Crop Production Market Characteristics
The crop production market consists of the sale of crops by entities (organizations, sole traders and partnerships) that produce crops including farms, market gardens, and nurseries, primarily engaged in growing crops, plants, vines, or trees and their seeds. This market includes crop sales from mixed farms (e.g. cash crops and livestock together in the same farms). This market excludes processed crop grain products such as flour and other products. This market also excludes the proceeds from the captive (internal) consumption of the crop produce for further processing.
Competitive Landscape of the Crop Production Market
Major players in the global crop production market include Dole Food Company, Inc., Fresh Del Monte Produce Inc., and Del Monte Pacific Limited.
Crop Production Market Size
The crop production market size is expected to reach $8 trillion by 2022, significantly growing at a CAGR of around 7% during the forecast period. The growth in the crop production market is due to increased global population, rising income levels, and favourable consumer changes in tastes and preferences.
However, the market for crop production is expected to face certain restraints from several factors such as interest rate increases, workforce issues.
Crop Production Market Segmentation
The global crop production market is further segmented based on type and geography.
By Type - The crop production market is segmented into vegetable farming, grain farming, greenhouse, nursery, and flowers, fruit and nut farming, general crop farming, oilseed farming among these segments, the vegetable farming market accounts for the largest share in the global crop production market.
By Geography - The global crop production is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific crop production market accounts the largest share in the global crop production market.
Trends in the Crop Production Market
Remote surveillance in agriculture, agribots to increase productivity and big data in farming are improving construction safety are the major trends witnessed in the global crop production market.
Potential Opportunities in the Crop Production Market
With increase in positive economic outlook, continued consumer preference towards healthier, high-end, and more organic food, the scope and potential for the global crop production market is expected to significantly rise in the forecast period.