Key regions: United States, Brazil, Germany, Italy, Spain
Australia, the land of the kangaroos, is also known for its thriving agriculture industry.
Customer preferences: Customers in Australia have shown a growing interest in organic and sustainable farming practices. This has led to an increase in demand for organic produce, which has seen a significant rise in recent years. Additionally, consumers are becoming more health-conscious and are increasingly opting for fresh and locally sourced produce.
Trends in the market: One of the major trends in the agriculture market in Australia is the adoption of technology in farming practices. Farmers are utilizing precision agriculture techniques to maximize crop yields and minimize waste. This has led to an increase in the use of drones, sensors, and other IoT devices in farming. Another trend is the growth of vertical farming, which allows farmers to grow crops in controlled environments and with minimal water usage.
Local special circumstances: Australia is known for its harsh climate and drought-prone regions. This has led to the development of innovative water conservation techniques, such as drip irrigation and rainwater harvesting. Additionally, the country has a diverse range of agricultural products, with wheat, beef, and dairy being the primary exports. The country also has a strong wine industry, with Australian wines being exported to countries around the world.
Underlying macroeconomic factors: Australia's agriculture industry is heavily influenced by global market trends and trade policies. The country has signed several free trade agreements with countries such as Japan, China, and South Korea, which has led to an increase in exports of agricultural products. However, the industry is also vulnerable to fluctuations in commodity prices and changes in trade policies. The Australian government has implemented several measures to support the agriculture industry, including subsidies for drought-affected farmers and investment in research and development. In conclusion, the agriculture market in Australia is evolving to meet the changing demands of consumers and to adapt to the country's unique climate and environmental conditions. The adoption of technology and sustainable farming practices is driving growth in the industry, while global market trends and trade policies continue to play a significant role in shaping the industry's future.
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.
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