Sources:
- World Bank Group. Commodity Markets Outlook
- International Grains Council
- Future Market Insights
- Global market volume of agricultural robots from 2020 to 2030. Statista
- World Agricultural Supply and Demand Estimates. United States Department of Agriculture
- Source; https://www.ers.usda.gov/topics/crops/wheat/market-outlook
- International Grains Council. Grain Market Report.
- Crop Prospects and Food Situation Triennial Global Report. FAO
- Agricultural industrial internet of things market size worldwide from 2020 to 2025. Statista
- Food Outlook Biannual Report on Global Food Markets. FAO
- Global food price inflation is likely to ease by 4% in 2025, after an anticipated 6% cooling in 2024, according to the World Bank’s food price index. But La Niña, geopolitics and potential maritime choke points pose potential risks to the downward trend.
- World grain production is set to expand 1% year-on-year in 2024/25 to 2,312 million metric tons, says the IGC, with wheat, barley and sorghum volumes all increasing.
- The global farm equipment market will grow rapidly, with a projected CAGR of 5.4% over the next decade, driven by factors including precision agriculture and population growth. Its value will reach $194 billion by 2034, predicts Future Market Insights.
- The number of robots in agriculture is set to reach 15.7 billion in 2025. The figure is expected to more than double by 2030, to reach 35.9 billion, forecasts Statista. Automated tractors, harvest equipment, and milking robots are among the leading technologies.
- Egg production in the U.S. will hit 9/47 billion dozen in 2025, up from a forecast of 9.086 billion dozen for 2024, according to the USDA. Milk production will rise from 227 billion lbs to 229 lbs.
- The area of U.S. winter wheat is expected to increase by 2% to 34.1 million acres in the 2025/26 marketing year, says the USDA National Agricultural Statistics Service (NASS).This bucks the longer-term trend where winter wheat acreage has previously been declining.
- Global rice production is set to hit a record 528 million metric tons in 2024/25, up from 521 million the previous year, according to the International Grains Council (IGC). Global rice consumption and residual use is set to hit 527.3 million tons, says the United States Department of Agriculture (USDA).
- Global trade in cereals will decline by 3% in 2024/25 to 481 million metric tons, according to the UN’s Food and Agriculture Organization (FAO). Reduced trade in maize – which will see lower production in the US and Brazil – will be the main driver.
- Smart farming will drive a rise in the global agricultural industrial internet of things (IIoT) market, which will be worth almost $7 billion by 2025, according to Statista.
- Oilseed production is set to keep growing after an expected record high of 667.6 million metric tons in 2023/24, says the FAO. Surging soybean production in South America will outweigh the US soybean crop, while sunflower seed output will rise globally.
