The year 2019 was an amalgamation of breakthrough technologies in the agriculture and food vertical. In the last decade, there were various strategic developments that demonstrated promising market opportunities for the companies operating in the domain. Certain examples being the acquisition of Smart Ag Inc. by Raven Industries, Inc. with a focus to create autonomous solutions for the precision agriculture market, along with partnership between CropX and FarmAgro to provide satellite-powered precision agriculture tools to farmers in Central America, among others.
BIS Research Agriculture & Food Technology domain offers insightful market intelligence reports on precision agriculture, food tech, IoT in agriculture, agricultural robots, agricultural equipment, and vertical farming, among others to help key players with their strategic decision-making.
Following are the key highlights of our market intelligence reports published in 2019. These can act as a supplement to the strategic structuring and growth of your company:
Artificial Intelligence (AI) in Agriculture Market
AI-as-a-Service (AIaaS) is a relatively new product offering type in the agriculture market. Moreover, software-as-a-product offering maximizes the growth of the AI in agriculture market. Asia-Pacific is expected to showcase the fastest market growth i.e., a CAGR of 32.82% from 2019 to 2024. [REPORT SAMPLE]
The refrigerated storage industry is growing rapidly across the globe due to an increased demand to reduce the wastage of perishable foods. The fold cold chain market by application is currently dominated by dairy products, followed by meat and marine products. The total revenue generated by dairy products is expected to reach $90.85 billion by 2024. [REPORT SAMPLE]
Agricultural Pheromones Market
With the growing pressure on the global food production due to rising pest infestation levels, the adoption of agricultural pheromones is expected to increase, owing to expected increase in pheromones incorporation for highly traded crops such as fruits and nuts. Moreover, control and treatment are anticipated to be the potential segment, expected to register the highest CAGR from 2019 to 2024. [REPORT SAMPLE]
LED grow lights offer energy efficiency, improved plant growth, and more yield as compared to traditional grow lights. Indoor farms are expected to be the largest consumers of LED grow lights during the period 2019-2024. The booming medicinal cannabis industry is one of the most attractive avenues for application of LED grow lights. Asia-Pacific is expected to become one of the most lucrative markets for LED grow lights during 2019-2024, with the China LED grow lights market anticipated to disrupt the global LED grow lights market due to the competitively priced product offerings. [REPORT SAMPLE]
Plant-Based Food & Beverage Alternatives Market
The demand for the food products that are plant-based is increasing rapidly, owing to the aggravating strain on the food manufacturers to meet the trend of modern healthy foods among the consumers. The market by product type is currently dominated by plant-based meat, plant-based dairy, and others. By source of protein, the market is currently dominated by soy, followed by almond. North America is the front-runner in the plant-based food and beverage alternatives market, with the U.S. being one of the leading countries and constituting a share of 33.45% in 2019. [REPORT SAMPLE]
Agriculture Technology-As-A-Service Market
The Agriculture Technology-As-A-Service business model allows the customers to procure their desired agriculture technologies as services under different affordable pricing models rather than acquiring them as a one-time purchase. In terms of value, software-as-a-service (SaaS) is projected to reach $1,719.9 million by 2024. Agriculture technologies are expected to play pivotal role in soil management in the next five years, with Asia-Pacific expected to have the fastest market growth during 2019 to 2024. [REPORT SAMPLE]
Indoor Farming Technology Market
The indoor farming technology market is anticipated to grow at a CAGR of 15.23% from 2019 to 2024, globally. Indoor vertical farms are the future of indoor farming and are expected to display the highest growth of 17.56% during the same time period. The market growth is largely attributed to the adoption of IoT and integration of cloud platforms and sensors for in the indoor farming industry. Emerging economies, such as Singapore, China, the U.A.E., and Mexico, offer several untapped and unexplored opportunities. [REPORT SAMPLE]
Agricultural Surfactants Market
The agricultural surfactant market by application is currently dominated by the herbicide segment, followed by fungicide and insecticide. Anionic surfactants are leading the market by type and are expected to reach $664.6 million by 2024. Moreover, a growing use of bio-based surfactants has been being witnessed, owing to environmental concerns, regulatory compliance, and fluctuating oil prices. [REPORT SAMPLE]
Fermented Feed Ingredient Market
In 2018, amino acids contributed to more than 39% of the total fermented feed ingredient market. The probiotics and prebiotics segment is expected to display the highest CAGR of 14.84% during the period 2018-2023, owing to the increasing concerns over the usage of antibiotics in livestock farming. Probiotics and prebiotics are eco-friendly alternatives to antibiotics, as they enhance feed efficiency as well as animal performance. [REPORT SAMPLE]
More from the BIS Agriculture and Food Tech Repository: (hyperlinked)