Report Overview

The global agricultural commodities market is projected to grow at a CAGR of 6.9% in the forecast period. A growing population, increasing disposable income, and a change in consumer tastes and preferences have led to rapid growth in agriculture commodities to feed the population and satisfy consumer tastes. Furthermore, the adoption of advanced technology to increase agricultural production is further expected to boost the agricultural commodities market during the forecast period.

Global Agricultural Commodities Market- Overview

Agri-products include crops and livestock that are produced and harvested for use as food and fuel. The major agricultural commodities include wheat, corn, cattle/calves, chicken eggs, hay, dairy products/milk, broilers, and miscellaneous crops. Not only are these products crucial for consumption but also economic growth.This is because more than half of the population across the globe is dependent on agricultural production as their primary source of income. Furthermore, more than 100 developing countries are dependent on agricultural commodities for their export earnings.

Global Agricultural Commodities Market Forecast and Trends

Growth Drivers

Increasing Population and Changing Consumer Taste and Preferences

According to the Food and Agricultural Organization of the United Nations, more than 60% of the world’s population depends on agriculture for survival. As the global population grows by 1.1% each year, agricultural production will have to be expanded if the entire population is to be fed.Also, consumer tastes and preferences have continuously changed over time, affecting the growth of agricultural commodities.For instance, the adoption of a vegan lifestyle and increasing demand for vegan meat has proliferated the production of certain types of food commodities, such as soy, vegetable, wheat, pea, etc.

High Dependence on Agricultural Production for Economic Growth

Based on the data by World Bank, agriculture-related GDP growth increased expenditures in the three poorest deciles by at least 2.5 times the growth rate. Agriculture is the primary source of livelihood for 75% of the global poor.Agriculture can alleviate poverty for 75 percent of those living in rural areas. Along with providing food, it also offers employment opportunities to a very large percentage. Additionally, a large portion of agricultural production is used as a raw material in manufacturing and production operations, which plays a critical role in boosting the global economy.

Restraints

Use of Outdated Agricultural Methods

The outdated agricultural methods used in farming and a lack of adoption of modern technology have a detrimental effect on agricultural commodities in the global market.For instance, India is one of the largest agricultural traders in the world. In spite of this, farmers still rely heavily on natural rain for irrigation, which directly impacts the quality of their crops.Furthermore, the seeds used for the purpose are not modern, limiting the final yield of the product.

Impact of COVID-19 on Global Agricultural Commodities Market

Due to the lockdown imposed by countries to curb the spread of COVID-19, the global agricultural commodities market has been negatively affected.Lockdown protocols acted as a hindrance to the market growth due to the restrictions on distribution channels. Furthermore, throughout this time, meat consumption dropped significantly.In addition, social distancing protocols, as well as an inadequate pool of labor, caused complete disruptions of production and manufacturing during this time.Nevertheless, the demand for cereal grains, oilseeds, and dairy was still moderate. However, a rebound in economic activity is expected to facilitate the recovery of the global agricultural commodity market in the forecast period.

Global Agricultural Commodities Market - By Type

Based on types, the global agricultural commodities market is segmented into cereal grains, oilseeds, meat, dairy, other soft commodities, miscellaneous agricultural commodities. The cereal grains segment holds the largest market share. This segment can further be classified into wheat, corn, barley, oats, and rough rice. Among these, the demand for corn or maize is the most prominent around the world as it is a staple food in many countries as well as used widely for animal feed and a wide range of industrial applications.

Global Agricultural Commodities Market - By End-User

Based on end-users, the global agricultural commodities market is segmented into B2B and B2C. The B2C segment accounts for the largest market share as a large percentage of agricultural commodities produced are used to feed the population of the country. The rest is supplied to the B2B traders for the production of processed foods. Additionally, since a large percentage of the economy depends on its export earnings, the B2B segment is also growing at a substantial rate.

Global Agricultural Commodities Market - Regional Insights

Geographically, the global agricultural commodities market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, the Asia-Pacific dominates the market. Developing countries like China, India, Indonesia, and Japan are highly agricultural. Around 7% of the world's arable land is in China, which feeds around 22% of its population. India too is considered an agricultural powerhouse as it is the world's largest producer of milk, pulses, and spices. This is why the agricultural commodities market is flourishing in the Asia-Pacific region.

Source: BlueWeave Consulting

Competitive Landscape

The leading market players in the global agricultural commodities market are Tyson Foods, JBS S.A., Cargill, Bunge Limited, ADM, Louis Dreyfus Company, Nestle, Monsanto, Olam International, Barry Callebaut, Ingredion Incorporated, Marfrig, Bayer, Conagra Brands, Syngenta, General Mills, Glencore, Unilever, Smithfield Foods, and other prominent players.

Many players in the industry strive to offer a wide variety of goods and services to suit the needs and preferences of different geographic locations and populations.Furthermore, the adoption of competitive strategies like mergers, acquisitions, partnerships, and collaborations are also very prominent in the global agricultural commodities market. Such strategies are used by market players to expand their product penetration into potential markets and establish their brands as global leaders.

Recent Developments

• In August 2021, the Government of India announced a National Edible Oil Mission-Oil Palm (NEOM-OP) to boost domestic oilseed production and has invested over USD 147.75 million to build an edible oil ecosystem in India.
• In August 2021, Kalera AS, a Norway-based vertical farming company, announced to have entered into a share purchase agreement for the acquisition of &ever GmbH, a German company in the same industry to establish itself as the global leader in the vertical farming industry.

Scope of the Report

By Type

• Cereal grains

1. Wheat
2. Corn
3. Barley
4. Oats
5. Rough Rice

• Oilseeds

1. Canola
2. Cotton
3. Palm oil
4. Soybeans

• Meat

1. Feeder Cattle
2. Live Cattle
3. Lean Hogs
4. Pork Bellies

• Dairy

1. Butter
2. Milk
3. Whey
4. cheese

• Other soft commodities

1. Cocoa
2. Coffee
3. Frozen concentrated orange juice
4. Sugar

• Miscellaneous agricultural commodities

1. Lumber
2. Rubber
3. Wool

By End-User

1. B2B
2. B2C

By Region

1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing Population and Changing Consumer Taste and Preferences
         2. High Dependence on Agricultural Production for Economic Growth
      2. Restraints
         1. Use of Outdated Agricultural Methods
      3. Opportunities
         1. High Dependence on Agriculture for Survival
         2. Growing Demand for Processed Foods
      4. Challenges
         1. Negative Impact of the COVID-19
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Global Agricultural Commodities Market Overview
   1. Market Size & Forecast by Value, 2017-2027
   2. Market Size and Forecast, By Segment
      1. By Type
         1. Cereal grains
            1. Wheat
            2. Corn
            3. Barley
            4. Oats
            5. Rough Rice
         2. Oilseeds
            1. Canola
            2. Cotton
            3. Palm oil
            4. Soybeans
         3. Meat
            1. Feeder Cattle
            2. Live Cattle
            3. Lean Hogs
            4. Pork Bellies
         4. Dairy
            1. Butter
            2. Milk
            3. Whey
            4. cheese
         5. Other soft commodities
            1. Cocoa
            2. Coffee
            3. Frozen concentrated orange juice
            4. Sugar
         6. Miscellaneous agricultural commodities
            1. Lumber
            2. Rubber
            3. Wool
      2. By End-User
         1. B2B
         2. B2C
      3. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle East & Africa
6. North America Agricultural Commodities Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2020-2027
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. U.S.
         2. Canada
7. Europe Agricultural Commodities Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2020-2027
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. Germany
         2. U.K.
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. APAC Agricultural Commodities Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2020-2027
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Agricultural Commodities Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2020-2027
   2. Market Share and Forecast
      1. By Type
      2. By End-User
      3. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Agricultural Commodities Market Overview
    1. Market Size and Forecast
       1. By Value (USD Million), 2020-2027
    2. Market Share and Forecast
    3. By Type
    4. By End-User
    5. By Country
       1. Saudi Arabia
       2. UAE
       3. South Africa
       4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking By Operating Parameters
12. Impact of COVID-19 on Global Agricultural Commodities Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Tyson Foods
    2. JBS S.A.
    3. Cargill
    4. Bunge Limited
    5. ADM
    6. Louis Dreyfus Company
    7. Nestle
    8. Monsanto
    9. Olam International
    10. Barry Callebaut
    11. Ingredion Incorporated
    12. Marfrig
    13. Bayer
    14. Conagra Brands
    15. Syngenta
    16. General Mills
    17. Glencore
    18. Unilever
    19. Smithfield Foods
    20. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Global Agricultural Commodities Market Segmentation

Figure 2: Global Agricultural Commodities Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Global Agricultural Commodities Market Size, By Value (USD Million), 2017-2027

Figure 5: Global Agricultural Commodities Market Share (%), By Type, By Value, 2017-2027

Figure 6: Global Agricultural Commodities Market Share (%), By End-User, By Value, 2017-2027

Figure 7: Global Agricultural Commodities Market Share (%), By Country, By Value, 2017-2027

Figure 8: North America Agricultural Commodities Market Size, By Value (USD Million), 2017-2027

Figure 9: North America Agricultural Commodities Market Share (%), By Type, By Value, 2017-2027

Figure 10: North America Agricultural Commodities Market Share (%), By End-User, By Value, 2017-2027

Figure 11: North America Agricultural Commodities Market Share (%), By Country, By Value, 2017-2027

Figure 12: Europe Agricultural Commodities Market Size, By Value (USD Million), 2017-2027

Figure 13: Europe Agricultural Commodities Market Share (%), By Type, By Value, 2017-2027

Figure 14: Europe Agricultural Commodities Market Share (%), By End-User, By Value, 2017-2027

Figure 15: Europe Agricultural Commodities Market Share (%), By Country, By Value, 2017-2027

Figure 16: the Asia-Pacific Agricultural Commodities Market Size, By Value (USD Million), 2017-2027

Figure 17: the Asia-Pacific Agricultural Commodities Market Share (%), By Type, By Value, 2017-2027

Figure 18: the Asia-Pacific Agricultural Commodities Market Share (%), By End-User, By Value, 2017-2027

Figure 19: Asia-Pacific Agricultural Commodities Market Share (%), By Country, By Value, 2017-2027

Figure 20: Latin America Agricultural Commodities Market Size, By Value (USD Million), 2017-2027

Figure 21: Latin America Agricultural Commodities Market Share (%), By Type, By Value, 2017-2027

Figure 22: Latin America Agricultural Commodities Market Share (%), By End-User, By Value, 2017-2027

Figure 23: Latin America Agricultural Commodities Market Share (%), By Country, By Value, 2017-2027

Figure 24: Middle East & Africa Agricultural Commodities Market Size, By Value (USD Million), 2017-2027

Figure 25: Middle East & Africa Agricultural Commodities Market Share (%), By Type, By Value, 2017-2027

Figure 26: Middle East & Africa Agricultural Commodities Market Share (%), By End-User, By Value, 2017-2027

Figure 27: Middle East & Africa Agricultural Commodities Market Share (%), By Region, By Value, 2017-2027

List of Tables

Table 1: Global Agricultural Commodities Market Size, By Type, By Value, 2017-2027

Table 2: Global Agricultural Commodities Market Size, By End-User, By Value (USD Million), 2017-2027

Table 3: Global Agricultural Commodities Market Size, By Region, By Value (USD Million), 2017-2027

Table 4: North America Agricultural Commodities Market Size, By Type, By Value (USD Million), 2017-2027

Table 5: North America Agricultural Commodities Market Size, By End-User, By Value (USD Million), 2017-2027

Table 6: North America Agricultural Commodities Market Size, By Country, By Value (USD Million), 2017-2027

Table 7: Europe Agricultural Commodities Market Size, By Type, By Value (USD Million), 2017-2027

Table 8: Europe Agricultural Commodities Market Size, By End-User, By Value (USD Million), 2017-2027

Table 9: Europe Agricultural Commodities Market Size, By Country, By Value (USD Million), 2017-2027

Table 10: the Asia-Pacific Agricultural Commodities Market Size, By Type, By Value (USD Million), 2017-2027

Table 11: the Asia-Pacific Agricultural Commodities Market Size, By End-User, By Value (USD Million), 2017-2027

Table 12: the Asia-Pacific Agricultural Commodities Market Size, By Country, By Value (USD Million), 2017-2027

Table 13: Latin America Agricultural Commodities Market Size, By Type, By Value (USD Million), 2017-2027

Table 14: Latin America Agricultural Commodities Market Size, By End-User, By Value (USD Million), 2017-2027

Table 15: Latin America Agricultural Commodities Market Size, By Country, By Value (USD Million), 2017-2027

Table 16: The Middle-East & Africa Agricultural Commodities Market Size, By Type, By Value (USD Million), 2017-2027

Table 17: The Middle-East & Africa Agricultural Commodities Market Size, By End-User, By Value (USD Million), 2017-2027

Table 18: The Middle-East & Africa Agricultural Commodities Market Size, By Country, By Value (USD Million), 2017-2027

Table 19: Tyson Foods Financial Analysis

Table 20: Tyson Foods Business Overview

Table 21: JBS S.A.  Financial Analysis

Table 22: JBS S.A. Business Overview

Table 23: Cargill Corporation Financial Analysis

Table 24: Cargill Corporation Business Overview

Table 25: Bunge LimitedFinancial Analysis

Table 26: Bunge LimitedBusiness Overview

Table 27: ADMFinancial Analysis

Table 28: ADMBusiness Overview

Table 29: Louis Dreyfus Company Financial Analysis

Table 30: Louis Dreyfus Company Business Overview

Table 31: Nestle  Financial Analysis

Table 32: Nestle  Business Overview

Table 33: Monsanto Financial Analysis

Table 34:Monsanto Business Overview

Table 35: Olam InternationalFinancial Analysis

Table 36: Olam InternationalBusiness Overview

Table 37: Barry CallebautFinancial Analysis

Table 38: Barry Callebaut Business Overview

Table 39: Ingredion IncorporatedFinancial Analysis

Table 40: Ingredion Incorporated Financial Analysis

Table 41: Marfrig Financial Analysis

Table 42: Marfrig Business Overview

Table 43:BayerFinancial Analysis

Table 44:Bayer Business Overview

Table 45:Conagra BrandsFinancial Analysis

Table 46:Conagra BrandsBusiness Overview

Table 47:SyngentaFinancial Analysis

Table 48:SyngentaBusiness Overview

Table 49:General MillsFinancial Analysis

Table 50:General MillsBusiness Overview

Table 51:GlencoreFinancial Analysis

Table 52:GlencoreBusiness Overview

Table 53:UnileverFinancial Analysis

Table 54:UnileverBusiness Overview

Table 55:Smithfield FoodsFinancial Analysis

Table 56:Smithfield FoodsBusiness Overview