A Digital Agriculture Marketplace is a transformative platform that leverages advanced technology to connect farmers, suppliers, and buyers in the agricultural sector. This digital ecosystem facilitates efficient trading, data-driven decision-making, and resource optimization, revolutionizing the way agricultural products are produced, marketed, and distributed.
The global digital agriculture marketplace market was valued at $10.00 billion in 2020 and is projected to reach $22.88 billion in 2026, following a CAGR of 15.0% during the forecast period 2021-2026. The market growth is highly impacted by increasing awareness about digital platforms among consumers and suppliers and rising investment in the agri-food sector, especially in the digital platforms.
Currently, the digital agriculture marketplace is at an emerging stage. The digital marketplace seeks to bring greater efficiency to the agri-food supply chain upstream and downstream of the farmer. Digital platform in agriculture helps to connect growers and livestock reapers with resources such as machinery, financing, marketing, and sales. It also helps in everything from buying seeds and offering cash advances to farmers to managing distribution and logistics, among others.
Agriculture and the food industry are rapidly penetrating the era of platform economics. Digital technology allows such platforms to target the global market even as being rooted in the national economy. The rapid development of digital interfaces is not solely a matter of matching supply and demand. Collaborative platforms have emerged alongside marketplaces. Some of the platforms are dedicated to financing, while others are dedicated to exchanging services.
Perishables Segment Dominates the Global Digital Agriculture Marketplace Market
Digital agriculture marketplace offers various products such as organic produce, seeds, and fertilizers, among others, which can be characterized by perishables, non-perishables, Agri raw materials, and others. Digital agriculture marketplace uses marketing to raise awareness and drive usage of their platform. Digital agriculture marketplace offers fresher produce, equipment, and services and improved incomes for farmers compared with the conventional value chain.
Asia-Pacific to Register Highest Demand for the Global Digital Agriculture Marketplace Market
Asia-Pacific region is expected to dominate the global digital agriculture marketplace market during the forecast period. The high agricultural growth in these regions, along with the increased emphasis on digitization in agriculture, is expected to boost the development of the digital agriculture marketplace in these regions.
India is a significant player in the North America digital agriculture marketplace market. India is dominated by various players of the digital agriculture marketplace, including Ninjacart Platform (63Ideas Infolabs Pvt. Ltd.), Diatoz Solutions, Agrostar, DeHaat, among others. According to the Indian Brand Equity Foundation, agriculture is the primary source of livelihood for about XX% of India’s population. The agriculture sales are the highest in the Asia-Pacific region, and India can become a vast digital agriculture marketplace market in the coming years.
Competitive Landscape
The competitive landscape for the global digital agriculture marketplace market demonstrates a pattern toward an inclination of companies adopting strategies such as mergers, collaborations, product launches, and contracts, among others. Moreover, the industry is developing; thus, the market players are organizing or taking part in several events to generate greater awareness about the same.
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Some of the leading companies operating in the global digital agriculture marketplace market are Twiga Foods Limited, COFCO International, Farmcrowdy, Agrellus, Inc., Cranswick PLC, Crofarm Agriproducts Pvt. Ltd., Tanihub, Eden Farm, Diatoz Solutions, WayCool Foods and Products Pvt Ltd., Agrofy, Kaset Thai Hitech Co., Ltd., Agri Marketplace, Agrostar, and DeHaat. In addition to this, COFCO International, Cranswick PLC, and Agrellus, Inc. were the most prominent names surfaced in the global digital agriculture marketplace market. These companies launched a range of new products and entered various partnerships and collaborations.
