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The Colombia agriculture market size is forecast to increase by USD 9.58 billion, at a CAGR of 8.4% between 2023 and 2028. The market exhibits significant growth potential, driven by the high demand for exports of key crops such as sugarcane and pulses. Robots and automation are increasingly being adopted in farming to address the challenge of declining arable land. Precision farming and regenerative agriculture are emerging trends, with a focus on using high-quality agricultural inputs to optimize crop yields and improve sustainability. Digitization is transforming the industry, enabling farmers to make data-driven decisions and streamline operations. Agricultural credit continues to play a crucial role in supporting farmers, particularly during periods of financial stress. These trends are shaping the future of agriculture, with a focus on innovation, efficiency, and sustainability.
The agriculture sector plays a significant role in the US economy, contributing substantially to the country's Gross Domestic Product (GDP) and providing employment opportunities. According to the United States Department of Agriculture (USDA), agriculture, forestry, fishing, and hunting industries employed approximately 2.6 million people in 2020. Crop cultivation, horticulture, and livestock production are the major components of the agriculture sector in the US. Major crops, such as rice, wheat, sugarcane, pulses, oilseeds, fruits, and vegetables, are grown extensively across the country. Precision farming and regenerative agriculture are advanced technologies that have gained traction in recent years, ensuring high-quality agricultural outputs and sustainable farming practices. The net exporter of agricultural products, with significant exports of rice, wheat, soybeans, corn, and cotton. Consumption analysis indicates that the demand for organic farming and crop diversification is on the rise due to changing consumer preferences.
Exotic vegetables and fruits are increasingly popular, and international collaborations facilitate the exchange of knowledge and technologies to cater to these trends. Agricultural credit and access to high-quality agricultural inputs are essential for farmers to maintain productivity and profitability. The USDA provides various loan programs and subsidies to support farmers, ensuring food security and economic stability in rural communities. The agriculture sector's focus on food security and exports is crucial in today's global market. Advanced technologies, such as precision farming and regenerative agriculture, contribute to increased efficiency and sustainability. Moreover, the sector's adaptability to consumer preferences and international collaborations ensures its continued growth and relevance in the global economy.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The sugar cane segment is estimated to witness significant growth during the forecast period. Sugarcane is a vital member of the Poaceae grass family, renowned for its use in sugar production. This tall, perennial plant can grow up to 2-6 meters tall, with sturdy, fibrous stalks that are rich in sucrose, which accumulates in the stalk internodes.
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The sugar cane segment was valued at USD 4.51 billion in 2018. Sugarcane cultivation is economically significant, joining the ranks of other important flowering plants such as maize, wheat, rice, and sorghum. In Colombia, there are around 1,200 sugarcane producers and 14 sugar mills. The sector's productivity continues to thrive, with sugar production projected to grow by 2.2% to 2.35 million metric tons (MT) in the marketing year 2023/2024. Precision farming and regenerative agriculture are increasingly being adopted in the agriculture sector to enhance productivity and sustainability. High-quality agricultural inputs, such as seeds and fertilizers, are essential for successful farming.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
High growth potential for agriculture exports is notably driving market growth. In Colombia, agriculture plays a vital role in the economy, with coffee and bananas being key crops. The Colombian government supports this trend by offering subsidies on imported agricultural equipment. However, many farms in Colombia lack the financial resources to invest in sophisticated technologies, such as GPS, despite their potential efficiency benefits.
Instead, farmers prioritize the use of affordable fertilizers, with urea being a popular choice due to its widespread availability and cost-effectiveness. The market faces challenges in terms of transparency and consumer preferences. The Agricultural Marketing Policy aims to address these issues and promote a more efficient and transparent agricultural market. Thus, such factors are driving the growth of the market during the forecast period.
Robots in agriculture are the key trend in the market. Agriculture continues to be a significant contributor to the economy, accounting for approximately 1.0% of the country's Gross Domestic Product (GDP). Employment in this sector is also substantial, with over 2.6 million people working in crop cultivation and horticulture alone. One of the major crops grown in the US is rice, which covers around 2.2 million acres, followed by wheat, grown on approximately 50 million acres. Robots have become essential tools in modern agriculture, enhancing productivity and efficiency. Equipped with specialized equipment, these machines perform tasks with remarkable precision. For instance, they harvest crops using automated systems, ensuring optimal yield and minimal wastage. Additionally, mobile robots maintain soil humidity and regulate crop conditions.
Automated controllers in robots enable farmers to monitor and manage their crops effectively. They detect water status, production levels, crop development, and crop composition, providing real-time data for informed decision-making. Robots' ability to work for extended periods and respond accurately makes them indispensable in agriculture. In conclusion, the integration of robots in agriculture significantly improves crop production and contributes to the economy. Their precision, efficiency, and ability to provide real-time data make them an essential investment for farmers. Thus, such trends will shape the growth of the market during the forecast period.
The declining availability of arable land is the major challenge that affects the growth of the market. The agriculture sector faces the challenge of declining arable land due to various factors, including industrialization, urbanization, and energy demands. As a result, the diversion of land for construction and the degradation of soil quality due to erosion and pollution have significantly impacted crop production and agricultural activities. To address these issues, the implementation of cutting-edge technology and adherence to best practices are essential for farmers to ensure optimal use of available arable land.
Our mission is to provide price discovery services that benefit farmers by keeping them informed of market trends and prices. Our vision is to harmonize the well-being of farmers and the environment by promoting sustainable agriculture practices. By staying informed and utilizing the latest technology, farmers can improve their yields, reduce costs, and enhance their overall profitability. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Agropecuaria Aliar S.A. - The company offers agricultural products such as fruits, vegetables, and grains.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market plays a significant role in the global economy, contributing substantially to the GDP of various countries. It provides employment opportunities for a large population, particularly in developing nations. The market encompasses a wide range of activities, from crop cultivation to horticulture, with major crops including rice, wheat, sugarcane, pulses, and others. Precision farming and regenerative agriculture are gaining popularity, with the adoption of advanced technologies and sustainable farming practices. Agricultural credit and access to high-quality agricultural inputs are crucial for farmers' success.
Digitization is transforming the sector, with the use of cutting-edge technology and international collaborations to improve efficiency and transparency in the agricultural marketing system. Food crops, cereals, oilseeds, fruits, and vegetables are in high demand due to increasing consumer preferences for healthier food options and food security concerns. Agricultural exports are a significant source of revenue for many countries, with net exporters benefiting from favorable market conditions. Organic farming, crop diversification, and best practices are essential for long-term sustainability and mission-vision alignment in the agriculture sector.
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Market Scope |
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Report Coverage |
Details |
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Page number |
134 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.4% |
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Market Growth 2024-2028 |
USD 9.58 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.6 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agricol SA, Agropecuaria Aliar S.A., AGROPECUARIA SANTAMARIA S A, Compania Cafetera La Meseta S.A, COOPERATIVA DE CAFICULTORES DE OCCIDENTE DE NARINO LTDA, FEDERACION ColombiaNA DE PRODUCTORES DE PAPA FEDEPAPA, Guaicaramo S.A.S, INGENIO CARMELITA S.A., Ingenio La Cabana SA, ITALCOL DE OCCIDENTE S A, MANUELITA S A, PALMERAS DEL LLANO S A, PALNORTE SAS, PLANTACIONES UNIPALMA DE LOS LLANOS S A, RIOPAILA AGRICOLA S A, SAENZ FETY SAS, SAPUGA S A, SEMILLAS VALLE SA, The Grupo Daabon, and Top Seeds International Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Crop Type
9 Market Segmentation by Type
10 Customer Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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