practices. Additionally, many countries in the region are vulnerable to natural disasters such as floods and typhoons, which can have a significant impact on agricultural production.

Underlying macroeconomic factors: The growth of the agriculture market in Asia is being driven by a number of underlying macroeconomic factors. These include population growth, rising incomes, and urbanization. As more people move to cities and their incomes increase, there is a growing demand for food and agricultural products. Additionally, the rise of e-commerce in the region has made it easier for farmers and agricultural producers to reach customers and sell their products online. Finally, government policies aimed at supporting the agriculture sector, such as subsidies and infrastructure investments, have also played a role in driving growth.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.