Agriculture and Forestry Services Global Market Report 2024

The agriculture and forestry services market size has grown strongly in recent years. It will grow from $331.73 billion in 2023 to $361.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth observed during the historical period in agriculture and forestry services can be attributed to various factors. These include the influence of land use and agricultural practices, compliance with environmental regulations, market demand for agricultural products, fluctuations in weather and climate patterns affecting crop yields, and government policies and subsidies that impact the agriculture and forestry sectors. These factors collectively shaped the dynamics and growth patterns of agriculture and forestry services during that timeframe.

The agriculture and forestry services market size is expected to see strong growth in the next few years. It will grow to $498.92 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth in the forecast period for agriculture and forestry services can be attributed to various key factors. These include the imperative for climate change adaptation in agricultural practices, an increasing focus on sustainable and environmentally friendly approaches, rising concerns about global food security, efforts toward biodiversity conservation, and the challenges associated with global population growth. Major trends expected in the forecast period include the emergence and growth of agritech startups, an increased adoption of remote sensing technologies for precision agriculture, a growing demand for agricultural analytics for data-driven decision-making, and the utilization of blockchain technology in supply chain management within the agriculture and forestry sectors. Additionally, there is a trend towards improved forestry management and sustainable logging practices to address environmental and conservation considerations.

The surge in environmental concerns is anticipated to drive the expansion of the agriculture and forestry services market in the future. These concerns encompass climate change, pollution, degradation of soil, water, and air, greenhouse gas emissions, and declining soil fertility. Agriculture and forestry services assist farmers in adopting sustainable practices to mitigate their impact on these environmental issues. They offer solutions for climate change mitigation, soil fertility improvement, and effective management of water, pesticides, fertilizers, and herbicides. For instance, as of 2021, organic farming is practiced in 187 countries, covering approximately 72.3 million hectares of agricultural land, as reported by the National Centre for Organic and National Farming. Additionally, Eurostat revealed that the organic crop area in the European Union grew from 14,252,939 hectares in 2019 to 14,725,051 hectares in 2020 in response to escalating environmental concerns globally. Hence, the upsurge in environmental concerns is a catalyst for the agriculture and forestry services market's growth.

The escalating demand for food is poised to propel the expansion of the agriculture and forestry services market in the foreseeable future. Food is a vital substance containing proteins, carbohydrates, fats, and essential nutrients that sustain an organism's development, vital functions, and energy production. Changes in dietary patterns, particularly in emerging economies, drive increased demand for specific crops and livestock, thereby influencing the required types of agriculture and forestry services. According to The Food and Agriculture Organization's data report, global food production needs to increase by 70% to meet the needs of a projected global population exceeding 9 billion by 2050. Forecasts estimate the food demand to reach approximately 10,094 million tons in 2030 and 14,886 million tons in 2050. Hence, the growing food demand is a driving force behind the agriculture and forestry services market during the forecast period.

Technological advancements are gaining traction within the agriculture and forestry services market. Farm management software, offering real-time data and insights through digital checklists, aids in tracking farmers' daily activities and enhancing decision-making across all operations. Leading companies in agriculture and forestry services are prioritizing product enhancements and related services to expand their market presence. For example, in March 2023, Bushel, a US-based agriculture software firm, introduced Bushel Farm, a next-generation farm management software. This software streamlines individual grain sales data, thereby enhancing the operational efficiency of farms. Bushel Farm digitizes and expedites information flow within the agriculture supply chain, reducing manual entry efforts, providing valuable grain marketing insights, and enabling farmer-buyer collaboration.

Leading corporations within the agriculture and forestry services industry are strategically focusing on the integration of artificial intelligence (AI) to elevate customer service standards and fortify their market standing. The incorporation of AI in these sectors encompasses the implementation of cutting-edge technologies aimed at optimizing decision-making processes, amplifying operational efficiency, and bolstering sustainability across the entire spectrum of cultivation and forestry management. Notably, in December 2021, Zyter Inc., a US-based digital health and IoT-enablement platform, introduced Zyter Smart Agriculture. This innovative solution furnishes farmers and agronomists with a comprehensive virtual portrayal of the farm ecosystem, leveraging data obtained from IoT sensors and AI technologies. Zyter Smart Agriculture is designed to streamline and enhance fundamental crop management practices, fostering the advancement of more sustainable precision agriculture.

In June 2022, BASF, a prominent Germany-based chemical producer, completed the acquisition of Horta S.r.l. for an undisclosed sum. This acquisition aligns with BASF's commitment to investing in digital services that endorse sustainable agricultural practices, aligning closely with the objectives outlined in the European Green Deal. Horta S.r.l., headquartered in Italy, specializes in digital farming solutions and offers innovative agronomic decision support systems (DSS) tailored for a variety of crops, including grapes, tomatoes, cereals, and olives.

Major companies operating in the agriculture and forestry services market report are Cargill Incorporated, Dairy Farmers of America Inc., Bayer AG, West Fraser Timber Co. Ltd., Hancock Victorian Plantations Holdings Pty Limited, Forestry Corporation of NSW, Rayonier Inc., China Forestry Group Corporation, Tilhill Forestry Ltd., Arbor Forest Management Ltd., SWS Forestry Services Ltd., Premier Woodlands Ltd., Purser Tarleton Russell Ltd., Stora Enso Oyj, Ecoplan Forestry Ltd., Archer Daniels Midland Company, Syngenta AG, BASF SE, Monsanto Company, Deere & Company, The Mosaic Company, CHS Inc., Tyson Foods Inc., Dow AgroSciences LLC, DuPont de Nemours Inc., Agrium Inc., Potash Corporation of Saskatchewan Inc., The Andersons Inc., Agco Corporation, The Scotts Miracle-Gro Company, The Toro Company, CNH Industrial N.V., Kubota Corporation, Olam International Ltd., International Paper Co., Sumitomo Forestry Co. Ltd., UPM-Kymmene Corp., UFP Industries Inc..

North America was the largest region in the agriculture and forestry services market in 2023. The regions covered in the agriculture and forestry services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the agriculture and forestry services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of agriculture and forestry services include timber production, wood technology, forestry economics and marketing, and others. Timber production involves the entire process of growing, harvesting, processing, and distributing wood from trees. Techniques such as sawmilling, planning, and drying are employed in this process. Agriculture and forestry services can be classified based on nature, such as organic and conventional, and these services find applications in the construction and industrial goods sectors.

The agriculture and forestry services market research report is one of a series of new reports that provides agriculture and forestry services market statistics, including agriculture and forestry services industry global market size, regional shares, competitors with a agriculture and forestry services market share, detailed agriculture and forestry services market segments, market trends and opportunities, and any further data you may need to thrive in the agriculture and forestry services industry. This agriculture and forestry services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.