Agriculture - Industry - Asia Pacific Market, Share and Trends 2023-2028

Summary of Agriculture

Agriculture plays a vital economic and cultural role across the diverse Asia-Pacific region. Farming practices vary significantly from humid tropical climates to arid inland areas. Leading agricultural nations include China, India, Indonesia, Vietnam, Thailand and Australia.

What began as subsistence farming to meet basic needs has evolved into a multi-trillion dollar global industry that touches all corners of the world. APAC accounts for approximately 51% of the global revenue. Based on our estimates, we can say that the Asia Pacific’s agriculture industry is forecasted to be a $2910.21 billion industry in 2029 from $2325.23 billion in 2023 with a CAGR of 4.10%.

The APAC agriculture industry is valued at over $2 trillion currently and is projected to grow steady pace through 2030. Staple crops like– rice, wheat and maize are extensively cultivated to meet the world’s largest demand for food. Countries like China, India and Vietnam are also major exporters of agricultural goods.

Rising incomes are driving shifts toward higher-value produce, dairy and protein. Rapid urbanization is increasing the need for efficient, sustainable farming techniques. Governments support modernization through subsidies, research and trade policy. Precision agriculture adoption is expanding to boost yields.

Recent Trends and Insights

Recent insights show the region is working to balance agricultural expansion with environmental protection. Farmers face challenges from water scarcity, soil degradation, climate change impacts and biodiversity loss. Regenerative practices around conservation tillage, cover cropping and agroforestry are gaining prominence. Cell-based meat research also receives funding as a more sustainable alternative protein.

Another industry insight suggests that- that 735 million people faced hunger last year. The Asia-Pacific region is particularly vulnerable to climate change due to high population density, heavy reliance on agriculture and exposure to extreme weather events.

Cell-based meat research is receiving funding as a more sustainable alternative protein. The diverse agricultural landscape in the APAC region continues to adapt & to meet the needs of a growing global population while reducing environmental pressures. Innovation will be crucial for the sector to sustainably feed billions in the coming decades.

APAC’s diverse agricultural landscape continues adapting to meet the needs of a growing global population while reducing environmental pressures. Innovation will be crucial for the sector to sustainably feed billions in the coming decades.

Product Insights

APAC produces and consumes over 90% of the world’s rice supply, with China, India, Indonesia, Bangladesh and Vietnam as top producers. China, India, Australia are leading wheat growers. Quality is improving to expand exports. Droughts, floods and heatwaves periodically threaten production in vulnerable areas. More resilient varieties and farming methods are a priority.

China is the largest producer – followed by India. Used for animal feed, food processing and now fuel ethanol. Tropical fruits like banana, mango, pineapple thrive. Citrus and melons also important.

Rapid growth in demand and production across Southeast Asia and India. Grown in northeast India, Sri Lanka, Vietnam. Premium varieties have significant export value.

More farmers are adopting organic and regenerative practices to restore soil health. Cover cropping, crop rotation and mulching are widely promoted. The use of drones, sensors, AI and GPS-enabled machinery is expanding to optimize water and fertilizer use– increase efficiency.

Vietnam is the world’s second largest producer after Brazil. Specialty grades in demand. More than 70% of the region’s poor people live in rural areas and a third of Asia’s workers are in agriculture. Transforming agriculture through the integration of technology, infrastructure investments, innovation and regulatory reforms is essential to ensure food security and continued economic development.

Key Companies

Some major players within this vast domain of industry are

• Olam International
• Wilmar International
• ITC
• CJ CheilJedang
• Nestle
• Cargill
• Golden Agri-Resources
• Indofood
• Japfa Comfeed
• Elders

Regional Analysis

Countries like China, India and Vietnam have seen steady yield gains in key crops like rice, wheat and maize due to improved seeds, irrigation and mechanization. Thailand continues to dominate the global rice export market. Vietnam is emerging as a major supplier of coffee, cashews and black pepper.

Singapore and Hong Kong are investing in cell-based meat R&D. Insects and plant-based foods see rising demand in major cities. Two emerging developments for agriculture in the Asia-Pacific region are the rise of aquaculture – with 90% of global production in Asia – and the use of digital technologies, which help producers and traders obtain weather, market and technical information. These developments have the potential to transform agriculture in the region.

Two emerging developments for agriculture in Asia and the Pacific are the rise of aquaculture– with 90% of global production in Asia; and digital technologies, which help producers and traders obtain weather, market and technical information.

In Southeast Asia- the ASEAN Climate Resilience Network is a region-specific example of multi-stakeholder partnership that is deploying innovative resilience measures regionally and nationally with support of public and private sector actors.

Market Segmentation

By Type:

• Crop farming
• Livestock farming
• Mixed farming (combination of crop and livestock)
• Aquaculture (farming of fish and other aquatic organisms)
• Horticulture (cultivation of fruits, vegetables, and ornamental plants)
• Forestry (management and cultivation of forests)

By End User:

• Commercial farmers
• Small-scale farmers
• Agribusinesses and cooperatives
• Government and research organizations
• Retailers and distributors of agricultural products

By Sub-Sector:

• Arable farming (crops like wheat, corn, rice, etc.)
• Dairy farming (production of milk and dairy products)
• Poultry farming (raising chickens, ducks, and other birds)
• Viticulture (cultivation of grapes for wine production)
• Floriculture (cultivation of flowers)
• Specialty crops (such as herbs, spices, and niche products)

By Country:

• China
• India
• Japan
• Indonesia
• South Korea
• Australia

Our Methodology

We have offered a well-founded review of Asia Pacific’s agriculture industry along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.