Market Size of Agriculture in Algeria
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 4.86 Billion |
| Market Size (2029) | USD 6.09 Billion |
| CAGR (2024 - 2029) | 4.65 % |
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Algeria Agriculture Market Analysis
The Agriculture in Algeria Market size is estimated at USD 4.86 billion in 2024, and is expected to reach USD 6.09 billion by 2029, growing at a CAGR of 4.65% during the forecast period (2024-2029).
- Algeria is currently the largest country in Africa and in the Arab world, with a total landmass of 2.38m sq. km. Algeria is rich in natural resources but is still largely unexplored. Despite this, Algeria's overall strategy is to reduce its reliance on imports. The Algerian agriculture sector has recorded steady growth, despite numerous ups and downs. Algeria is technically able to produce 30 million tons of cereals per annum and export 21 million tons of them to neighboring countries.
- In 2021, the Ministery of Agriculture announced plans to expand Algeria's wheat-planted area to 3.5 million hectares whereas 1.8 million hectares of agricultural land were under wheat cultivation. Moreover, the areas used for barley and olives were, respectively, 978 thousand and 439 thousand hectares in the same year. Smaller land areas were devoted to other main agricultural outputs in the country, such as wheat, barley, potatoes, oats, dates, and grapes. Palm trees cover 72,000 hectares.
- The country also produces olive oil and tobacco.Women make up about 24.5 percent of the farming population. About 70 percent of the country's farms are of small size ranging between 0.1 and nearly 10 hectares. The government of Algeria is pursuing agriculture development and modernization as a means of diversifying the economy and attracting foreign and domestic investments. Government policies and programs to increase domestic production, privatization of the seed sector, and investment in agricultural infrastructure are the major drivers for the market.
- The move towards large-scale farming and win-win partnership with well-seasoned foreign investors like The Netherlands should also help achieve those targets, and potentially drive up the exports quantity of locally produced goods at a large scale, especially as Algeria is a prominent member of the African Continental Free Trade Area (AfCFTA) and can, therefore, be depicted as an effective gateway to sell goods and products in this tremendous integrated market of 1.2 billion inhabitants.
