Agriculture - Industry - North America Market, Share and Trends 2023-2028

Summary of Agriculture

Agriculture activity is the oldest form of production and has evolved over centuries to reach a monetary market value of USD 13.39 Trillion in 2023 and this value is expected to reach USD 22.84 Trillion with an extremely high CAGR of 9.3%. Agriculture has supported human civilization for millennia as the foundational economic activity through which societies produce food, fiber and other essentials. 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. North America accounts for approximately 16%

North America boasts a highly productive and advanced agricultural sector concentrated in the United States, Canada and Mexico. The region accounts for over 25% of global crop production and remains a top exporter of major commodities worldwide. Key segments include – grain and oilseed cultivation, livestock rearing, dairy, horticulture and aquaculture. Based on our estimates, we can say that the North America’s agriculture industry is forecasted to be a $813.06 billion industry in 2029 from $740.46 billion in 2023 with a CAGR of 2.50%.

Countries in the region have focused on large-scale, industrialized and mechanized farming techniques to maximize yields. Widespread adoption of technologies like GPS, robotics, drones and AI are further improving efficiency and sustainability. North America also leads in agricultural biotechnology innovation through companies developing high-yield GMO seed varieties.

Looking ahead– climate change poses both challenges and opportunities. Farmers are implementing more resilient practices around irrigation, soil health and crop diversification. Demand for plant-based and cell-cultured meat alternatives is on the rise due to shifting consumer preferences. Governments support the industry through trade policy, insurance programs and research into carbon sequestration methods.

Recent Trends and Insights

Analysing recent trends and market intelligence reports – total agricultural production in the US increased by over 5% in 2021 driven by strong demand globally and domestically. Canada also saw crop yields rise.

Farmers are adopting regenerative techniques like cover cropping, conservation tillage and nutrient management to improve soil health and reduce emissions. The “carbon farming” concept is gaining traction. Cultivated meat and plant-based food companies are establishing production facilities in North America to serve growing markets.

Precision agriculture technologies allow for optimized seeding, fertilizer application and irrigation. Robotics and automation help address labor shortages. Key export markets like China and Mexico continue importing large volumes of grains and meats from the region under trade agreements.

Product Insights

Corn, wheat, soybeans, cotton and hay account for 90% of harvested acreage in the United States. Corn, wheat and soybeans are grown for both animal feed and human consumption. Cotton is used to make clothing and other products. The US is the top global exporter– especially of corn and soy.

Canola and sunflower are widely grown for their oils. The US also produces a large amount of cotton. Cattle and hog farming is concentrated in the Midwest. Canada is a top beef and pork supplier. California, Wisconsin and Pennsylvania are leading dairy states– producing milk, cheese and butter.

California’s Central Valley leads in high-value produce like– grapes, berries, citrus, nuts and lettuce. Canada is the world’s largest producer and exporter of pure maple syrup. Salmon and trout aquaculture is significant in British Columbia. The US harvests shellfish along coastlines.

The third largest crop grown in the United States is wheat. The United States produces hard red, soft red and white winter wheats and hard red and durum spring-seeded varieties. A very small amount of white spring wheat is also grown. Holland and Michigan are a hub for greenhouse flower cultivation like tulips and roses.

Key Companies

Some major players within this vast domain of industry are

• Cargill
• Archer-Daniels-Midland (ADM)
• JBS
• Syngenta
• Corteva Agriscience
• Nutrien
• The Davey Tree Expert Company
• Bunge Ltd.
• Tyson Foods Inc.
• Dole PLC

Regional Analysis

Major production centers include the Midwest grain belt, California’s Central Valley and coastal plains. Iowa, Nebraska and Illinois are top corn and soybean states. Cattle ranching dominates in Texas, Kansas, Colorado and the Mountain West. Dairy is concentrated in Wisconsin and California.

The Prairies region encompassing Alberta, Saskatchewan and Manitoba dominate wheat, canola and beef production. Ontario and Quebec contribute dairy, fruits/veggies and maple syrup. British Columbia is a salmon aquaculture leader.

Agriculture makes up around 3% of GDP– with tropical fruit, vegetables and coffee as exports. The north is suited for wheat and cattle while irrigation allows multiple crops in the Bajio and Yucatan regions. Trade under USMCA has increased Mexico’s role as a supplier to the North American market.

Total U.S. agricultural trade rose to record levels in 2021– with agricultural exports valued at $177 billion and imports at $171 billion. The US is a major producer of crops such as – corn, soybeans, wheat, cattle and dairy products – which play a crucial role in the country’s agricultural landscape.

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:

• The U.S.
• Canada
• Mexico
•  

Our Methodology

We have offered a well-founded review of North America’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.