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Global Agricultural E-Commerce Market Analysis by Deployment, Platform, Region and segments forecast till 2033
Market Overview
The global Agricultural E-commerce Market is presently valued at USD 30,680 million and is anticipated to amass a valuation of USD 50,630 million in 2033, amplifying at a CAGR of 7.42% over the forecast duration.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 30,680 million |
Market Forecast in 2033 | USD 50,630 million |
CAGR % 2023-2033 | 7.42% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Yihaodian, Amazon, COFCO Group, SF Express, Benlai Holding Group, Natures Basket Limited, Supermarket Grocery Supplies Pvt. Ltd., Grofers India Pvt. LTD., Ninayo, FarmFresh, Alibaba Group, and JD.com Company. |
Global Agricultural E-Commerce Market- Description
With rapid digital evolution, there has been a widespread proliferation of e-commerce platforms across the globe. Industries across the globe have increased their focus on selling their goods through online shopping channels. Agricultural e-commerce predominantly refers to the buying and selling of farming goods via online platforms. This has increased the efficiency of agricultural production by establishing a direct communication link between farmers and consumers.
Agricultural e-commerce has provided farmers with the opportunity to bypass intermediaries, thereby increasing their income and reducing product wastage. These are the primary factors augmenting the outlook of this marketplace. Furthermore, rising internet penetration, growing digital literacy among farmers, and an increase in the number of agricultural e-commerce platforms in emerging economies are positively swaying the industry dynamics. Also, surging government investments aimed towards the development of the farming sector, rising demand for food products due to widespread population expansion, and the growing proliferation of smart devices are creating lucrative opportunities for the marketplace to prosper.
Moreover, the outbreak of the COVID-19 pandemic had a positive impact on the industry's growth. Restrictive containment measures like stringent lockdowns led to the closure of markets and other commercial complexes for an indefinite period. But the advent of agricultural e-commerce platforms enabled numerous farmers across the globe to sell their products online. This in turn added massive traction to the progression of this business vertical. However, a lack of cognizance about the existence and benefits offered by e-commerce platforms among farmers is hindering the remuneration scope of this marketplace.
Global Agricultural E-Commerce Market: Key Trends
Increasing Cost Competition Among Players in The Agricultural Sector to Aid Industry Expansion
Competition among players operating in the agricultural sector has surged strongly in the past few years. Offline sales have increased the pressure on the supply chain, cost, and intermediaries within the entire ecosystem. E-commerce is an efficient tool for micro and medium size businesses as it is helping sellers to reduce their transportation costs while providing them with easy access to untapped markets.
Rising Utilization of E-Commerce Platforms by Small Scale Farmers to Augment the Market Outlook
It is increasingly clear that e-commerce has become a new and effective way of aiding smallholders to gain access to the market. E-commerce has enabled these farmers to sell most of their products at a higher price than before because of the elimination of price squeezes from intermediaries and the marketing constraints of information asymmetry. The widespread utilization of e-commerce platforms by small-scale farmers is creating an upward trend for overall market development.
Global Agricultural E-Commerce Market: Segmental Analysis
By Deployment:
On-cloud
On-Premise
The on-cloud segment is expected to register notable gains over 2023-2033 owing to the easy accessibility of cloud-based agricultural e-commerce platforms.
By Platform:
Mobile-based
Desktop based
The mobile-based segment is slated to generate significant revenue over the assessment timeframe ascribing to the growing smartphone penetration across the globe.
Global Agricultural E-Commerce Market: Geographical Landscape
North America, the Middle East & Africa, Europe, Asia Pacific, and Latin America are the major regions constituting the geographical ambit of this marketplace. Among these, Asia Pacific is projected to garner a significant revenue share over 2023-2033. This is attributable to the presence of agrarian nations like India and the rising utilization of online channels to sell farming goods.
Global Agricultural E-Commerce Market: Recent Developments
Notably, in July 2018, Indian Farmers Fertilizer Cooperative inked a partnership deal with iMandi with an aim to develop an e-commerce platform for small-scale farmers.
Global Agricultural E-Commerce Market: Key Companies
Yihaodian, Amazon
COFCO Group
SF Express
Benlai Holding Group
Natures Basket Limited
Supermarket Grocery Supplies Pvt. Ltd.
Grofers India Pvt. LTD.
Ninayo
FarmFresh
Alibaba Group
JD.com Company.
Global Agricultural E-Commerce Market: Regional Scope
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
South Africa
Rest of Middle East and Africa
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