Agricultural Commodities Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Hard, Soft), By Trading Type (Online, Offline), By Product Type (Soybeans, Corn, Wheat, Rice, Cocoa, Coffee, Cotton, Spices, Oil Seed, Sugar, Meat, Dairy Products, Others), By Region and Competition, 2019-2029F

  • Industry : Agriculture
  • Pages : NA
  • Published Date : NA
Customization Enquiry

Buy Now

Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 224.50 billion

CAGR (2024-2029)

4.75%

Fastest Growing Segment

Soft

Largest Market

     North America

Market Size (2029)

USD 293.21 billion


Market Overview

Global Agricultural Commodities Market was valued at USD 224.50 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.75% through 2029. The Global Agricultural Commodities Market serves as the backbone of the world's food supply, encompassing a vast array of products essential for sustenance and industry. This market comprises a complex web of producers, traders, processors, and consumers, all interconnected through a global network of supply chains.

Key commodities include grains like wheat, corn, and rice, which form the staple diet for billions worldwide. Commodities such as soybeans, sugar, coffee, cocoa, and livestock play critical roles in diets and industries globally. The market's dynamics are influenced by various factors, including weather patterns, geopolitical events, government policies, and technological advancements.

The globalization of trade has further transformed the agricultural commodities market, facilitating the flow of goods across borders but also exposing it to risks associated with economic instability and trade disputes. Concerns about sustainability, environmental impact, and food security have increasingly shaped market dynamics, driving demand for ethically sourced, environmentally friendly products.

Key Market Drivers

Growth in Agriculture Industry

As the global population continues to expand, so does the demand for food. Dietary shifts in emerging economies towards more protein-rich diets, along with urbanization, further boost the demand for agricultural commodities like grains, livestock, and dairy products.

Despite concerns about land degradation and environmental sustainability, the agricultural industry continues to expand, particularly in developing countries. This expansion involves the conversion of forests or marginal lands into agricultural fields and the intensification of farming practices, leading to higher yields and greater production of commodities like soybeans, palm oil, and corn.

Beyond food and feed, agricultural commodities serve as inputs for various industrial applications, including biofuels, textiles, and bio-based materials. The growing interest in renewable energy sources drives demand for biofuels derived from crops like corn, sugarcane, and soybeans. The development of bio-based plastics and other sustainable materials expands the market for agricultural feedstocks, stimulating growth in the industry.

Surge in Technological Advancements

The surge in technological advancements has emerged as a significant driver reshaping the landscape of the global agricultural commodities market. This transformation is characterized by a convergence of various innovative technologies, including precision agriculture, biotechnology, big data analytics, and automation, among others.

One of the key impacts of technological advancements in agriculture is the optimization of production processes. Precision agriculture, enabled by technologies such as GPS, drones, and sensors, allows farmers to monitor and manage their crops with unprecedented precision. By precisely tailoring inputs such as water, fertilizers, and pesticides to the specific needs of each plant, farmers can enhance yields, reduce waste, and improve resource efficiency. This increased productivity contributes to the availability of agricultural commodities in the global market, influencing supply and demand dynamics.

Biotechnological innovations have led to the development of genetically modified organisms (GMOs) and advanced breeding techniques, which offer crops with enhanced traits such as drought tolerance, pest resistance, and increased nutritional value. These genetically modified crops have the potential to boost yields and mitigate the impact of environmental stressors, thereby influencing the global supply of agricultural commodities.

Download Free Sample Report

Key Market Challenges

Growing Concern for Food Security and Nutrition

The growing concern for food security and nutrition represents a significant challenge within the Global Agricultural Commodities Market. One of the primary facets of this challenge is the persistence of food insecurity, which affects individuals, households, and entire communities. Food insecurity manifests in different forms, ranging from chronic hunger and under nutrition to food shortages caused by sudden crises such as conflicts, natural disasters, or economic downturns. Vulnerable populations, including children, women, and the elderly, are particularly at risk of malnutrition and its long-term consequences on health and development.

Nutrition insecurity is another dimension of the challenge, characterized by inadequate access to diverse and nutrient-rich foods essential for healthy diets. Poor dietary quality, micronutrient deficiencies, and the consumption of unhealthy processed foods contribute to the global burden of malnutrition, including stunting, wasting, and obesity. Malnutrition not only affects physical health but also hampers cognitive development, productivity, and economic growth, perpetuating cycles of poverty and inequality.

The Global Agricultural Commodities Market plays a crucial role in addressing food security and nutrition challenges by providing essential commodities such as grains, fruits, vegetables, dairy, and protein sources. The market's dynamics, including price volatility, trade barriers, and unequal distribution channels, can exacerbate food insecurity and hinder access to nutritious foods, especially for vulnerable populations in low-income countries and regions.

Key Market Trends

Growing Adoption of Hydroponics

Hydroponic systems allow for precise control over growing conditions, including nutrient levels, pH balance, and water usage. By providing optimal conditions for plant growth, hydroponics can significantly increase crop yields compared to conventional soil-based farming. This heightened efficiency in production contributes to a greater supply of agricultural commodities in the market.

Hydroponic farming uses significantly less water compared to traditional soil-based agriculture, making it well-suited for regions facing water scarcity or drought conditions. Hydroponic systems can be implemented vertically or in controlled indoor environments, requiring less land area than traditional farms. This conservation of resources aligns with sustainability goals and reduces the environmental footprint of agricultural production.

Hydroponic farming is particularly well-suited for urban agriculture initiatives and local food systems. Vertical hydroponic systems can be implemented in urban spaces such as rooftops, vacant lots, or repurposed buildings, enabling communities to produce fresh, locally grown food in densely populated areas. The proximity of hydroponic farms to urban centers reduces transportation costs and carbon emissions associated with food distribution, further enhancing sustainability.

Segmental Insights

Type Insights

Based on the category of type, the soft emerged as the fastest growing segment in the global market for agricultural commodities in 2023. There is an increasing demand for healthier and more diverse diets worldwide. Soft commodities like fruits, vegetables, nuts, and specialty crops are often associated with health benefits, driving consumer preferences towards these products.

Advances in agricultural technology, including precision farming techniques, improved irrigation systems, and pest management practices, are enhancing the productivity and quality of soft commodities. These technological innovations are enabling producers to meet the demands of a growing market more efficiently.

Product Type Insights

The corn segment is projected to dominate the market during the forecast period. Corn is one of the most versatile crops, with a wide range of uses across various industries. It is not only a staple food in many parts of the world but also serves as a feedstock for livestock, a raw material for the production of ethanol and other biofuels, and a key ingredient in numerous industrial products such as corn syrup, starch, and bio-based plastics. This versatility ensures a consistent demand for corn in both food and non-food sectors, driving its prominence in the global market.

Corn has relatively high yield potential compared to other cereal crops, such as wheat or rice. Modern agricultural practices, including advancements in seed technology, fertilization, and crop management techniques, have further increased corn yields, making it a profitable crop for farmers. The high productivity of corn contributes to its dominance in global agricultural production and trade.

 

Download Free Sample Report

Regional Insights

North America emerged as the dominant player in the Global Agricultural Commodities Market in 2023, holding the largest market share in terms of value. North America possesses vast expanses of arable land and a diverse range of climates suitable for cultivating a wide variety of crops. This allows for high productivity and diversity in agricultural output.

North American agriculture benefits from significant investments in research and development, leading to the adoption of advanced farming techniques, machinery, and technologies. This has resulted in increased efficiency, productivity, and competitiveness in the global market.

Recent Development

  • In January 2024, Louis Dreyfus Company (LDC) and The Nature Conservancy (TNC) announced a collaboration to promote and implement regenerative agricultural practices and habitat conservation within strategic agricultural supply chains. This partnership reflects a shared goal of mitigating climate change stemming from food and agricultural production while also enhancing biodiversity and ecosystem services. By combining the strengths and resources of both organizations, LDC and TNC aim to accelerate the transition from commitment to on-the-ground implementation and measurable impact. This joint effort, involving two major players in their respective sectors, highlights the critical importance of taking action at the sector level to encourage practices that improve soil health, restore aquifers, promote biodiversity, and mitigate climate change.

Key Market Players

  • Archer Daniels Midland Company
  • AGROPECUARIA MAGGI LTDA
  • Bunge Global SA
  • Cargill, Incorporated
  • Golden Agri-Resources Ltd
  • JBS USA Food Company Holdings
  • Louis Dreyfus Company B.V.
  • Olam Group Limited
  • Wilmar International Limited
  • Marfrig Global Foods SA

By Type

 By Trading Type

By Product Type

By Region
  • Hard
  • Soft
  • Online
  • Offline
  • Soybeans
  • Corn
  • Wheat
  • Rice
  • Cocoa
  • Coffee
  • Cotton
  • Spices
  • Oil Seed
  • Sugar
  • Meat
  • Dairy Products
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Agricultural Commodities Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Agricultural Commodities Market, By Type :

o Hard

o Soft

  • Agricultural Commodities Market, By Trading Type :

o Online

o Offline

  • Agricultural Commodities Market, By Product Type :

o Soybeans

o Corn

o Wheat

o Rice

o Cocoa

o Coffee

o Cotton

o Spices

o Oil Seed

o Sugar

o Meat

o Dairy Products

o Others

  • Agricultural Commodities Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Agricultural Commodities Market.

Available Customizations:

Global Agricultural Commodities Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Agricultural Commodities Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Impact of COVID-19 on Global Agricultural Commodities Market

5.    Global Agricultural Commodities Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type (Hard, Soft)

5.2.2.     By Trading Type (Online, Offline)

5.2.3.     By Product Type (Soybeans, Corn, Wheat, Rice, Cocoa, Coffee, Cotton, Spices, Oil Seed, Sugar, Meat, Dairy Products, Others)

5.2.4.     By Region

5.2.5.     By Company (2023)

5.3.  Market Map

6.    Asia Pacific Agricultural Commodities Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type

6.2.2.     By Trading Type

6.2.3.     By Product Type

6.2.4.     By Country

6.3.  Asia Pacific: Country Analysis

6.3.1.     China Agricultural Commodities Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Type

6.3.1.2.2.             By Trading Type

6.3.1.2.3.             By Product Type

6.3.2.     India Agricultural Commodities Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Type

6.3.2.2.2.             By Trading Type

6.3.2.2.3.             By Product Type

6.3.3.     Australia Agricultural Commodities Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Type

6.3.3.2.2.             By Trading Type

6.3.3.2.3.             By Product Type

6.3.4.     Japan Agricultural Commodities Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Type

6.3.4.2.2.             By Trading Type

6.3.4.2.3.             By Product Type

6.3.5.     South Korea Agricultural Commodities Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Type

6.3.5.2.2.             By Trading Type

6.3.5.2.3.             By Product Type

7.    Europe Agricultural Commodities Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Trading Type

7.2.3.     By Product Type

7.2.4.     By Country

7.3.  Europe: Country Analysis

7.3.1.     France Agricultural Commodities Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Trading Type

7.3.1.2.3.             By Product Type

7.3.2.     Germany Agricultural Commodities Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Trading Type

7.3.2.2.3.             By Product Type

7.3.3.     Spain Agricultural Commodities Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Trading Type

7.3.3.2.3.             By Product Type

7.3.4.     Italy Agricultural Commodities Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Type

7.3.4.2.2.             By Trading Type

7.3.4.2.3.             By Product Type

7.3.5.     United Kingdom Agricultural Commodities Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Type

7.3.5.2.2.             By Trading Type

7.3.5.2.3.             By Product Type

8.    North America Agricultural Commodities Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Trading Type

8.2.3.     By Product Type

8.2.4.     By Country

8.3.  North America: Country Analysis

8.3.1.     United States Agricultural Commodities Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Type

8.3.1.2.2.             By Trading Type

8.3.1.2.3.             By Product Type

8.3.2.     Mexico Agricultural Commodities Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Type

8.3.2.2.2.             By Trading Type

8.3.2.2.3.             By Product Type

8.3.3.     Canada Agricultural Commodities Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Type

8.3.3.2.2.             By Trading Type

8.3.3.2.3.             By Product Type

9.    South America Agricultural Commodities Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type

9.2.2.     By Trading Type

9.2.3.     By Product Type

9.2.4.     By Country

9.3.  South America: Country Analysis

9.3.1.     Brazil Agricultural Commodities Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Type

9.3.1.2.2.             By Trading Type

9.3.1.2.3.             By Product Type

9.3.2.     Argentina Agricultural Commodities Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Type

9.3.2.2.2.             By Trading Type

9.3.2.2.3.             By Product Type

9.3.3.     Colombia Agricultural Commodities Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Type

9.3.3.2.2.             By Trading Type

9.3.3.2.3.             By Product Type

10.  Middle East and Africa Agricultural Commodities Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Type

10.2.2.  By Trading Type

10.2.3.  By Product Type

10.2.4.  By Country

10.3.              MEA: Country Analysis

10.3.1.  South Africa Agricultural Commodities Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Trading Type

10.3.1.2.3.           By Product Type

10.3.2.  Saudi Arabia Agricultural Commodities Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Trading Type

10.3.2.2.3.           By Product Type

10.3.3.  UAE Agricultural Commodities Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Trading Type

10.3.3.2.3.           By Product Type

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

12.1.              Recent Developments

12.2.              Product Launches

12.3.              Mergers & Acquisitions

13.  Global Agricultural Commodities Market: SWOT Analysis

14.  Porter’s Five Forces Analysis

14.1.              Competition in the Industry

14.2.              Potential of New Entrants

14.3.              Power of Suppliers

14.4.              Power of Customers

14.5.              Threat of Substitute Product

15.  PESTLE Analysis

16.  Competitive Landscape

16.1.             Archer Daniels Midland Company

16.1.1.  Business Overview

16.1.2.  Company Snapshot

16.1.3.  Products & Services

16.1.4.  Financials (As Reported)

16.1.5.  Recent Developments

16.2.              AGROPECUARIA MAGGI LTDA

16.3.              Bunge Global SA

16.4.              Cargill, Incorporated

16.5.              Golden Agri-Resources Ltd

16.6.              JBS USA Food Company Holdings

16.7.              Louis Dreyfus Company B.V.

16.8.              Olam Group Limited

16.9.              Wilmar International Limited

16.10.            Marfrig Global Foods SA

17.  Strategic Recommendations

18.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

The market size of the Global Agricultural Commodities Market was estimated to be USD 224.50 billion in 2023.

down-arrow

The soft segment demonstrated significant growth in 2023. This can be attributed to changing consumer preferences, population growth, urbanization, and export opportunities for soft commodities.

down-arrow

North America dominated the market with a revenue share in 2023. This can be attributed to a combination of favorable natural conditions, technological advancements, supportive institutions, and infrastructure of the region.

down-arrow

Growth in agriculture industry and surge in technological advancements are the major drivers for the Global Agricultural Commodities Market.

Related Reports

profile

Sakshi Bajaal

Business Consultant
Press Release

Agricultural Commodities Market to grow with a CAGR of 4.75% through 2029

Apr, 2024

Population growth and changing dietary patterns and Increasing biofuel production is expected to drive the Global Agricultural Commodities Market growth in the forecast period, 2025-2029

Why Choose Us