In 2024, the average value of U.S. farm real estate was 4,170 U.S. dollars per acre. Compared to one decade earlier, the value has increased by almost 40 percent. Generally, the value of U.S. farm real estate has had an upward trend since 1970. U.S. farms The number of farms in the United States has conversely been decreasing each year, reaching about two million farms as of 2022. That year, Texas had the most farms out of any other U.S. state by far, with about 246,000 farms. Missouri and Iowa had the second and third most farms, though neither state exceeded 100,000 farms. Agricultural trade Agricultural products encompass any products from agricultural origin that are meant for human consumption or animal feed. Agricultural products can include livestock products or crops. In 2022, the U.S. exported about 196.4 billion U.S. dollars’ worth of agricultural goods worldwide, increasing from the previous several years. Mexico is a key destination for U.S. agricultural products and imported just over 28 billion dollars’ worth in 2022, more than Europe and Eurasia combined.

This statistic shows the total amount of lamb and mutton produced in the United States from 2000 to 2024. In 2001, around 228 million pounds of lamb and mutton were produced. Lamb and mutton production has generally decreased since then and is forecast to be around 129 million pounds in 2024.

The total beef production in the United States is estimated to be 26.96 billion pounds in 2023, down from 28.29 billion pounds in the previous year. Over the last two decades, the total U.S. beef production has fluctuated slightly but remained stable overall.

Beef retail in the United States Beef has the highest retail sales of any fresh meat in the United States, as of 2021. In that year, over 30 billion U.S. dollars worth of fresh beef were sold in the United States. The retail price for 100 percent ground beef in the United States was 4.8 U.S. dollars per pound in 2022, up from 3.95 U.S. dollars in 2020. Beef brisket, on the other hand, was priced on average around 8.84 U.S. dollars per pound in major grocery retailers.

U.S. beef consumption The United States consumes more beef than any other country in the world. Consumption of beef amounted to around 59 pounds per capita on an annual basis. This was projected to decrease slowly until 2032.

In the United States there were about 5.03 million head of sheep and lambs as of 2024. This figure has been dropping steadily over the last several years. To put this in perspective; in 2001, there were nearly seven million sheep and lambs in the United States. Sheep and lambs in the United States Sheep are wonderful livestock in that they serve multiple purposes; they produce wool and milk, they are an easy and natural way to clear away shrubbery and keep grass short as a fire safety measure, and they can be slaughtered for their meat. The value of sheep varies considerably from year to year, but in 2019 an average head of sheep in the United States was valued at 203 U.S. dollars, down from 214 U.S. dollars in 2015. U.S. wool production Wool has many benefits over other varieties of textile material. In addition to being all-natural and biodegradable, it has thermal insulation properties and gives off very little static electricity. In 2019, the United States produced some 45.36 million U.S. dollars worth of shorn wool. The number of sheep and lambs shorn in the United States has seen a sharp decline in the last two decades.

This statistic presents the value added of the agriculture sector in the United States from 2000 to 2023 and provides a forecast for 2024 (in billion U.S. dollars). In 2023, the net value added of the United States agricultural sector amounted to approximately 231 billion U.S. dollars based on current U.S. dollar values.

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Crop Production Software Market Size 2024-2028

The crop production software market size is forecast to increase by USD 2.22 billion at a CAGR of 17.59% between 2023 and 2028.

The agricultural market is experiencing substantial growth due to several notable trends and challenges. One notable trend is the increasing use of precision farming, which employs advanced technologies to optimize crop yields and reduce waste. Another significant development is the integration of artificial intelligence (AI) and machine learning (ML) into crop production software. This innovation enables predictive analytics and the automation of farming processes, leading to improved efficiency and productivity. However, the substantial upfront capital investments required by farmers pose a significant barrier to market expansion. Despite this obstacle, the potential benefits of these technologies are compelling, making the agricultural sector an intriguing and dynamic area to monitor.

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The agribusiness sector is witnessing significant advancements in crop production, driven by the global population's increasing demand for food and the challenges of urbanization, climate change, and the depletion of arable land. Sustainable agriculture solutions, such as precision farming, real-time data collection and analysis, predictive modeling, monitoring, and control, are becoming essential for optimizing food production.



Companies are pioneering the use of Satellite IoT (SatIoT) and sensors, actuators, and devices to create greenhouses and monitor microclimates. Government investments in satellite imaging, in-field sensors, artificial intelligence, and machine learning are also playing a crucial role in developing regions. The integration of drones and Internet of Things (IoT) devices into crop production software is revolutionizing planting schedules and enhancing overall productivity in the agricultural sector.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Deployment

  On-premises
  Cloud


Type

  Small
  Medium
  Large


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period.

Agribusinesses, farmers, ranchers, and growers worldwide are increasingly adopting crop production software to optimize food production in the face of global population growth, urbanization, climate change, and the need for sustainable agriculture. On-premises deployment of these solutions requires farmers to invest in hardware (servers, network equipment, security devices) and software, making it a significant upfront cost. However, the benefits include enhanced data security, real-time data collection and analysis, predictive modeling, monitoring, and control. Smart greenhouses utilize sensors, actuators, and devices to optimize microclimates, while Satellite IoT (SatIoT) and drones provide valuable data for precision farming.

Furthermore, in-field sensors, satellite imaging, and artificial intelligence enable advanced analytics and automation capabilities. Government investments in agriculture technology and cloud services facilitate the integration of mobile applications and data analysis tools. Despite the advantages, the high deployment costs may limit the adoption of on-premises crop production software, particularly in developing regions. However, the potential for increased efficiency, productivity, and profitability makes it an attractive option for agribusinesses and farmers alike.

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The on-premises segment was valued at USD 465.49 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 43% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market is experiencing significant growth due to the integration of advanced technologies in agriculture. High-speed imagery services are becoming increasingly crucial for farmers to monitor crop quality and resource use, leading to improved precision in agriculture. This, in turn, helps in reducing input costs and enhancing food security. Sustainability is a key focus area, with weather conditions, t

How many cows are in the U.S.? The United States is home to approximately 87.1 million cattle and calves as of 2024, dropping slightly from the 2023 value. Cattle farming in the United States There are over three times more beef cows than milk cows living in the United States. Raising cattle is notoriously expensive, not only in terms of land, feed, and equipment, but also in terms of the environmental impact of consuming beef. Beef and milk have the highest carbon footprints of any type of food in the United States. U.S. milk market The volume of milk produced in the United States has been steadily increasing over the last several years. In 2023, total milk production in the U.S. was about 228.3 billion pounds, up from 192.9 billion pounds in 2010. California is the leading producer of milk of any U.S. state, generating approximately 42 billion pounds of milk in 2022. Wisconsin came in second, producing about 31.9 billion pounds of milk in that year.

Forecast: Total Value of Agricultural Production at Farm Gate in the US 2024 - 2028 Discover more data with ReportLinker!

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Agriculture Analytics Market Size 2024-2028

The agriculture analytics market size is forecast to increase by USD 1.23 billion at a CAGR of 12.97% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for food production to meet the needs of a growing global population. Infrastructure development, including the integration of artificial intelligence (AI) and smart farming technologies, is a key driver in this market. Smart farming practices, such as field planning and irrigation management, are becoming increasingly important for sustainable agricultural production. However, the high cost of implementing analytics in agriculture remains a challenge for many farmers and agribusinesses, particularly in developing countries. Despite this, the long-term benefits of using data analytics insights to optimize farming practices are expected to outweigh the initial investment costs. By utilizing AI and other advanced technologies, farmers can optimize their operations, improve crop yields, and reduce water usage, ultimately leading to more sustainable and profitable farming practices. The market is expected to continue growing as more farmers adopt these technologies to meet the demands of a changing agricultural landscape.

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The market is witnessing significant growth as farmers and agricultural businesses seek to enhance their productivity and efficiency. This market is driven by the increasing demand for food production to meet the growing population and the need to address various challenges in the agricultural sector. Cloud computing and internet of things (IoT) technologies are playing a crucial role in the market. Farmers can now collect vast amounts of data from various sources, including weather data analytics, crop growth monitoring, land preparation, and farm operations. This data is then analyzed using predictive models to optimize farm output and improve efficiency.

Moreover, positioning systems and navigation satellite systems, such as those used in drones, are also contributing to the market. These technologies enable farmers to monitor their crops and livestock with precision, ensuring optimal growth conditions and preventing potential losses. Crop management is a significant application area for agriculture analytics. By analyzing data on soil degradation, climatic conditions, and crop growth patterns, farmers can make informed decisions on land preparation, irrigation, and fertilizer application. This results in improved crop yields and reduced waste. Livestock farming is another area where agriculture analytics is making a significant impact. Livestock analytics provides farmers with insights into animal health and productivity, enabling them to optimize feeding and breeding programs.

Also, this leads to increased profitability and improved animal welfare. Aquaculture analytics is another emerging application area in the market. By monitoring water quality, fish behavior, and environmental conditions, farmers can optimize fish farming operations and reduce the risk of disease outbreaks. The market offers both cloud deployment and on-premises deployment options. Cloud deployment provides farmers with the flexibility to access data and insights from anywhere, while on-premises deployment offers greater control over data security. Data Security is a critical concern in the market. Farmers must ensure that their data is protected from unauthorized access and cyber threats.

Additionally, advanced security measures, such as encryption and access controls, are essential to safeguard sensitive agricultural data. In conclusion, the market is transforming the agricultural sector by providing farmers and agricultural businesses with data-driven insights to optimize their operations, increase productivity, and improve efficiency. The market is driven by the growing demand for food production and the need to address various challenges in the agricultural sector, including climatic conditions, soil degradation, and positioning systems. By leveraging cloud computing, IoT, and advanced analytics techniques, farmers can make informed decisions and improve their bottom line.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Solutions
  Services


Application

  Precision farming
  Livestock monitoring
  Aquaculture farming
  Vertical farming
  Others


Geography

  North America

    Canada
    US


  Europe

    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Type Insights

The solutions segment is estimated to witness significant growth during the fore

Graph and download economic data for Employment for Agriculture, Forestry, Fishing and Hunting: Crop Production (NAICS 111) in the United States (IPUAN111W200000000) from 1987 to 2024 about crop, hunting, forestry, fishing, agriculture, NAICS, IP, production, employment, and USA.

Graph and download economic data for Gross Domestic Product: Farms (111-112) in the United States (USFARMNGSP) from 1997 to 2024 about hunting, forestry, fishing, agriculture, GSP, private industries, private, industry, GDP, and USA.

Forecast: Rice Production at Farm Gate in the US 2024 - 2028 Discover more data with ReportLinker!

The US agricultural industry has been shaped by fluctuations in crop prices, production levels and yields. While prices for core US crops such as corn and wheat remain above historical averages, they have moderated from the peaks seen in 2021-2022. This moderation has clashed with high production costs, particularly for inputs like seeds and fertilizers, which have not decreased in line with prices and revenues. Purchase costs also stand to worsen as tariffs imposed by the US have the potential to drive up prices for imported agricultural inputs. As a result, farmers are encountering tighter profit, even as industry revenue has grown overall. Despite the pressures from input costs, technological advancements such as precision agriculture are helping to offset some challenges by improving efficiency and production. Overall, revenue has grown at a CAGR of 2.7% to reach an estimated $586.5 billion after a decrease of 2.6% in 2025. In tandem with these price and production shifts, consumer preferences are exerting significant influence over the agricultural landscape. The demand for sustainable and ethically produced livestock products is rising, prompting producers to adapt their practices to meet changing consumer expectations. This shift comes amid severe drought conditions forcing cattle herd liquidations, a move that has boosted revenues through higher prices and sales volumes but ultimately stresses long-term supplies. Meanwhile, climate change continues to introduce strong production fluctuations, as evidenced by altering pest and disease patterns and extreme weather events disrupting traditional farming cycles. Adaptation strategies, such as planting drought-resistant crops and investing in climate-smart technologies, are becoming increasingly common as farmers strive to maintain resilience. In the coming five years, the sector will struggle to maintain revenue as prices decline in key segments and climate change adds a great deal of volatility. Sector revenue is forecast to decline at a CAGR of 0.5% to reach $573.3 billion in 2030. Crop prices are projected to decline over the next decade, while yields are expected to trend upward due to ongoing technological advancements. Despite drops in overall export revenue and competition from producers such as China and Brazil, emerging markets, particularly in Asia and Africa, will present new avenues for growth as demand for diverse agricultural products increases. Additionally, the potential for income generation through participation in carbon markets and adoption of nature-positive farming practices offers promising revenue diversification. The increasing frequency of extreme seasons and weather events, however, will make production planning challenging and exaggerate farmers' dependence on agricultural services, agrochemicals, irrigation and other expenses, putting pressure on profit as farmers try to maintain yields.

Graph and download economic data for Farm output: Cash receipts from farm marketings: Crops (B1005C1A027NBEA) from 1929 to 2024 about crop, cash, receipts, output, agriculture, GDP, and USA.

United States Long Term Projections: Production, Farm Weight: Vegetables: Fresh Market data was reported at 37,269.978 lb mn in 2034. This records an increase from the previous number of 37,257.295 lb mn for 2033. United States Long Term Projections: Production, Farm Weight: Vegetables: Fresh Market data is updated yearly, averaging 37,217.536 lb mn from Dec 2022 (Median) to 2034, with 13 observations. The data reached an all-time high of 37,414.960 lb mn in 2022 and a record low of 36,512.440 lb mn in 2024. United States Long Term Projections: Production, Farm Weight: Vegetables: Fresh Market data remains active status in CEIC and is reported by U.S. Department of Agriculture. The data is categorized under Global Database’s United States – Table US.RI008: Agricultural Projections: Fruits and Nuts, and Vegetables.

According to Cognitive Market Research, the global Agribusiness market size is USD 33514845.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 13405938.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.2% from 2024 to 2031.


Europe accounted for a share of over 30% of the global market size of USD 10054453.56 million.


Asia Pacific held the market of around 23% of the global revenue with a market size of USD 7708414.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.


Latin America market of more than 5% of the global revenue with a market size of USD 1675742.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.


Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 670296.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.


The Manufacturers held the highest Agribusiness market revenue share in 2024

Market Dynamics of Agribusiness Market

Key Drivers for Agribusiness Market

Increasing Global Food Demand Due to Population Growth: The swift rise in the global population, particularly in developing nations such as India, China, and certain regions of Africa, is a major factor driving the demand for food. This escalating need for food compels both governments and private entities to enhance their investments in modern agribusiness infrastructure and technologies. Additionally, urbanization is altering consumption trends towards packaged and processed foods, which in turn boosts agricultural production and value-added supply chains. Technological Innovations in Agricultural Practices: Precision agriculture, IoT-enabled sensors, drones, AI-driven analytics, and satellite imagery are transforming the agricultural landscape. These innovations enable farmers to monitor soil conditions, forecast yields, optimize irrigation, and enhance crop health, thus increasing productivity and profitability. Automation and agri-tech startups are improving efficiency and decreasing reliance on manual labor, particularly in developed regions such as the U.S., Australia, and Western Europe. Government Initiatives and Subsidies Supporting Agribusiness: Governments worldwide are proactively assisting farmers and agribusinesses through subsidies, tax incentives, crop insurance programs, and investments in infrastructure. Initiatives such as India’s PM-KISAN, the U.S. Farm Bill, and the EU’s Common Agricultural Policy (CAP) offer substantial financial support. These programs enhance access to capital, encourage exports, and help alleviate price volatility and climate risks, promoting sustainable growth in the sector.

Key Restraints for Agribusiness Market

Climate Change and Environmental Uncertainty: Unpredictable weather patterns, increasing temperatures, droughts, floods, and various climate-related events pose significant threats to agricultural productivity. These elements diminish crop yields, elevate input costs, and disrupt supply chains. Small-scale farmers in developing nations are especially at risk due to their limited access to adaptive technologies, insurance, and irrigation systems. Land Degradation and Scarcity of Arable Land: Urban expansion, industrial growth, deforestation, and inadequate land management practices are contributing to a decline in the availability of fertile land for farming. Soil erosion, salinization, and nutrient depletion further compromise agricultural productivity. This situation poses challenges to sustainable farming practices and heightens competition for land resources among agriculture, urban development, and conservation initiatives. Supply Chain Disruptions and Price Volatility: The agribusiness sector is extremely sensitive to interruptions in transportation, storage, and export logistics. Factors such as geopolitical tensions, trade restrictions, pandemic-related limitations, and fluctuations in fuel prices create bottlenecks within the supply chain. Furthermore, agricultural commodities face considerable price volatility, which impacts the profitability of farmers and agribusiness enterprises.

Key Trends for

Agribusiness Market

...

Snapshot img

Agribusiness Market Size 2025-2029

The agribusiness market size is forecast to increase by USD 843.4 million, at a CAGR of 4.6% between 2024 and 2029.

The market is experiencing significant shifts driven by population growth, which is leading to an increased demand for food production. This trend is placing immense pressure on the industry to find innovative solutions to meet the rising demand, particularly in the context of a shrinking amount of arable land. One response to this challenge is the adoption of automation in agriculture, with technologies such as precision farming, drones, and robotics gaining traction. These solutions aim to optimize resource usage and increase efficiency, enabling farmers to produce more with less land. However, the implementation of automation also presents challenges, including high upfront costs and the need for significant investment in technology and infrastructure.
Additionally, regulatory compliance and data security concerns add complexity to the adoption process. To capitalize on the market opportunities presented by population growth and the need for more efficient agriculture, companies must navigate these challenges and invest in technologies that can help them stay competitive while addressing the sustainability and productivity demands of the industry.

What will be the Size of the Agribusiness Market during the forecast period?

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The market continues to evolve, shaped by various dynamics that impact different sectors. Land use patterns are shifting, with an increasing focus on carbon sequestration and sustainable farming practices. Precision agriculture is revolutionizing yield optimization, while food processing and packaging technologies advance to ensure food safety and traceability. Seed production and agricultural biotechnology are driving innovation in crop production, and harvesting equipment is becoming more efficient and eco-friendly. Food security remains a critical concern, leading to the adoption of irrigation systems, biodiversity conservation, and sustainable farming practices. Livestock feed and breeding are undergoing transformations, with a focus on disease prevention and environmental sustainability.

Pest control methods are evolving, with a shift towards more natural and less harmful alternatives. Supply chain management is becoming more complex, with the integration of farm management software and crop rotation techniques. Water conservation is a priority, with new technologies and practices emerging to address this challenge. Agribusiness investment is on the rise, driven by market volatility and price fluctuations due to climate change adaptation and commodity trading. Direct marketing and consumer dietary trends are influencing food distribution, with a growing demand for locally sourced and organic produce. Vertical farming and agricultural finance are gaining traction, offering solutions to land tenure issues and providing access to capital for small-scale farmers.

The ongoing unfolding of these market activities and evolving patterns underscores the continuous nature of the agribusiness landscape.

How is this Agribusiness Industry segmented?

The agribusiness industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Grains and cereals
  Dairy
  Oilseeds
  Livestock
  Others


Application

  Agrichemicals
  Seed business
  Breeding
  Machinery and equipment


Technology

  Traditional agriculture
  Mechanized farming
  Precision agriculture and smart farming
  Organic and sustainable Farming


Distribution Channel

  Retail chains and supermarkets
  Wholesale distribution
  Direct-to-consumer
  Food processing and manufacturing companies


Farm Size

  Small-Scale Farms
  Medium-Scale Farms
  Large-Scale Farms


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Argentina
    Brazil


  Rest of World (ROW)

.

By Product Insights

The grains and cereals segment is estimated to witness significant growth during the forecast period.

The market encompasses various sectors, including grains and cereals, dairy production, land use, carbon sequestration, agricultural machinery, organic farming, yield optimization, food security, irrigation systems, biodiversity conservation, supply chain management, livestock feed, livestock breeding, pest control, poultry farming, government subsidies, farm management software, crop rotation, water conservation, sust

Statistics illustrates consumption, production, prices, and trade of Farm Machinery and Equipment in the United States from 2013 to 2024.

Graph and download economic data for Employment for Agriculture, Forestry, Fishing and Hunting: Support Activities for Crop Production (NAICS 1151) in the United States (IPUAN1151W200000000) from 1987 to 2024 about crop, support activities, hunting, forestry, fishing, agriculture, NAICS, IP, production, employment, and USA.

Graph and download economic data for Employment for Agriculture, Forestry, Fishing and Hunting: Animal Production (NAICS 112) in the United States (IPUAN112W010000000) from 1987 to 2024 about animals, hunting, forestry, fishing, agriculture, NAICS, IP, production, employment, and USA.