Market Size of Agriculture Logistics Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Agriculture Logistics Market Analysis
The Agriculture logistics market is expected to witness a CAGR of more than 5% through the forecast period.
- As the global demand for the agricultural industry is rising consistently, logistics management in the agricultural industry becomes even more vital in ensuring the agricultural production and food supply chain runs smoothly to prevent shortages across the world.
- The COVID-19 pandemic severely impacted the growth of the global agriculture logistics market with supply chain disruptions in the agriculture sector caused as a result of labor shortage, inefficient cold chain facilities, transport restrictions, fluctuations in costs, and lack of collectors. In the post-pandemic period, firms are predicted to focus on end-to-end stock visibility, complex supplier monitoring, and process automation. This will boost the global market trends.
- The decline in agriculture can be seen on developed nations as well, for instance, in US the logistics for agricultural produce which are rural roads remains inefficient due to pending receivables for infrastructure, lack of revenue for maintenance, as per US transportation research group (TRIP), 13% of major rural roads are not under operational condition, with 21% under mediocre, 66% in good condition. Low on workforce bandwidth have made the situation for the agriculture sector worse. There was limited outflow of agricultural produce from California which supplies over third of country's fruits, and vegetables as the number of COVID-19 positive cases piled up.
- Companies such as Ag Growth International (AGI) based out of Canada has suspended its global operations in Italy, India, France, and Brazil as mandated by the government. The effect on the agriculture would be aggravated by decline in the global growth as US GDP has been reduced by USD 1.5 trillion in terms of economic output. This has led to contagion effects by casting reduction in global trade as the Chinese economy suffers the hardest. The relations were on decline since the US-China trade war which also have contributed on to the decline in the agricultural trade.
